Topic: I'm A Professional Trader, Here's My Strategy - page 6. (Read 21972 times)

thank you mate i'm appreciate your trading knowledge....the website give the real trading experience words

Thanks Reverend.

Yeh, the strategy isn't the easiest to explain or trade but if you spend some time practicing it you should get there in the end. Let me know if you need any help using it, and I'll try give you some pointers.

Bitcoin Update.......

nice post and explaining max, maybe i can try your strategy later.
but in real situation  it will be hard than your explanation, but i appreciate your post, hope it will be work.

Bitcoin Update........

Bitcoin Update: Consolidating At Highs, Drop To 3700 Possible

Bitcoin is currently consolidating (moving sideways) around the highs made by the large rise seen yesterday.



A drop into the buy area mentioned in my previous update did take place but the price broke through the bottom of it, and instead reversed at the resistance-turned-support level found at 3904. After reversing, the price tried to break through the current high at 4175 but failed and fell back down to the buy area.

There were a couple of trade entries you could have used here. The first was the Bullish Engulf that formed upon the price hitting the support level and the second was the Bullish Hammer candlestick that appeared when the price fell into the buy area for the second time.

The outlook at the moment is a bit confusing.



On the one hand it looks like the whales are buying at the lows ready for another rise (black arrows), but then on the flip-side to that it looks like they're selling at the highs to cause a pull-back (red arrows).

Personally, I think we're going to see a pull-back drop to 3700 or lower take place. This rise we've seen over the past couple of days has so far not had a decent pull-back. There have been pauses but no actual pullback, which means the whales haven't been able to buy additional Bitcoin, which they'd want to do if this was in fact the start of another big move higher.

I think for now it's best to wait to see how the price breaks out of this consolidation.

If it breaks to the downside, which is what I think it'll do, watch the lower buy area for signs of a reversal.

If it breaks to the upside, a new buy area we can use to watch for entries will form near the lows where I've marked the black arrows.

I'll keep you updated when there's new developments.

Okay, your input is very much appreciated, to be honest, I am not really good in short term trading because I'm a holder on both bitcoin and altcoins.

I'll keep watching your thread, I believe I will learn something and although a possible drop might happen, I just hope that we will see a bull run very soon.

Bitcoin Update........

Bitcoin Update: Huge Reversal From Buy Area

The buy area I said to watch for trades in last nights update caused a huge reversal to take place this morning.



Both a Bullish engulfing pattern (red arrow) and large Bullish Hammer candlestick (blue arrow) formed when the price was in the area, so you could have used them to enter a trade if you were awake (I managed to get in on the engulf).

Even though this rise is really big it's possible we'll see a pull-back take place within the next few days, as the whale traders take profits off their positions.

For now, watch for signs of a reversal in the two buy area's I've marked.

We could see the price drop into the upper area over the next few hours and then start rising again. If the price manages to break this area it'll be a signal the pull-back is beginning, and we'll probably see the price fall into the lower buy area.

Yeh, I wasn't expecting a rise that big. I thought we'd see a move above yesterday's high but not a massive 10% gain. I'm pretty surprised to be honest. As for whether this is the start of a new bull run, at the minute I'm not sure. I think we're going to see a pull-back back to 3700 in the next few days, as the whales take profits and buy more, but after that I don't know. We could see one more massive drop down to 3100 take place too. That would shake out the last remaining people who are bullish and give the whales a ton of sell orders to use to accumulate massive positions for the next run.

We'll have to wait and see.

It's very accurate, there was a little drop but bitcoin is now trading above $4K.
So, this is a real bull run mate? or just a trap?

Regardless, I still enjoy what's happening, it's been 3 days that the market has been positively moving.

It seems that price actions moving according to such a scenario. Buy zone was correct. Those who opened positions are already in a small plus.

Bitcoin Update........

traders and mining are thin but I still choose mining because it's easier and not as complicated as trading and I'm sure mining can earn more than trading in my opinion

Bitcoin Update: Buy Area Causes Reversal

The small buy area outlined in my last update caused the price to reverse and break through the sell area last night.



The price hit the area at 6:30pm, and upon doing so caused a Bullish Engulfing pattern (black arrow) to form. This pattern was only small, so it wasn't a good reversal signal - even though it did cause the price to reverse. However, you still could have used it as an entry due to the size of the area being very small.

The two points to watch now are the buy areas created during the rise.



These two buy area are most recent points where the whale traders could have bought a large amount of Bitcoin, so are the points where the price has a the highest probability of reversing if it falls. The price is currently inside a sell area that formed during the last major drop, so we could see a drop into the upper buy area take place this afternoon or evening.

As usual, watch for Bullish Engulfing patterns and Bullish Hammer candlesticks - candlestick that have large wicks on top - to form when the price touches or enters the area, as these are both good signal the price is about to reverse.

Yeh, I'm not a fan of these consolidation periods after large rises either. They usually end at or near a buy area on a lower timeframe, but the price action that appears as the price moves around makes it hard to judge whether the price is actually going to fall into the area or just keep falling.



I wouldn't put too much faith into chart patterns, Bots. It's much easier to just go off the areas. Sometimes patterns can work out okay, but other times they force you into a view of the market that isn't realistic. For example, if you saw a large triangle pattern forming you may think not to trade the pattern until the breakout. But by doing that you miss out on all the opportunities to make money trading inside the triangle. So they can be good and bad, depending on the pattern.

My Bitcoin update will be up soon, guys.

This is a very useful part for people who have just entered the trade because it is very easy to understand and if this "knowledge" is sold, it will definitely be expensive. and I really like this article "How To Use Support And Resistance Levels"

Isn't that a buy area too low? I see it has a descending triangle pattern so that bullish will continue.

we could use technical chart to predict market strenght.and usually profesional trader use price action and candlestick analisys.in this analisys we could know the momentum that will bring direction to market.

the best strategy usually takes advantage of a very bad situation to trade, when other people start selling because they feel the future is not good, then at that time we can take advantage of panic situations by buying according to our abilities, because buying at a falling price has a chance more for profit, or buying strategies for long-term savings, this is also a way of looking for profit in the future, because it can be predicted in the future prices will still rise again.

Yep... situation is too ambiguous. These flats after high green candles - best time to lose money ) nobody knows where price will move - up or down. It's hard to predict.