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Storj / TetherUS

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STORJUSDT trade ideas

Storj (STORJ) - October 10Hello? Hello, traders. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- You'll have to climb over 0.7180 points to see if you can complete the massive floor segment. It has risen above the 0.3843 point and the low bottom section is completed. If it falls, we need to see if we can gain support and rise at 0.5038. If it falls from the uptrend line (1), it is a short-term stop loss. If you fall from the uptrend line (2), I think you need to trade to preserve profit and loss. (1W chart) -------------------------------------------------- ------------------------------------------- ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for generating profit as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
by readCrypto
STORJ - Simple Method: How To Spot A Potential BIG Breakout.STORJ is a money making chart. I like it a lot and have for some time. In this post I'm going to take a look at a potential breakout that is forming, some potential ways to confirm a breakout, and ways to spot potential target TP's. This is a simple guide, kept that way on purpose. There is a galaxy of information and strategies out there, so let's start small and work our way up. First things first, What is a breakout? A breakout, or a reversal, is a change in direction and breaking of trend; generally in the upward direction. A downward breakout is generally called a breakdown. Obviously, knowing how to spot these is a fundamental skill of trading, and a skill you can build upon with other more advanced techniques. So how do we spot a breakout? Well first we find a trend. In this case we can see a clear as day a downward channel formed on the 4H chart. Next we need potential places for this trend to end. Generally we find these by looking at previous resistance and support levels and observing how the price reacts at these levels. In this case we can see that the current support level has multiple points of historic reference and the downward channel stopped when we hit this level. But how do we know this will be a reversal? Well firstly, nothing is certain we just look for things lining up and call it appropriately. In this case we have a couple indicators up: Moving Average Convergence Divergence (MACD) - This shows the relationship between 2 moving averages of a security. Stochastic Relative Strength Index (Stoch RSI) with Exponential Moving Average (EMA) - This shows the relative strength of a security at any given time, with extreme movement in either direction generally being a sign of an incoming reversal (overbought or oversold, respectively). The EMA portion is useful for showing the average strength of a security over time, and can show whether long term trends are still present or have stopped. Volume Oscillator - This shows relative volume of a security, plotted in an oscillator for easier viewing. Lower volume can be seen as weakening trend, whereas increasing volume can be a sign of strengthening trend. Exponential Moving Average (EMA) - This shows the weighted average price of a security over time. How the price reacts to these average prices can tell a lot about potential future movements, and as it's an average price, you can often see pivots back to these levels in time of trend. In this case, we can see all the indicators listed above are pointing towards a potential breakout: MACD is just about to cross in bull divergence, RSI is showing Oversold with an uptrend formed already, volume shows bottomed out volume and EMA's are all above our current price. Again, this does not mean the price will for sure 100% do what the indicators say, things affect the market from outside and indicators are just indicators. But when we get many things in agreement, that tends to be seen as good potential. So how do we find our profit targets? We look at where the price has been before. In this case, we see that STORJ tends to hit it's fib levels very consistently. In that case we can usually plot our TP's along the fib scale, according to our taste for risk/reward, which you should have calculated individually before ever starting trading realistically. What do we do if it goes south? Well again, this is a personal preference thing. If you're making risky moves, set a tight SL below the current resistance level. If you're not the SL kind of person and make smaller, less risky investments; then make the investment now and if it goes down just reload and add to the investment. This allows you to average out the price, so when it does reverse you're in a better position to reap your rewards. Again, this is a very basic, bare bones approach. I'll go into some more fun stuff later :) -- I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you. If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
by cryptosince1963