ADA about to pop
Cardano looks like it is in a wedge about to breakout with RSI and OBV on H1 showing bullish divergence. Good LTF trade set up here after a breakout of long downward trend line on HTF. Keep an eye on BTC as it is currently sitting at resistance and if it dumps it will tank the rest of the market. Wait for confirmed breakout before entering trade.
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Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
——————————————————————————————
Top 10 trading tips:
1. DO NOT FOMO into PUMPs.
2. Set a strategy and be consistent. The more you use the same strategy with the same $$$ amounts, you will be able to identify the winning set ups quicker and you will need to win less trades to be profitable over time.
3. Let your winners run and cut your losers short.
4. You will not win every trade, but if you are disciplined with great RM you don't need to be right all the time to win!
5. Before you enter a trade, make you know your target (or take profit target and let the rest ride) AND your exit strategy.
6. When you are up, you can use a trailing stop or trim off some profit at a logical resistance point with a stop loss at breakeven.
7. It is hard to deal with emotions when trading, set parameters up front so you keep your self accountable. (stop loss, take profit levels, etc)
8. Don't fight the trend. The trend is your friend.
9. Use multiple indicators to confirm your TA on price action.
10. Only trade what you are willing to lose. It will be hard to trade without emotions.
Please note:
- This is not financial advice.
- I do not take every trade I post.
- Never trade off of someone else's chart until you DYOR!
Trading bonus:
Phemex: Referral Code= EC7RK2
Phemex: Referral Code= EC7RK2
Trading bonus:
Phemex: Referral Code= EC7RK2
Phemex: Referral Code= EC7RK2
Disclaimer
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