A friend of mine recommended that I check out Cryptonary's course and check out his website. After taking the course I started to remember some of what I taught myself when I began trading Forex once upon a time.
Support and Resistance accompanied by Fibonacci is to me, the best way to perform technical analysis.
Below is a monthly chart I created earlier this week. It is my belief that the official BTC bottom closest level of support is around $6300. After the bounce the strongest resistance is around $9200.
At what points do you suggest taking profits along the way up?
This is the chart today. Looks about right.
You do see a lot of analysis on steemit from different people with different methods but is there anything behind it? After taking the course can you say that there is a way to project the future on the currencies or is it all nonsense and just following bitcoin trends and news?
Personally. It's just market trends. I do my own charts. He's been wrong and losing a lot the past few days while my account is making profit. I always recommend babypips.com because it's free. A lot of these "bitcoin gurus" are just some guys that bought early and got lucky. They are, on average, no better or worse at trading than the average person. Hope that answers your question.
Pretty much what I had been thinking. I've never looked at these calculations but see them everywhere. I would go with you on this one.
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Nice my Friend, latter i will post my view and pls give me your point of view :D
for sure
I really have no idea about trading.. my brain cant take too much of it.. lol.. but i hear its good investment if you know when is the best time for it.
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idk where you're at today on your trading view, but we are at a new support bottom I think and I think It will keep continuing to be a bear market. thoughts?
I just made a new post updating my position. I do agree with you. I see support around the $6300 area.
ok im gonna take a look! cool! just bought a few more steem when it dipped down major, good steal.
Today is an important day for crypto. EU finance minister reunite to discuss the future of cryptocurrencies. A regulation about them it is supposed to be finished at the end of this year.
http://theblockchainfeed.com/reddit-news/eu-finance-ministers-will-meet-on-september-7-to-discuss-the-future-of-cryptocurrencies/
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This course looks really interesting. Is it indispensable to be able to operate in forex?
I suggest babypips.com for forex. That's where I started.
from the technical chart you created... i will take a trade with multiple entries, placing my stoploss far below the $5990 mark, my first TP will be at the descended trendline with the second TP at $8xxx minor resistance, depending on how the bullish candle close i may go for the $9xxx