IOSTBTC breakout tradeIOST has been performing extremely well lately, and is now forming an ascending triangle pattern. As you can see it broke out of my previous trade pretty quick, due to the state of the bullish trend.
Trade it on your own risk with an entry on the bottom of the triangle with a stop loss underneath, or trade the breakout (convincing with volume) with a stop loss underneath what the current resistance line which may turn support.
Targets are the next three resistance points. I don't consider the first one a significant resistance line, though it might bounce back off to correct.
Don't forget stop losses - we all know what happens when BTC starts making trouble in the neighbourhood. Happy trading.
Cryoptocurrency
Cryptocurrency Base Trading Strategy - 150%+ Possible Weekly Cryptocurrency Base Trading Strategy - 150%+ Possible Weekly
Hello everyone, I am going to briefly cover one of my favorite trading strategies, Base trading. This is so simple, yet it yields me some really good weekly returns.
What are bases? Bases are the lowest current support during a specific time frame. On the chart above, the bases are indicated in blue horizontal lines.
What is my Base Trading strategy?
When the price of a coin drops 5% or more from it's original base, and the past data for the coin shows 80% or more the price of the coin has successfully gone back up to it's original base price. I use 5% stop loss on all trades.
Yes, you read that right, 80%+ of the time this strategy is profitable. Let's do some quick math below.
5 trades daily = 35 trades per week.
28 trades win for a minimum 5% profit each trade = 140% cumulative profit.
7 trades loss for 5% each trade = -35%
Total profit = 105% cumulative
You can use a 10% stop loss to have a slightly better success rate.
Below is the previous stats for the coin chart above:
Bases respected (how many times the coin has gone back to the original base support)
10/11 (10 out of 11 times)
Success rate
90.91%
90% respected in
19.17d
See Live stats of my Base Trading Strategy Plays --> goo.gl
this could be accum... just keeping track of this idea for the Lsome weird stuff going on with bitcoin, big players maybe don't want it to dip sub 6.5k...
wouldn't advise trading this chop but... I'd bet short term we go up 7050-7100.
