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Patience

BTC in a big falling wedgeWelcome to a new market update. BTC made a huge dip after the tweet of Elon Musk. I personally don't care that Tesla doesn't accept Bitcoin anymore. Elon says nonsense and manipulates everybody. Okay sooo.. Elon says nonsense but we must be thankful. You need to buy dips like this. The altcoin prices were big blessings. After the dip I noticed something nicely. We are in a big falling wedge.. A falling wedge is a bullih pattern. If we break this pattern upside, we will be super bullish. When will we break it? I think that we will go up now till 54-55K and then we will bounce back to the big support around 41-42K. I have talked about this support in my previous update. If we will touch this support, we will bounce back up and then I expect that we will break the falling wedge. What did I do in this dip? I had a bag of usdt and invested 50% of my usdt in altcoins for the long term. I will invest the other 50% at 41-42K. If you can't handle a 20% loss, you don't deserve a 1000% return. Keep this in mind guys. Follow me to stay updated with the market, never be in panic and have patience. Your patience will be rewarded...
BITSTAMP:BTCUSD
by foebi
12
CAD/JPY - Patience is KeyWe predicted this potential price path on the pair. 20 days later we can see price has played out according to our price forecast. First and foremost - our directional bias was absolutely correct. Yes, the move took longer to play out than we anticipated; BUT - it really proves patience is a key skill in this game that you must have to become profitable. Overtrading, revenge trading, FOMO are all negative elements to any trader. Patience nullifies these and will turn your trading around.
Short
by Jal121
Most common mistakes in tradingHello my friends today i want to talk with you about most common mistakes in trading from my experience (any market but specially in crypto) And after reading this i hope you will avoid them 1- Not Patient Enough : I think this is one of top major reasons for failure in cryptomarket Most newbies in this Field are thinking they will be rich in few days thats completely wrong ...Any old trader here will tell you how the patience will paid off 2- More Than You Can Afford To Lose : only risk what you can afford to lose ... more than that will lead to alot of mistakes and you may close your position after any small drop before reaching stoploss point and thats wrong my friends 3- Not Using Stoploss : Stoploss is important but i recommend manual stoploss by candles closing not automatic one to avoid manipulation in market.. if you dont know difference between manual and automatic read my previous idea about it 4- Over Trading : Alot of trades every day wont make more money ...instead, it will make you more stressful and staring at charts all day resulting in more mistakes 👉Fewer in numbers and higher in quality trades per week or even month are enough sometimes best thing you can do is not trading at all when market is uncertain 5- Emotional Trading : Both fear and greed play big role in the market movement When you see most of people are greedy you should start taking profits partially ..and also try to avoid selling during panic sells 6- Revenge Trading : Like using all wallet to buy one coin (all in) or doing high leverage postion to recover losses fast usually end in liqudation or big lose and leaving market completely This market need you to be flexible 7- Ignoring Your First Plan alot of very good plans and managements from start but you continusoly change it by listening to other random people opinions trust in your self and trust in chart no problem from taking advices from more experience people but you should trust in yourself first by have your own view and own plan How many mistakes you find yourself doing it ...choose the number from above and tell us in comments
Education
by Babenski
43
$LINK: We've seen this before. What next?Ok there's a lot going on here, but $LINK has been following this pitchfork channel pretty well for almost its entire existence, so we have some precedent to work with. - 4 separate times it has touched and or broken below the lower blue 1.0 deviation on the pitchfork. After each of these times it's pumped pretty hard. - Chainlink has also climbed steadily in a nice channel before a breakout multiple times, as indicated by the orange boxes. I think that the market is primed for summer and that we'll see some ridiculous growth in the next few months. HOWEVER! I wouldn't be surprised to see people capitulate and for $LINK to retrace back to $20 dollars and touch that lower blue 1.0 pitchfork prong. Either way. I'm stacking linkies as much as I can. It's literally the most important project in all of defi and arguably all of crypto. I'm so comfortable in $LINK it's not even funny. Short term price action is just for entertainment :) Enjoy! ~ maxbro
BINANCE:LINKUSDLong
by its_maxbro
2
AUDUSDMy bias for this pair is to buy. Currently it is creating an inverted head and shoulders, a bullish reversal pattern. Once price breaks through the neckline of the of the pattern I will wait for a retest before buying up to 0.7750, the last place price stopped at and that also lines up with a key area. But before I get into this trade I need the following confluences: EMA Cross Break and retest of the neckline or higher low A bullish candle pattern However, price can do whatever it likes so if it does not break through the neck line it can always go down and break the 0.7600 level and go down to 0.7500, a Key area and a previous resting place for price in the past.
Long
by Rob-ert-Na-than-iel
EURUSDMy bias is that this pair is going long Fundamental: With the recent stimulus checks being pumped into the U.S. Economy, I believe that the value of the dollar will drop because the more dollars pumped into the economy equals a weakened currency. Technical On the 4hr chart, this pair is forming an inverted head & shoulders and once price breaks and retests the neckline it will give me clear confirmation that it is going up. I believe that price will go around the place where it last went when heading down. Which is about the 1.19300 area. From there it can continue to reach the next key level, which is where price also stopped in the past. But obviously I will wait for confirmation. Patience is key! HOWEVER: Price can do whatever it wants and if it decides not to break the neckline I think that it will break and retest the 1.1750 mid level-In quarter's theory- and go down to 1.1650 area, where price last stopped on its way up. Confluences: Break and retest of the neckline Candlestick formation EMA cross Higher low
Long
by Rob-ert-Na-than-iel
$BTC: Fighting to regain momentum.Right now we can see that bitcoin is fighting to get about the .618 fib pitchfork line. Honestly I'd like to see it reclaim the median before I go full bull mode again. Obviously I'm not bearish at all on the future of bitcoin, but short term price action might shake out some more over leveraged longs that get too excited if we break above 60k. A nice daily close above 63k would make me think that strong momentum pushes the price action upwards towards 80-100k. Let's go.
