About Me: I am a retail trader and financial journalist. I apply strict technical analysis to every market and focus on asymmetric reward to risk propositions. Cryptos are no different.
DISCLAIMER: Right now we might or might not be in a bubble. Crypto markets are very risky. But we can still promote the technology and make some profits with solid trading. Most of my trades are 1 day to a few weeks. But I also hold long core positions in Bitcoin and Ethereum.
If DASH breaks out of this bottoming formation, it could be VERY BULLISH*
For charts, I use TRADINGVIEW (affiliate link: http://tradingview.go2cloud.org/SHxi)
Great Reverse Head and Shoulders here on the 4 hour chart.
4 hour charts are the best for Crypto Currencies because they give us more pattern recognition than the Daily Chart and less volatile chaotic noise than the 60 minute charts.
A very classic bullish pattern .
If we break out above this 1160 area, which is also the trend line forming the neckline of the Head & Shoulders .
Our targets will be based on the Fibonacci retracements and extensions.
Target 1 (take 25% position) = 1268 / 61.8% retraacement
Target 2 (take 50% position) = 1500 / former all time highs
Target 3 (take 25% position) = 1913 / 161.8% Fibonacci Extension
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EXCHANGES:
Different exchanges provide different advantages and disadvantages. If you want to be a real trader, then you have to have the right tool for the right job:
To trade on multiple exchanges at once, I use COINIGY: https://www.coinigy.com/?r=c1a0c095
To trade altcoins, I use: https://www.binance.com/?ref=12703625
To short crypto, I use BITMEX with 100x leverage: https://www.bitmex.com/register/UQ1g5H
Buy 100$ of Crypto with Coinbase and get 10$ FREE: https://www.coinbase.com/join/56e401680fe75a43cd0002e5
I trade regular stocks, options, and futures with TASTYWORKS: https://start.tastyworks.com#/login?referralCode=PYZTJG8GJA
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Hardware Wallets:
Trezor: https://shop.trezor.io?a=6a7673e7fcc9
Ledger Nano S: https://www.ledgerwallet.com/r/d642?path=/products/ledger-nano-s&tracker=MY_TRACKER
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MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
