A cuple days ago, I had alerted readers and tweeted to follows on the cup and handle price pattern for ADX as shown below:
In two days, the handle portion has now formed. Every handle pattern, in form and time, are all slightly different. IMHO, the handle is this cup and handle is beautiful! Textbook! The pattern would be invalidated if price goes below the lowest poin of the cup pattern. It's not even close for this to occur. So, be paitent, learn about the patterns, and have more ice cream!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
What about neo? your thoughts would be much appreciated. thanks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I just happened to look at NEO right at the huge dump this early morning. Grabbed up what I could and flipped it. It's being completely manipulated if you watch the books. On one side, a whale pushes the prices down, then another whale pushes them back up on the other side when the time is right. Slowly the selloff has started to level out, but at a lower price level currently.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What do you suggest? Should we hold or sell? I bought a few at 40$ - Should I book losses?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I can't tell you what YOU should do, but here's what I did: I saw the dump, made some flips, then got out with a small loss on my last purchase. The reason I got out was in anticipation of lower prices....$25 or so. It's a tough call in your position, you can cut losses, wait for the drop (that is, if you're confident in the drop), then get in at a lower rate for the longer haul back up to regain your previous losses. It's a very tough position to be in, because you have 3 choices really. Lose money now, and be done with it. Lose money now, hoping the TA is correct, and try to recapture the losses by buying at upcoming lows. Or hang on tight, set you sales ladder above $40, and turn off the market. Watching it fall is only going to make you more anxious. I suggest making a decision, and sticking to it, accepting all possible outcomes, and hoping for the best one.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
What is least likely? You pull your money, and flip it a few times today, and correct those losses. So don't bank on that idea, but cutting losses is a very important aspect of trading, so don't beat yourself up over it, but also don't expect you'll fill that void instantly either.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi Scarlet,
Thank you for such a detailed explanation! I really really appreciate it!:)
It helps when you make mistakes like these, and can't discuss it with a lot of people! I will hold on for it to recover! and maybe buy more at lower prices to average out! I did some permutations and combinations, and the booking losses and buying back at dips or averaging it out comes to the same thing! So might as well just hold on and buy more in dips :)
Lets hope for the best! Thank you so much for guiding me! Thanks a lot! God Bless! :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Haha, I know EXACTLY what you mean "can't discuss it with a lot of people" !!! Whether it be a significant other or just friends, no one wants to admit that they lost money, especially when you're playing with fire already. Most people will never condone trading like some of the people here do. It is a high risk gamble/investment, no matter what the analysis says. Compared to classic investments that span over a number of years, this type of trading dances on the line of investment and gambling, and most people are afraid to do that, and to add on to that most people don't want other people doing things they are afraid to do themselves....especially if some of that money might be in a shared situation with them.
Just make sure and learn every single time you make a poor decision. Figure out WHY it was a poor decision, and how you can prevent that from happening as best you can.
In this case, you wouldn't be in as much deep water if you laddered all your positions in. Next thing is that if you don't get to sit in front of the computer, or with a good trading app in your pocket all day, don't assume that coin's progression is going to work on your timing. If you're going to be away, setup an exit strategy on both sides of your buy ins. Ladder positions out at a gain, and also build in stop losses in case it plummets right after hitting that number you've been told it would hit but you just weren't there to sell it in time.
Don't give up. Also, don't expect anything over night. Only the truly on point with TA, and the truly lucky hit 100% and 200% gains on their entire portfolio overnight, and even with those people, it's a rare thing.
A good practice for starting out is to cut your investment in half. Whatever you think you're ok with losing, cut that in half, and work with that half...and don't expect that half to double over night. It is an exercise in discipline to trade with lower amounts for small gains, and on top of that, you are gaining invaluable experience for when you decide to up the ante a bit. Even when you do up the ante, don't lose track of your new found discipline.
The other major advice is the one piece of advice that all traders really know deep down, but always end up tricking themselves mentally into breaking the rules. DIVERSIFY! Never all your eggs in one basket. I don't know how many times I've lost hundreds to thousands by not being diverse in my trades, and relying on what "should" be a really good buy to hit where I want it to. Leave those days behind, and be satisfied with smaller percentage gains that are spread out among many coins with good potential, because it's very likely that some of them will not meet the expectations....and if that's where all your money is....well....it's not there anymore.
Always remember that a 2% gain in a week spread across the board of your portfolio (say 10 coins with good TA potential showing) is always better than a 5% loss in a day trying for one big win. Even if you get that 5% to be a profit that day, then next day it may fall 10%, and you're back to square one. Continuing to gain smaller percentages with lower investments will cultivate the confidence you need to go bigger and not be so anxious....and that same confidence will help you if you do get caught in a bad situation to explain how you did everything right, and you know you did, but you just weren't one of the fortunate ones that day.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
LOL!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
So it looks like the handle did drop below the lowest portion of the cup on ADX as you referenced in this blog. So where might it go from here? Thanks in advance
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi Summertooth, here is my ADX update. Please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/adex-adx-update-failed-cup-and-handle-so-give-up-and-throw-in-the-towel-here-are-my-thoughts-in-this-blog
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good analysis. I agree. Be patient.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit