What makes you profit in trading is constantly trading high risk-reward setups with a strong confirmation. If you keep doing this, you will have high chances of having profitable results in trading.
The $8200 acted as resistance 2 times before, then bulls managed to flip it into the support and now we dropped below without retest of that area.
If you short now, stop loss should be above that area which is roughly $500 from the current price. The target is at next weekly support ($7300) which is $500 from the current price.
We have a 1:1 risk reward which is too low. How to make it better?
Simply wait for a better entry. If you short at $8000, stop loss will be $300 from entry price while the target will be $700 and it gives you a 1:2.3 risk reward which is way better.
What if you managed to short at $8200 and put stop loss at $8400 to let it breathe. The target is still the same at $7300 and it would be $900 from the current price. The risk-reward would be 1:4.5.
Do you see the difference? Trading the same setup but just waiting for a better entry. Even if you miss it, you shouldn’t be upset because once you get it, you will have 1:4 or even higher risk-reward.
Catch only 3 trades with this risk-reward in a month and you will perform better than 98% of all traders in the market.
Make math works for you and take advantage of it. Quality matters, not the quantity, keep that in mind.
So we are waiting for BTC to show price action above $8000 to test broken support and that will be the time we will be looking for short entry opportunity.
Close above broken support changes everything and we will talk about it if that happens, there is no reason to talk about something that is just still far away.
The $8200 acted as resistance 2 times before, then bulls managed to flip it into the support and now we dropped below without retest of that area.
If you short now, stop loss should be above that area which is roughly $500 from the current price. The target is at next weekly support ($7300) which is $500 from the current price.
We have a 1:1 risk reward which is too low. How to make it better?
Simply wait for a better entry. If you short at $8000, stop loss will be $300 from entry price while the target will be $700 and it gives you a 1:2.3 risk reward which is way better.
What if you managed to short at $8200 and put stop loss at $8400 to let it breathe. The target is still the same at $7300 and it would be $900 from the current price. The risk-reward would be 1:4.5.
Do you see the difference? Trading the same setup but just waiting for a better entry. Even if you miss it, you shouldn’t be upset because once you get it, you will have 1:4 or even higher risk-reward.
Catch only 3 trades with this risk-reward in a month and you will perform better than 98% of all traders in the market.
Make math works for you and take advantage of it. Quality matters, not the quantity, keep that in mind.
So we are waiting for BTC to show price action above $8000 to test broken support and that will be the time we will be looking for short entry opportunity.
Close above broken support changes everything and we will talk about it if that happens, there is no reason to talk about something that is just still far away.
Last 12 months confirm what we believe that could happen in 3-5 years. In our opinion, 90% of altcoins we have today will disappear in this period.
The reasons may vary but the fact is that most of them vanish from the market. What’s worst, maybe 90% is too small % because currently we have 2000+ of them and it means 200+ will succeed which is not likely to happen. The % of those that will make it is way lower.
Why?
Simply, 90% are still in their whitepaper dreams. It is easy to write promises. The hard part is not to deliver but to over-deliver because that’s what brings awareness to you and your project.
Don’t try to prove someone wrong by constantly saying it will go up. That person doesn’t care but your egoism will keep you holding coins that may be worth zero very soon.
Technicals for the majority of altcoins looks terrible. No, it won’t be worth zero but it will reach the stage where daily volume will be too low that you won’t be able to sell your coins because no one is buying them.
Bitcoin broke through 6k floor, alts dropped. Bitcoin went up, alts dropped.
The main reason that makes us believe in this is the institutions. They are massively coming but they won’t be buying a coin that is 200th on the market cap. They will be accumulating Bitcoin and some of them will diversify their money in a couple of them and that’s it. They don’t buy things that lost 98% of its value in less than a year so why should you?
The reasons may vary but the fact is that most of them vanish from the market. What’s worst, maybe 90% is too small % because currently we have 2000+ of them and it means 200+ will succeed which is not likely to happen. The % of those that will make it is way lower.
Why?
Simply, 90% are still in their whitepaper dreams. It is easy to write promises. The hard part is not to deliver but to over-deliver because that’s what brings awareness to you and your project.
Don’t try to prove someone wrong by constantly saying it will go up. That person doesn’t care but your egoism will keep you holding coins that may be worth zero very soon.
Technicals for the majority of altcoins looks terrible. No, it won’t be worth zero but it will reach the stage where daily volume will be too low that you won’t be able to sell your coins because no one is buying them.
Bitcoin broke through 6k floor, alts dropped. Bitcoin went up, alts dropped.
The main reason that makes us believe in this is the institutions. They are massively coming but they won’t be buying a coin that is 200th on the market cap. They will be accumulating Bitcoin and some of them will diversify their money in a couple of them and that’s it. They don’t buy things that lost 98% of its value in less than a year so why should you?
The price action is very clear. It is in the range around weekly resistance (red line in the middle).
Don’t try to act like you have crystal ball. The price can go in both directions so once we see break above upper line, we can buy Ripple.
By trading in the range you are risking to be taken out without being invalidated which is worst thing that can happen.
Don’t try to act like you have crystal ball. The price can go in both directions so once we see break above upper line, we can buy Ripple.
By trading in the range you are risking to be taken out without being invalidated which is worst thing that can happen.
