Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: cryptothief on August 29, 2018, 05:26:39 PM
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I generally try to avoid trading while the market is consolidating, it is a risky time to move as the market can either break out above the resistance points, or drop below the support. Keep an eye out for a pair experiencing a series of higher lows, it could be the sign of a potential break out, especially as the previous resistance turns into support.
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Now is the best time to observe. So it is possible to understand the nature of the movement of prices in the market and what motivates them.To start trading is only just visible when the trend changes.
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Looking at the current ledu chart (can you predict the breakout?)
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It depends on your view and your trading type. If it is no worth at all, then it is no problem for you to break out temporally. Trading on bear market is quite tricky, the price tends to drop than going up.
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I opted out of the market for a while until I got better because the market like it had recovered somewhat
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while I stopped trading to avoid things I did not want, but for people who have expertise it is good to take advantage
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It is not easy to trade when the coins we have are falling in price, many traders are great by taking large profits by buying more coins when the price drops.Smart traders do a lot of things to make a profit, I think there are still benefits for those who are great at trading, but still in a trade there will be profit and loss
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I generally try to avoid trading while the market is consolidating, it is a risky time to move as the market can either break out above the resistance points, or drop below the support. Keep an eye out for a pair experiencing a series of higher lows, it could be the sign of a potential break out, especially as the previous resistance turns into support.
Spotting a breakout with this new strategy is quite profitable i read articles on internet saying after a consolidation breakout is quite powerful but whether to wait for a rebound from the consolidation will depend on how conservative you are, anyway the most important part is remember to put your stop loss.