Lets make some money together!
On VTCBTC our conservative trade didn’t get entered so we are going to take a cheaper entry on the 4 hour chart.
VTCBTC has made a strong move down on the . Technically it is setting up as a strong base and reversal area. It has set up a base by putting in a triple bottom.
Our previous shows these lows circled in Green. The has then given us a first higher high (Orange arrow on , Previous trade below in related articles) so we would like a pull back to a higher low and we are set.
We are going to trade the 4H Chart where you can see price has pulled back to our support line (in Red) @ 0.000383 and the 200EMA (The Green Line) , the 50 (The Red Line) and the 61.8 Fib retracement overlaid (Same level as the 200 ). The previous bar (arrow under it) has bounced from this level and closed above the 50 and Support (The Red lines) and on the 200EMA and 61.8 Feb.
We would prefer the close be above the 200EMAa and FIB, but with the quality of the base, I am happy to take this one. The entry is above the reversal bar and SL Below.
Entry is 0.000401 or above
Stop Loss 0.000379
Targets are the Yellow Lines
0.000413 Target 1
0.000453 Target 2
0.000475 Target 3
To make dollars your decisions need to make Sense. We looked at this chart on the daily and the aggressive got caught out and conservative never traded. Never Trade a chart because it owes you money, or wasted your time. Look at the analysis if you can understand it, and agree with it, then you have a trade..if not you have a guess and eventually all the guesses lose.
Quote of the day
Life is divided into three terms - that which was, which is, and which will be. Let us learn from the past to profit by the present, and from the present, to live better in the future.