Turtle
VET - Already Brokeout, Catch the Retrace and Get Paid! R.I.Plleand now we lay to rest XRP, indeed all those troubles seem to have weighed this once promising titan down. A pity.
But like all things, when one opportunity gets delisted - another gets it's market cap.
And thus, we see MASSIVE gains across the alt charts, VET included. And yes BTC levelling off does indeed have a lot to do with the pump the timing of the XRP dump and ADA/VET/DOT/EVERYTHING pump was a little coincidental. No?
Indicators are all looking spiffy on this breakout. looks like a retrace is already forming up so catch it with an SL below the previous swing low.
TP on the chart is likely conservative if, in fact, alt season is upon us. Might be time to dust off your shells and get turtling!!
This is not financial advice. Want financial advice? Don't buy a new luxury car, it ain't worth the headache honestly.
SATOSHILITE SPEAKS! THE PROPHECY HAS BEEN FORETOLDYou all know how @satoshilite called the Litecoin top and bottom? Well he has spoken again! We have decrypted his last tweet, translating cryptic emojis to English. "All time high by 10th birthday," and Litecoin's 10th birthday is next October. We need no more information than this chart to see that the next ATH price should be around $1,300 - $2,300. Call me crazy.
Long RMD ( ASX) - Turtle Soup plus one
This is a variation of ' Turtle Soup' strategy by Larry Connors, from the book' Street Smarts'
The difference is entering one day after signal in direction of anticipated trade instead of the same day.
See notes on Linked idea ' Short WPL' which already booked a profit as a day trade.
Short WPL ( ASX) - Turtle Soup strategy by Larry Connors
CFD short few days only on WPL,
strategy based on book ' Street Smarts' by Larry Connors & Linda Bradford Raschke
1. Look for a new 20-day high
2. Must be greater than 4 days since previous high
3. Short sell order -a few cents below this old high as a break-back correction
4. Hold into close or next day only
Place stop-loss just above new high of same day
5. Target should be sensible
In this trade I shorted 400 shares
The 3 types of trendSummary
Introduction
Type 1
Type 2
Type 3
Conclusion
Introduction
Trends are not created equal, there are 3 types of trends, I am not a trend trader that much but I can identify trends and tell the difference.
This is what I know about myself:
1- Strong trends
Examples:
Ways to define these strong trends
- Eyesight
- With a momentum indicator (not a fan)
- With a trendline
- With moving averages
As you can see, there are not many pullbacks with this type of trend - once it pullsback it is a reversal often, so how best to participate in this?
2- Medium trends
Not going as much in detail here, don't care so much. Plus you get the idea anyway.
Medium trends are not as awesome, they get quite choppy. Just not as good to participate in, in my opinion.
Examples:
Same ways to define it, but trendlines have smaller angles, RSI not as high, and use EMA 50 rather than 20.
Ideas to trade, similar with 1 big exception:
3- Weak trends
Ooooh what's that smell?
I could trade it like a consolidation with a bear bias (only go short) in a downtrend?
NO! In this EURUSD example you can see tops go lower, then higher, then lower.
It is not clear, super choppy. The price is generally going down, but there are no good entries.
Unless you do not mind a risk reward of 1 while trading a daily chart...
The thing that makes holding weeks > get in and out is you can get high risk rewards,
cumulate uncorrelated positions (which reduces overall risk), hence increase your profit without having more risk..
(Bonus) The "I am going to zero" trend
Summing up:
About the 3/5 group of strategies I have posted:
1/5 (The 4 kinds of bottoms) = Supply & Demand
2/5 (Buying pullbacks style) = Trend following / Troll strategies
3/5 (Trend continuation breaks) = (Strong) Trend following