The main reason why I found XRPBTC pair is great looking XRPUSD pair. If I do not expect from BTC to rally, then the only one left to rally is XRPBTC to reach those targets on XRPUSD.
This is the range that can break in either direction. So far it tested broken resistance (green area) and bounced off which confirms the buy interest in that area.
That is also 0.618 fib level so that’s one more confluence that adds weight to this setup.
Break below would cancel bullish setup on both XRPBTC and XRPUSD pairs.
However, the break above would be very bullish for both pairs, especially for XRPBTC.
This is the range that can break in either direction. So far it tested broken resistance (green area) and bounced off which confirms the buy interest in that area.
That is also 0.618 fib level so that’s one more confluence that adds weight to this setup.
Break below would cancel bullish setup on both XRPBTC and XRPUSD pairs.
However, the break above would be very bullish for both pairs, especially for XRPBTC.
BTCUSD is consolidating around 7800 price level. It is still too far from the blue area where we would short it if we see a bearish sign such as bearish engulfing or bearish pin bar on lower time frames (H4).
Until that, we play small intraday trades to take advantage of the volatility in the market. For swing trade, we are waiting for that area to offer us profitable risk-reward trade setup.
Until that, we play small intraday trades to take advantage of the volatility in the market. For swing trade, we are waiting for that area to offer us profitable risk-reward trade setup.
#TradingTip
Stop comparing yourself to other traders because it will always lead to unhappiness and disappointment.
The one thing you have to know, people do not like sharing their losses with others. That’s why on crypto twitter you will see everyone win when the reality is way different.
After studying successful traders, I came across that losing is nothing to be scared off. Even after years of trading, they have losing days, weeks, months and some of them even years.
Focus on yourself and don’t care what everyone else is doing. People’s egoism will always bring them down sooner or later.
Accept loss, study that losing trade, write notes down what went wrong and move onto the next trade.
A losing day doesn’t mean you can’t have a winning week.
A losing week doesn’t mean you can’t have a winning month.
A losing month doesn’t mean you can’t have a winning year.
A losing year doesn’t mean you can’t have a winning trading career!
Stop comparing yourself to other traders because it will always lead to unhappiness and disappointment.
The one thing you have to know, people do not like sharing their losses with others. That’s why on crypto twitter you will see everyone win when the reality is way different.
After studying successful traders, I came across that losing is nothing to be scared off. Even after years of trading, they have losing days, weeks, months and some of them even years.
Focus on yourself and don’t care what everyone else is doing. People’s egoism will always bring them down sooner or later.
Accept loss, study that losing trade, write notes down what went wrong and move onto the next trade.
A losing day doesn’t mean you can’t have a winning week.
A losing week doesn’t mean you can’t have a winning month.
A losing month doesn’t mean you can’t have a winning year.
A losing year doesn’t mean you can’t have a winning trading career!
After an amazing response on our first #TechnicalEvening, it is time to bring something new to the table.
Tonight we will be talking about the non-technical part of the trading and have our first #Non-technicalEvening where we will answer to your questions about risk and money management and as well as other trading questions that are not related to technicals.
Send your questions to @CryptoSignalsAdmin and we will share the answer to 3 of them.
Tonight we will be talking about the non-technical part of the trading and have our first #Non-technicalEvening where we will answer to your questions about risk and money management and as well as other trading questions that are not related to technicals.
Send your questions to @CryptoSignalsAdmin and we will share the answer to 3 of them.
Forwarded from Future Crypto Experts - Paid Channel
Entry was missed for $3 so if someone shorted this with an entry a little bit lower, it was an amazing entry and trade setup. Onto the next one
The best thing is that our setups either get frontrunned or perfectly executed. It was funny to see all these people longing BTC after yesterday’s fake signs.
H4 resistance was rejected 2 times on H4 time frame 4 times on H1 time frame and 6 times on M15 time frame, do you need more signs?
The fact is that was hidden resistance behind some of my tools so it wasn’t so clear on the chart at first.
The chart you see me posting is cleared by the trading tools that I keep for myself. I give you the direction and that’s what is most important.
How I came up to that is something I keep for myself because it was the result of years of analyzing thousands and thousands of charts.
On the other side, the direction you can get by using properly any tool. The tools I use are working for me because it suits my personality. That’s one of the reasons I don’t share it because I want other people to find tools that suit them, not to copy mine or other people’s tools.
H4 resistance was rejected 2 times on H4 time frame 4 times on H1 time frame and 6 times on M15 time frame, do you need more signs?
The fact is that was hidden resistance behind some of my tools so it wasn’t so clear on the chart at first.
The chart you see me posting is cleared by the trading tools that I keep for myself. I give you the direction and that’s what is most important.
How I came up to that is something I keep for myself because it was the result of years of analyzing thousands and thousands of charts.
On the other side, the direction you can get by using properly any tool. The tools I use are working for me because it suits my personality. That’s one of the reasons I don’t share it because I want other people to find tools that suit them, not to copy mine or other people’s tools.
Forwarded from Future Crypto Experts - Paid Channel
New setup on Bitcoin. No fomo, waiting for retest of the broken support and giving it a little bit higher entry in case it frontruns main support.
If it gets missed, it is not the big deal because it is going to our resistance in $8200 area where we will be waiting for bearish signs.
If it gets missed, it is not the big deal because it is going to our resistance in $8200 area where we will be waiting for bearish signs.