Hello people!
I am Dom :D
I enjoy trading and reading charts and have been trading crypto for about 5 months now.
Have been trading stocks for about 5 years.
I am here hopefully stop the spread of FUD. Since joining the crypto world i have seen a huge change.
When i started i saw parabolic growth across the board for everything, the entire market was driven by greed and uneducated traders.
Since early December i have noticed a more institutionalized trading pattern appearing on every chart.
This is mainly because alot of the alt coins we see are paired with BTC and thus we see growth on both ends of the spectrum in regards with the charts.
What scares alot of people from trading is the unpredictability and volatility of the markets, this is due to the high liquidity from the exchanges butt is doesn't mean we cannot trade.
I see support and resistance on a Fibonacci retracment plotted after a parabolic move.
With a mid term fib plotted, and technical indicators you can day trade these markets.
MACD
RSI
EMA
SMA
Just those indicators alone will make you money, i never hold crypto coins over night.
Anything can happen while you sleep, stop losses can be placed on your trades but in an emerging market flash crashes can happen and if you dont have a buyer then you have lost alot.
Im writing this because i am seeing alot of people leaving this market due to recent events.
I hate to see people leaving on a loss or a break even, you need to adapt and overcome these markets.
Stay strong in the market and trade the price action.
Domonic B
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