Algo's. Only way in is the high-to-high extension...

266 9
They keep trading... it keeps going higher. Grab the 50's.
Crypto Trading and Education -
Are you predicting price will rise to the next target level of about $200 here in the near term?
tradedevil simonklasz
@simonklasz, There's an algo attached to this price action. It's target is $194. Unless the 61.8 breaks any pull backs will be bought. I try not to make "predictions" I just follow the algo footprints. By the way, algo's in the market is good news, as "they" are predictable.
simonklasz tradedevil
@tradedevil, once the new price target target of about 194 Hits , according to algos will price retract back to the 160s or take off past 200?
tradedevil simonklasz
@simonklasz, No way to know. If it tops, you draw the next extension. If it blows through... you keep the same anchor and draw from the next new high. That's how the algo attached to this price action will respond.
simonklasz tradedevil
@tradedevil, sounds right ! I will be traveling this weekend and won't be able to watch and trade so I'm hoping keeping half my position in right now will be a good choice . When you say tops that corresponds to hitting the previous resistance level ?
tradedevil simonklasz
@simonklasz, By tops I mean if it hits the 194 target and starts to pull back.
simonklasz tradedevil
@tradedevil, if it tops where can we except it to pull back based on the chart ? Back to consolidation zone 150s ?
simonklasz tradedevil
@tradedevil, do you use the Algo footprints for trading other cryptos , is the accuracy usually close ? I never used them
tradedevil simonklasz
@simonklasz, Only the majors. You need volume for these patterns to maintain accuracy and the big players aren't f*cking around with random alt coins... Stay with the top 5-7 in trading volume. That's where they play...
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