Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
dEBRUYNE
on 31/03/2016, 20:36:56 UTC
There's no doubt I made a bad trade, but that really isn't the issue. Trying to break the trend line so you can buy at 250k is the issue. I'm just tired of wasting time on TA in markets that move according to the greed of a small number of individuals. So yeah, even if it doesn't go to 299k I'm pretty close to taking my profits while I still have them. Forex was more complicated because of how much has to be considered in the fundamentals, but at least when things happen you can figure out why and the answer isn't "because someone put up a huge buy/sell wall".

Frankly, because of the illiquidity of many cryptocurrencies, i.e., they can easily be broken by one "entity"/trader, one shouldn't put too much weight on trendlines in my opinion. Personally, I like to look at (major) horizontal support and resistances zone. They usually work best.