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http://i.imgur.com/6RVJvfw.jpg
BTW, the stop loss on the 15 minute chart "extension" is 87 SAT. Crypto has a strong tendency to break these "red line" levels, technically breaking the trade, and then continuing after shaking people out (we see lots more of 76.4 level stuff in crypto - more indicative of speculative and emotional markets than stable markets). It's very common. With as healthy as I see DGB, I wouldn't be banking on too much of that on the longer term time frames - so don't hold your breath - but on the 15 minute, perhaps the odds are much better that those stops at 87 SAT get "run" . . . and that would be exactly what would take price down into 82 SAT where you'll get filled on the 2 hour time frame (longer term).
Have fun learning, and good investing to you (because, when it's all said and done, I'm not suggesting you become traders, just that you become better long term investors by improving your entry points).
BTW, the stop loss on the 15 minute chart "extension" is 87 SAT. Crypto has a strong tendency to break these "red line" levels, technically breaking the trade, and then continuing after shaking people out (we see lots more of 76.4 level stuff in crypto - more indicative of speculative and emotional markets than stable markets). It's very common. With as healthy as I see DGB, I wouldn't be banking on too much of that on the longer term time frames - so don't hold your breath - but on the 15 minute, perhaps the odds are much better that those stops at 87 SAT get "run" . . . and that would be exactly what would take price down into 82 SAT where you'll get filled on the 2 hour time frame (longer term).
Have fun learning, and good investing to you (because, when it's all said and done, I'm not suggesting you become traders, just that you become better long term investors by improving your entry points).
Nice work. Thank you very much for taking the time to share with us your charts analyzes, trading knowledge and advices.
We should all value that. My pleasure. Glad you liked it.
Sure man, great write up, loved it!
Glad to hear it!
Here's the current setup. (Remember, like I said, it works both ways, long and short.) There is a short setup on the 30 minute time frame at 99 that still hasn't traded. The stop loss on that short would be 103. More importantly, if 103 is broken to the upside, that would CONFIRM the long off of 82 (the last buy/entry point for bulls) with a conservative target of 128 SAT.
It's a neat little system that I like a lot.
Bittrex has much better charting tools than Poloniex by the way.