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Learntoearn

Old trap for the amateur, Great opportunity for the ProZCLBTC H on BIttrex OLD TRAP FOR YOUNG Traders When you see a chart like the 4H chart on ZCL, we all want to do the same thing, we want to buy. But the pros know that the charts show us what has happened and we know what is likely next, Price is extended and likely to pull back. Those who rush in tend to donate their money to the few that understand the market (and thanks very much for that) , those who wait can do very well. When we cut to the Hourly chart we can see the start of a pullback, and a nice target for a bounce and entry. Price is testing the 50 EMA (Red line) but still I would not rush in. Let’s wait for end of the hour and see what support we have found. It is possible we could pullback to the 20ema, or either Orange line. Once we have done that if we like the level, jump down to a 15 minute chart and look for a decisive buying bar. This is a nice aggressive entry. We risk the bounce coming early and leaving us behind, and it can happen, but usually we save ourselves an early entry and the losses that can follow. Please also keep an eye on the D chart, this could set up very well there. "Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas." - Paul Samuelson If you think investing is gambling, you're doing it wrong. The work involved requires planning and patience. However, the gains you see over time are indeed exciting!
ZLong
by DollarsAndSense
7
Does Litecoin have a base to build from across the time frames LTCUSD looks bullish across the Timeframes and could provide good trading opportunities soon. Dollars and Senses always starts his analysis on the Daily chart and on that chart you can see that LTC USD put in a solid looking base as it pulled back to the 200EMA (GREEN Line) twice, and put in a double bottom (Underlined) and tested the 78.6% Fib retracement of the last move. Once it had tested these levels twice (Circled) it then bounced up. It has now broken the Resistance at 207.72, and has come back from above to retest the level. A close above the level on the daily chart would be a strong bullish sign. On the 4H chart you can see the support level, and Price is trying to close above the 50 EMA (Red Line). A close above the 50 ema would be a positive move and we could buy the close, or the high of the bar, with a SL below the bar. On the H chart You can see the move is a little more advanced with price bouncing off the support level more clearly. On this chart we are trying to close above the 200 EMA Green line. If we get that close we could buy the close or the top of the bar with SL below the bar or support levels. I wouldn’t buy there as I still have lower lows, and lower highs on the Hourly chart. When you get multiple time frames giving you similar pictures and areas of interest it strengthens the case for the move. In these cases normally trades set up Hourly, then 4 Hourly and then Daily. If you like highest risk to lowest risk. We are in a bearish day, where many have been knocked around, this level holding makes it look like an important level. Still we need to think carefully on which entry to take should they all set up. My preference is to let the H close above the 200 EMA and see if I get a pullback to retest the low, if I do I will have then have a hoghre low, and all the above. At that point I will look to get involved. I will watch carefully during the day today and try and keep you well informed. If you are going to make Dollars your decisions need to make Senses, BTC has been leading the market down. Keep an eye on it to stabilise before buying to much.
BITFINEX:LTCUSDLong
by DollarsAndSense
13
ETHUSD How to deal with conflicting ChartsETHUSD How do we deal with conflicting stories? Dollars and Senses likes to start his analysis on a Daily chart, what do we do when we have a conflicting picture. On the one hand we are just testing the 827 (Orange Line) support level, and 38.2 fib retracement iof the last move. We could buy this now or wait for the bullish candle and buy. On the other hand we have a clear Bearish Channel (overlaid) and are putting in Lower highs and Lower lows. So what to do? The first thing I do is conform the trend in my head. We are going down and that means I cant buy on the Daily chart in the current position as I am too close to top of the channel. This may mean missing a winning trade, but overtime it will save me form a lot of pain. Its possible to try and Buy and come out at the top of the channel, but its to cute for me. I would buy this at the bottom of the channel with more space to ride it back to the top of the channel. What I can do is go down the Time frames and see if I can find Higher Highs and Higher lows. The 4H Chart doesn’t help me, but on the H I can see price starting to consolidate. I can watch this and see if on the H price will put in a new high, and then pull back to the support, giving me a Higher low. The shorter bars on the Hourly, gives me tighter risk, and more times rewards vs that risk to the top of the channel. I would still come out or reduce substantially at the channel
COINBASE:ETHUSD
by DollarsAndSense
2
Real Swings, Pivots And About The Simplest Thing On Your Charts.Mastering the simplest thing in live ist most often the hardest one. Not because it's hard, but because it's "so simple and would-be easy". So why not master it, doing the job? It looks most often so "not worth it", that's why. But if I would tell you, that your trading would skyrocket, would you do it? Even from my students there are only 15% who religiously identify the Swings & Pivots (...in my world Pivots are the smaller swings, they have nothing to do with pivot points...). But these 15% trade with confidence. They don't hesitate to open a trade with fun. And they don't neglect to be wrong, and close a trade. They know what to expect because they have done their job... ...and the Swing & Pivot analysis. As I always preach - Learn To Earn. Peace!
Long
by Tr8dingN3rd
3