In Taoism, the concept of Wuwei (or non-doing), is very fundamental. It is a concept that extols the values of inaction over action, or rather action through inaction. This really got my mind in a fix. Unraveling this paradox was not an easy one, and i'm still very much in the process of exploring this highly loaded concept.
But what does this have to do with OMG/BTC?
Well, when I started trading trading cryptos, the sheer thrill and excitement of seeing the massive gains caused me to over-trade (a lot!), and I definitely made less gains than if I'd simply done nothing, but just hodl. This struck me as the soul of what wuwei was all about. So obvious in retrospect.
So from then on in, I've made it a habit to spend more time stalking coins and less time actually trading. In this context, I'll try and share with you my current stalking list. This is by no means a call to buy, but rather a call to observe.
I'm boring, sue me.
First up, OMG/ BTC (using the 4h chart) using the ichimoku system:
The price is under the cloud but appears to be at a support level. I'm doing nothing yet, and I enter a trade only when I see it break out of the cloud to the top. I expect that to happen because of the one day chart :
The one day chart is a bullish one. Price broke out of the cloud (kumo) on the 1st of this year and it's currently back at the kijun-sen. The kijun is a very strong dynamic support and resistance level.
The reason I'm looking at this pair for a long trade is because (i) the future in the one day chart is green (bullish); (ii) the price is above the cloud, (iii) because of (i) and (ii)- the price should bounce off the kijun.
The time to enter is when a breakout happens at the 4 hour chart.
Hope this helps. Next up, IOTA /ETH.