CRYPTO SECRETS ONLY A FEW KNOW ABOUT AND THEY'RE MAKING PROFIT!
Formulating possible candlestick formation before they form is essential to better understanding of the price action of a token. This provides a chance for a trader to further prepare for the possible scenario that can occur. In this way, a trader can have greater positions within the market. First step to doing the candlestick formation reading is, identify the key levels where most of the candlesticks cluster whether they are close to their support or the resistance. Next, understand the reason for this cluster formation as it's crucial to the anticipation of the candlesticks. Most reason for the formation are due to the demand increasing or supplies being loaded. Thus, once the candlesticks in every timeframe is formed for the day, you can identify the high and low price. Most of the candlesticks' formation in minutes or hours timeframe can have 2-3 bearish candlesticks and more bullish candlesticks if they're close to their support and vice versa if they're close to their resistance. As the candlesticks close, you can then formulate that since the bullish candlesticks has been consecutively formed, you can expect bearish candlestick/s to form in order to take the imbalances of the highs and lows of the daily trading range. This is just an example and you can keep on reviewing other candlestick formations within the same timeframe or varying timeframes.
There's this one secret that everyone needs to know in order to fully understand the market, may it be the phase, sentiments and other factors.
Only a handful knows this secret, most of the whales wait for the formation of altcoins to be fully realized before creating another big movement for BTC. I'll give you an example. Token A and Token B are currently moving downwards with a confirmation of an inverse head and shoulders pattern. Meanwhile Token C and D are currently in their unconfirmed inverse head and shoulders pattern with the left shoulder and head being created while the right shoulder is still on its way. Knowing this, whales will continue to patiently observe and await while the trading price for BTC is ranging, may it be hourly, daily or any timeframe. After Token C and D's inverse head and shoulders pattern has been formed, whales will then process a position in BTC with the intention of making a large move for it. In this example, it would be a long position for a rally to happen as the altcoins have formed inverse head and shoulders pattern. Other scenario also exists, if you have noticed this, you can also comment your experience.
HIGHLIGHTING THE DIFFERENCE BETWEEN A NEW AND VETERAN TRADER
SCENARIO #1: BUY/SELL DECISION MAKING
New Traders:
- I can buy at this level since it looks like it's about to climb higher and I can bet with having to gain 500% with this 50x leverage.
Veteran Traders:
- I can do more short positions at this level as the major resistances have just been broken and more shakeouts could potentially happen increasing possibilities for retracements and rejections. I will definitely use 5x leverage on this one with around 0.25%-2% margin and set up stop loss around this invalidation and take profit with these targets I've set up.
SCENARIO #2: FORUM
New Traders:
- Guys, I really think this token will continue to reach this key level and I'm assuming you guys must be thinking like this too.
Veteran Traders:
- With this price surge, we can safely assume that there are potential reversals that will take place as more buyers will join the rally and we can join the reversal instead of the rally with safe leverages and margin allocations.
SCENARIO #3: APPRECIATION
New Traders:
- Boom, boom, boom!!! I hope this token will still do 900x more!!!
Veteran Traders:
- I hereby thank the market for providing this opportunity of selling more of my HODLs and giving me the benefit of being one of those who are respecting the market movements.
DIFFERENCES BETWEEN A NEW & VETERAN TRADER: CURRENT MARKET PRICE
There are times when the market deceives you into thinking that what you already have in mind whether it's already with a confirmation of 80% above or not, there is still a tendency for it to go opposite the expectations you have in mind.
In this scenario, we will identify how new traders and veteran traders formulate their trading plans, that is if they have plans.
Trader A and Trader B both wants to take advantage of the market movement and could possibly be thinking the same thing but with different courses of actions.
Trader A is thinking of doing max leverage for a short position today with 25%-100% of his total capital.
Trader B is patiently waiting for the price action of the market and until further confirmations appear, that will be the only time he'll take action. While having this in mind, he also have formulated the type of trading action he will make. He will open a long position on the possible retracement closest to the bottom of a token, use 5x leverage, 0.25%-2% from his total capital as his margin and setup stop loss, as well as target profit levels.
Who do you think is the new and veteran trader?
ALL OF THE SCENARIOS ARE POINTING TO EXACTLY 1 DIRECTION FOR #DOGS
If you're new to the bull market and you're feeling 'lost'. You've come into right place.
Here's why.
We have identified 3 possible scenarios for DOGS. First, let's talk about the overall sentiment surroundings this token. Many wants to have this token's value to skyrocket. Which is pretty normal for how volatile the crypto market is. There are many who would rather risk it with memecoins instead of the the cryptocurrencies that have already established a reputable background in the market. Simple reason is the surrounding sentiment from everyone who wants to increase the total value of a specific memecoin and to take the 'chance' of a lifetime. We are not here to discuss this though. Instead, we are here to discuss the direction of this token in 3 specific scenarios.
The 1st scenario involves holding its current market price and retracing back to the Fibonacci levels 38.20%-50%. These levels are considered to be moderate levels for its correction. Hence, the reason why it's considered to be our 1st scenario, which would be tagged as most likely to happen.
As for the 2nd scenario. The probability of DOGS' price to move below the current support holding it is likely to happen. Since there are more traders hopping in the trend of DOGS. Everyone would surely want to get discounted prices and bring the price lower than its current price. Hence, it is safe to assume that the price may be lesser but it will bounce stronger for the demand will strengthen its momentum as well.
We are now at the last scenario. This scenario involves DOGS searching for a new support which could be below the supports highlighted in our analysis. Albeit, the more it tries to find another major support to hold it. Higher chances will be provided to increase its prices. However, we are also taking into account that the more it decreases. There may be a tendency for it to fully falloff. That's why, it's best to always observe this token and expect the unexpected.
TOTAL OVERVIEW OF WHAT BUYERS ARE THINKING ABOUT DOGS
We have got some good results with DOGS for every scalp and day trade we have executed. Right now, DOGS is still a highly anticipated token with high sentiments from memecoin lovers who are already hyping this token up. Thus, we have taken this factor as one of our basis for every entries we have made. The only time we can see DOGS entering a shift in the market is when it will take more than 5 rejections on a certain price. However, with its ongoing pressure, we might not see that anytime soon. As part of our risk management, we will only allocate NOT more than 2% of our capital to trade this token. For the strategy, we will keep on catching this token whenever we can see more discounts coming in.
DOGS, after getting listed has been speculated by many to pump massively. However, right after 1 certain news. DOGS immediately got corrected and went to the lower levels of 0.00097. Right now, after the correction has happened. Many are speculating the prices to get higher. This includes us. Since the current market sentiment of DOGS has been strong even though there were recent swing lows that has happened. We have identified certain bullish blocks at 0.00097, 0.0010. There should be more demands arising from these zones. However, we are also taking into account possible lows to be created before a massive pump may happen.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.