#PYR/USDT#PYR
The price is moving in a descending channel on the 1-hour frame upwards and is expected to continue.
We have a trend to stabilize above the moving average 100 again.
We have a downtrend on the RSI indicator that supports the rise by breaking it upwards.
We have a support area at the lower limit of the channel at a price of
2.28
Entry price 2.28
First target 2.39
Second target 2.50
Third target 2.61
Pyramid
#PYR/USDT#PYR
The price is moving in a bearish channel pattern on the 4-hour frame and sticking to it well
The price rebounded well from the lower border of the channel at the green support level of 3.80
We have a tendency to stabilize above the Moving Average 100
We have oversold resistance on the RSI indicator to support the rise, with a downtrend about to break higher
Entry price is 4.00
The first goal is 4.45
Second goal 4.75
Third goal 5.28
#PYR/USDT#PYR
The price is moving in a triangle on the 12-hour frame and we have a support area in green at the 7.50 level
We have a higher stability moving average of 100
We have a good bounce being prepared from the lower border of the triangle once the downtrend is broken
The RSI indicator has a downtrend that is about to break higher
Entry price 7.93
First goal 9.53
Second goal 11.25
Third goal 13.00
How Do You Build A Position With Pyramiding?As a trader, it’s a general rule of thumb that we should always be looking to maximise potential returns (per unit of risk) with each transaction. We should always be looking to squeeze as much out of the market as we can.
There are times when this can occur by simply letting the trade run its course. However, sometimes market conditions align perfectly for savvy traders to “press the trade” or Pyramiding into the trade.
Don’t press your luck; press the trade instead!
Attempting multiple entries in the direction of a trend is one strategy savvy traders use in an attempt to maximise return (otherwise known as Pyramiding). The problem with this tactic is that while it may increase the potential reward, having a larger position in the market also opens you up to more risk. As a trader, you need to find the perfect balance of pressing the trade while not pressing your luck.
There are a few ways to achieve this:
If the market is moving at a snail’s pace, and not much movement has been made from the initial entry, any additional entry should be minor. If, however, a decent distance has been travelled, a trailing stop will secure more profit, and any additional entry can be larger. In essence, any additional position sizes are partly dependent on the distance between the initial entry position to stop loss.
Ensure you have a strong driver that pushes prices along. Simply pressing trades at random is not good risk management.
Reduce risk on entry by only adding additional positions when the stop loss on the first position can be trailed.
Pick your battles carefully when Pyramiding
You may find that as time wears on, you’re left with a large portion (>2% of total equity) in a single trade. The tactic of adding exposure will generally make for a “short” pyramid, which typically won’t grow over 2.5% of overall equity. This Pyramiding tactic ensures you’re exposed to additional upside while minimising downside to a level with which you’re comfortable.
Here are a few things to be wary of:
Keep an eye out for drivers that influence market psychology: This is when momentum and volatility will be high, allowing you to pyramid into a move more easily. For the technical traders, you may prefer to avoid day-to-day shifts by taking in a broader market view.
Diversify: as with any investment, don’t place all your eggs in one basket. Diversification is key to keeping overall risk low.
Have strict risk limits in place: With 2.5% in one pyramid, another 2.5% in another – next thing you know, your overall portfolio heat is close to 10%. That’s a high amount of risk to carry around with you. Consider minimising position sizes of certain trades to reduce overall risk.
Consistency is key with position sizes: If your initial entry is $100k and your second is $300k, you’re off to a lousy start in building your pyramid.
Final Thoughts on Pyramiding
Remember always to start small and slowly. There’s no need to rush in. Experiment with pyramiding until you’re comfortable with your approach. Always remember the two key elements to consider:
Resist the temptation to take profit early when the opportunity arises. Sometimes it’s best to sit on an existing trade.
Be wary of adding to your trade at “worse” levels. Trends will always end at a certain point, so you don’t want to be pyramiding into an extended, ongoing trend. Look for new trends to pyramid in, which will reduce your overall risk.
Bitcoin breaks the channel and dumps, where to nowSo we have broken the channel and are falling inline with my idea, and look forward to watching this play out. Im looking further ahead with this idea that may see another bull trap after hitting mid-high teens from the previous plan, so the market makers can try for another shot at trapping people in before another further drop to the bottom to extend the market out further
COIN : OUTCOIN bounces out of the descending channel that it's been rolling in since the beginning of the week.
Has a base of COIN been established at 300?
Starting with a horizontal ray at 310 (the bottom of the big drop),
I began using rays to connect the higher wicks together, and then the lows together.
After that, I extended some rays to the left and looked at where all the lines intersect.
Using these lines and points, I placed pitchfans, lining the outside edges up to the rays.
Once I established the main placement of the pitchfans,
I removed some unnecessary rays
and then edited the divisions of the pitchfans in the settings, lining up the divisions to wicks of the inner candles
in the most meaningful ways that I could.
If you zoom in you can see that every single line on the chart aligns with atleast 2 wicks or 2 candle bodies,
other lines line up with quite more.
Each line is specifically placed while considering wick importance and # of wicks aligned.
Fib spirals too.
2 triangles were then placed forming a pyramid structure
in order to express the fact that one of the reasons
that I am currently analyzing the trends in COIN price action in this way
is to try to establish a possible price base of COIN after its IPO fallout
to use as justification for a possible and timely buy in.
And here we are, 50 cents above that initial low point after the IPO.
Will COIN continue to roll downhill, or will it start bouncing higher?
I am not completely sure, and tomorrow this chart may look quite different than it does now.
It's fascinating.
Got my eye on COIN...
watching for a "heads bulls win, tails bears lose" scenario.
//Durbtrade
Custom pyramid strategyHi all
I want to share a new approach I have been trying for the past year with great results.
Normally I would try to create a script that would create 100% trades, meaning that each emittet alert would sell 100% or buy 100%. I fell in love with the pyramid strategy because this keeps you in the market as much as possible but I was still missing something. In a standard pyramid strategy you would buy at several levels and then at some stage sell it all. And that works great in most situations but I saw several times that selling all could end up throwing you off the market at an early stage of a bull run. So I created my own custom pyramid strategy where the percentage of both sell and buy orders are based on volume and other indicators.
The percentage is calculated to be exponentially rising if orders of the same kind happens concurrently and then if an alert of an opposit order should emit then percentage of that order is calculated from the position in the major trend + the volume at the certain time.
This enables me to stay in the market and not miss out on major jumps. Granted that I might not have everything in the market at all time but I am never missing an opportunity. So I guess this is a matter of temper/risk at least. :) I prefer not having risked it all at once. How do you prefer to trade?
I have published a script to show the results from my findings (click the image below). This script shows how it works with BTC but it can be fitted to work with most of the major coins. It works best with the major coins because of the volume.
BTCUSD | Illuminate confirmed!!1Taking a a look at previous price action of BTCUSD we can see a clear symmetry between the current price and the price when the ICO initially was launched. The 120 EMA is a clear uptrend converse to the bearish action during the March - April EMA.
Taking into consideration BTC has continued to follow this consistent pattern of rising to the next fib line, resting, and then continuing onto the next highest/lowest.