BINANCE:BTCUSDLong
by its_maxbro
Nasdaq - Patience !We have to look at current price action as a potential WXY correction since wave (x) retraced "only" 78.6% of the prior 3 wave decline. Right now we seem to have a 5 waves drop which could be wave a of the higher degree wave (y). Price is now at a potential support zone from which we could see a bounce and retracement of current decline, after which, another drop below support could be seen towards 12600, where we have to find support if the bullish narrative is to remain our primary outlook. Notice also that we have another potential Head and Shoulder pattern forming which if correct should take price towards 12200 BUT if price goes according to the above statemen,t down to 12600 and rallies back higher, the then failed H&S would again be a great bullish sign !
U
by ElliottWaveBelgium
1
Trading Plan that will help you become consistently profitableIn my trading career beyond having a strategy (actually multiple depending on market state and asset class) to base my trades on nothing has ever been as important as having a Trading plan. In this post I want to share with you my personal trading plan to help you create a set of rules that will help you stick to your plan and keep your emotions in check so that you can actually follow your trading strategy and become a consistently profitable trader. Something that was and still is key for me is the following realization: Never get attached to your opinion or view of why something should happen. The market is in fact always right and based on nothing but irrationality since its made by humans so the movements of the market do not have to make sense and at more times then not will not make sense. Trading is simply a mind game. Markets are a result of mass psychology which leads to exploitable edges. Mastering your own psychology is key to keep following the strategy that defines your edge. So now without further ado my trading plan template that has helped me so much over the years and I hope will help you as well: **General Rules** 1. Never enter a trade without a plan (TP,SL) 2. Once you are in a trade stick to the plan 3. Its ok to be wrong its not about being right its about making money 4. Be patient do not act on FOMO 5. Do not chase the market 6. Let your winners run and cut your losses short **The 5 fundamental truths** 1. Anything can happen. 2. You don't need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique. **Rules of consistency**I AM A CONSISTENT WINNER BECAUSE: 1. I objectively identify my edges. 2. I have predefined risk of every trade. 3. I completely accept risk or I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me. 6. I continually monitor my susceptibility for making errors. 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them. **Risk and Money Management** Do not increase the standard trade size before you doubled the account. 1. The maximum amount you are allowed to lose in a day is $XXX.  2. The maximum amount you are allowed to lose on any single trade is $XXX.  3. The maximum number of losing trades in a row you are allowed to have in a day before you stop trading is three.  4. The maximum number of losing trades you are allowed to have in a day before you stop trading is five. (You may have had a win or two between losses, but there is a time to stop trading.) The maximum number of losing trades in the same direction you are allowed to take in a day before you stop trading is three.  1. If you are up $XXX on a single trade, you will put a profit floor of $XXX underneath the current price to protect a portion of those profits.  2. If you are up $XXX on a single trade, you will take the money and close out the trade.  3. If you are up $XXX for the day, you will take the rest of the day off, stay away from the trading screens, and do something you enjoy doing—other than trading !4. If you are up $XXX for the month, you will put a profit floor of $XXX underneath the month's profits to protect a portion of those profits. If you are up $XXX for the month, you will take the rest of the month off, stay away from the trading screens, and do something you enjoy doing—other than trading! Take a vacation, sleep late and read books, or do something else fun.
Education
by TradingPit
3
$BTC: Heikin Ashi showing signs of a turn around? Patience!!On the daily heikin chart, we're seeing the first bullish doji forming, which is a sign of indecision and the possible end of this downward trend that we've been in the last week. This 26% correction is fantastic for reloading on fuel for the next push higher. There's almost a 0% chance that 58k was the "top" and that we won't see #Bitcoin push towards the inevitable 6 figures. I'll be looking to long the breakout of the top wick on this doji that's forming today. On the heikin ashi chart if price action was to push above that level, it would show an actual reversal in the trend. Be careful trying to long before that as the bullish doji in the micro downward trend might just be a pause before continuation. $BTC has multiple 30-40% corrections in its last run, and I would never count out the whales from a nice fake, followed by a liquidation of overleveraged moon boys, and then a subsequent earth shattering pump. Let's be patient and find out!
COINBASE:BTCUSDLong
by its_maxbro
1
CHFJPY🇨🇭🇯🇵 ( simple analysis for begginers ) 👨🏽‍🏫Hello Traders 🙋🏾‍♂️ Hope you had an amazing trading week just like we did !🤑 Here we go, shorting JPY once again.👍🏾 The pair has been loosing strenght, suggesting more upwards values on this pair. So quite simple analysis, using only pattern recognition. The pair created a bullish flag pattern, with a successful break-through to the upside. After 3 weeks raging, the pair managed to break the resistence of that channel, looking for new highs. After confirm a new high, on the last trading day from last week, we spotted a re-test on what I consider to be the new support, closing the daily candle above our previous high values ( the top of the flag pole, and all highs on our raging channel ). With only 50 PIPs of STOP LOSS and 150 PIPs of TAKE PROFIT, we have here a nice 1:3 ratio. Usually I always ask to close the trades earlier, but this one will deffo be a TP hit Feel free to use this trade yourself. 🤗 If you found this idea helpful, please leave us your fedback on the comments below and don't forget to follow us so you don't miss any of our ideas. 🙇🏾‍♂️💙 Have an awesome trading week chaps 🍾🥂
Long
by TRADESBYZION
66