Hello to world of cryptocurrencies!
Here you can trade much much quicker!
Why you chose Gnosis?
Your chart is nice. But can you give please charts for ripple, etherium?
Topic: Why I'm buying GNO/BTC (Read 239 times)
Hey guys, first timer here. Brand new to the crypto world.
Bit of a background - I've been trading normal currencies (Forex / foreign exchange) for two and a half years now. I still trade there, however a buddy of mine introduced me into the crypto trading world last week, so I've been fooling around on the charts a bit. I am strictly a technical trader, primarily using fibonacci patterns, and important support/resistance levels.
My first trade going into this is long on the GNO/BTC. Looking to hold her for a few days, then dump it when my target is achieved. If you look at the daily chart on trading view (I think I'm using Poloniex price feed), you see this is the third time price has entered into this lowest zone. It's never broken below since the release. Despite all the speculation of this coin being a scam and whatnot, I decided to buy based strictly on people's trading emotions. You already see a few bullish candles rejecting this 0.0356 zone on the daily charts, showing us that the buying population has now entered into the pair, and the selling population is taking their profits. This is how the market works in a technical aspect. I am anticipating the trade head towards 0.080xxx, and that's where my profits will be taken.
Trying to inset an image of my chart here, not sure if it will work: (Edited - link wasn't working)
https://preview.ibb.co/fvNKE5/Capture.png
Thanks for viewing - -hopefully more analysis to come as I get into this crypto world.
-Ryan
Bit of a background - I've been trading normal currencies (Forex / foreign exchange) for two and a half years now. I still trade there, however a buddy of mine introduced me into the crypto trading world last week, so I've been fooling around on the charts a bit. I am strictly a technical trader, primarily using fibonacci patterns, and important support/resistance levels.
My first trade going into this is long on the GNO/BTC. Looking to hold her for a few days, then dump it when my target is achieved. If you look at the daily chart on trading view (I think I'm using Poloniex price feed), you see this is the third time price has entered into this lowest zone. It's never broken below since the release. Despite all the speculation of this coin being a scam and whatnot, I decided to buy based strictly on people's trading emotions. You already see a few bullish candles rejecting this 0.0356 zone on the daily charts, showing us that the buying population has now entered into the pair, and the selling population is taking their profits. This is how the market works in a technical aspect. I am anticipating the trade head towards 0.080xxx, and that's where my profits will be taken.
Trying to inset an image of my chart here, not sure if it will work: (Edited - link wasn't working)
https://preview.ibb.co/fvNKE5/Capture.png
Thanks for viewing - -hopefully more analysis to come as I get into this crypto world.
-Ryan
Jump to: