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Riskreward

Bitcoin Dominance vs AltsHello! Here we have a Bitcoin Dominance chart on 4 hour timeframe. What we can find from the picture: I have marked some with Red Circles . There is a bullish divergence on RSI (orange lines) shown on 4hr and also on daily chart. Which tells us that a possibly trend change could be close by. We did test the 200 Ema (red line) 2 times already but the bears got the hold like we can see from the price action. We have seen a crazy bull market (new money flowing in) with alts, Btc and stocks. I am getting little worried because of this. Everywhere you look there is something going 20% to 100% even in US small caps. Peoples speculation is at dotcom levels. I would suggest to slowly plan your future and possible exits if you see them fit, and look past all of the euphoria what is happening all around us. This is of course to you to decide. Right now we are on this trend line on the price and the RSI . I do think that we might need to go get some more speed again from the bigger weekly trend line which is little lower, around 60%. (Previous weekly analysis) We did already see a new Ath from Bitcoin yesteday but there clearly wasn't enough bulls. Otherwise we would have went to 50k. I still think alts has little more to go based on the previous assumption and also which one would you buy with 1000 bucks. 0,02 Btc (possible 20%) or 1000 to 10k pieces of shit coin? ( possible 40% to 100% RIGHT NOW). Point is Bitcoin is expensive and people see now only fast gains, free money everywhere. What I have understoond is that US economy is not really doing well right now and at the same time Stock markets are booming. They don't go 1 to 1 so be careful If you do trades use stop loss. Otherwise you will get your ass burned! -Jebu
CRYPTOCAP:BTC.DLong
by PalenTrade
3
Make profitable trading decisionsHi Fellow Traders The greatest tool in your arsenal is your Risk/ Reward rules when evaluating the potential expencency and outcome of each scenario. By using this to protect your account it may help you to survive long enough to be profitable. Risk/ reward is quite simple. If I risk $1 on a trade, I need to make on average $1.50 to be profitable. In other words, my risk is 1 and my reward 1.5, therefore it is a 1:1.5 risk/ reward ratio, which is acceptable to potentially enter a trade if it meets your criteria. You want to try an average between 1:1.3 and 1:1.7 when looking for trade opportunities. The Risk/ reward tool on Tradeview is excellent for evaluating and getting a proper picture of the potential upside and downside before making a decision. I hope you enjoy the video and that I have been able to contribute to your potential success as a trader. Please feel free to comment and reach out if you help. Regards Wayne_G
Education
by Wayne_G
1
EURGBP - Great R/R TRADE OPPORTUNITY!!!EURGBP - Great R/R TRADE OPPORTUNITY!!! This pair did my head in yesterday, nearly get stopped out but I was disciplined and the patience paid off this morning waking up to green screen! That's the best feeling but everyday isn't like that. Don't get your emotions get to you whilst trading, I actually learnt this the hard way and I'm still working on that but you are who you bring to the market, there are great psychology books to help with this - if you are struggling message me privately I will be sure to give you trading reading list. I got in at the lows of the formation, scaled in - Took 60% of partial profits got two more long positions in. Technical aspects: Pattern: Wedge Support: 0.88240, 0.88100, 0.87960 Resistance: 0.88380, 0.88520, 0.88780, 0.89100 Fundamental aspects: BoE TODAY - Focus on negative rates - I don't personally think they will go towards negative rates, vaccine roll out is positive, no further QE is really needed. Don't forget to enter this trade idea, add your own trading plan towards it. Add further confluence. Key tip: Be humble - There are so many ways to trade out there, but most important is if your way of trading is gaining capital - Keep Doing You! Have a great Thursday!! Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
1
AUDUSD - Trade Idea - FOR TODAY!AUDUSD - Quick Trade Idea! Technical aspect: Pattern: Wedge Support: 0.76085, 0.76050, 0.75920, 0.75880 Resistance: 0.76180, 0.76265, 0.76325, 0.76420, 0.76595 Break above key resistance zone and trendline down - Bullish momentum Break below to key support area, perhaps a candle close - Bearish momentum Key tip: You can copy all you want, but you will always be one step behind! That's the harsh reality - Remember this is just a trade idea, add your own trading plan to the idea add further confluence. Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal