ZEN: PATTERNS FAIL TOO!
Dear Traders,
Today I would like to share my personal thoughts with you in hopes to contribute to the trading community. When I was a novice trader, I used to trust patterns blindly, like they're sent by God! But I learned that the market SOMETIMES works according to patterns. Patterns are merely guides that help us explore possibilities. To make decisions, we need to take into account a variety of factors including the context, the CRYPTO TOTAL MARKET CAP, and BTC.D/ALTS.D. The context always matters. Whether the market as a whole is struggling, improving, or stagnating can tell us a great deal about what we should do. Sometimes you notice a bullish pattern, but you feel a certain degree of unease to have an active trade in the market. That's when you should slam on the brakes and keep a cool head. The CRYPTO TOTAL MARKET CAP can tell us what the atmosphere is like in the market. Even if you spot a bullish pattern, if the TOTAL Criterion spells bleeding, you should think twice before entering a trade. BTC.D in relation to ALTS.D and ETH.D could help us make decisions if we know how they correlate. Funding rates could as well help your decision-making. When they skyrocket, greed abounds in the market, and the market will have to cool its jets to sustain its health. All in all, what I have learned is that a pattern is not a forceful indicator of what's to come. Patterns work fine when you consider the above-mentioned factors and wait for confirmations to execute your trades. ZEN might have tricked some with its wicks below the floor of the rising wedge, which is a bearish sign. Add to the mix a MACD that was going to showcase a bearish cross. If you have jumped the gun, you must be in a difficult situation now. However, you can look back on this as a learning curve passed.
I wish you the best and all the luck in the world. Take care!
P.S: I'm no expert and this is my bit I thought I could put out to help. Certainly, there are genuine experts out there you could truly learn from. Thank you for your support and attention.
Today I would like to share my personal thoughts with you in hopes to contribute to the trading community. When I was a novice trader, I used to trust patterns blindly, like they're sent by God! But I learned that the market SOMETIMES works according to patterns. Patterns are merely guides that help us explore possibilities. To make decisions, we need to take into account a variety of factors including the context, the CRYPTO TOTAL MARKET CAP, and BTC.D/ALTS.D. The context always matters. Whether the market as a whole is struggling, improving, or stagnating can tell us a great deal about what we should do. Sometimes you notice a bullish pattern, but you feel a certain degree of unease to have an active trade in the market. That's when you should slam on the brakes and keep a cool head. The CRYPTO TOTAL MARKET CAP can tell us what the atmosphere is like in the market. Even if you spot a bullish pattern, if the TOTAL Criterion spells bleeding, you should think twice before entering a trade. BTC.D in relation to ALTS.D and ETH.D could help us make decisions if we know how they correlate. Funding rates could as well help your decision-making. When they skyrocket, greed abounds in the market, and the market will have to cool its jets to sustain its health. All in all, what I have learned is that a pattern is not a forceful indicator of what's to come. Patterns work fine when you consider the above-mentioned factors and wait for confirmations to execute your trades. ZEN might have tricked some with its wicks below the floor of the rising wedge, which is a bearish sign. Add to the mix a MACD that was going to showcase a bearish cross. If you have jumped the gun, you must be in a difficult situation now. However, you can look back on this as a learning curve passed.
I wish you the best and all the luck in the world. Take care!
P.S: I'm no expert and this is my bit I thought I could put out to help. Certainly, there are genuine experts out there you could truly learn from. Thank you for your support and attention.
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