Hello people.
Today, December 2, 2018 (year in the end) I would like to share with you a good trade made, and perhaps give a hand and a light to those who are starting to do TRADE with crypto-coins now.
October 19th and I started to observe MAIDSAFECOIN (MAID) on the Poloniex platform. Well, I like to use the crossing of moving averages as a reference in day trade and swing trade ... besides easy understanding and visualization, it is very easy to use.
I would like to point out that it was just graphic analysis .... Observation and action with few tools (I do not like to disturb my graphic). Simple seems to be more visible and as said is SIMPLE lol.
Analysis Tools:
- Candlestick chart
- Tendency line
- Moving averages
- Relative Strength Index
The chart was set to 4 hours being the green candlestick high and low red, of course.
The trend line was drawn by touching the lending bottoms, as he touched 5 times this line, strengthening, at each touch, the bullish trend (reassuring me every time I went up because I was in the bought position). I bought at 0.00003525 (blue circle) and sold at 0.00004200 (lilac circle) .. Some people should ask themselves "what did it sell at 0.00004200?", And I replying that it may be the resemblance to the time 4:20 rsrsrsrsrsrs
The strategy used in moving averages was the crossings. When the short-term average (green) crossed the long-term average (red) upwards. The averages were set for 72, long and 17 short term periods. When the crossing happened, I called and looked.
The relative strength index was very useful at the time of the sale ... I usually use this strategy for crypto coins, if the IFR gets too volatile in a short time I use it as time to get out. That was what happened and I was satisfied myth.
Note: this was the real reason I sold at 0.00004200 (not the resemblance to the rsrsrsrsrs schedule). When the IFR swung sharply I was terrified and happy at the same time. Terrified that this was happening and could fall sharply without having enough liquidity to sell (already happens with a friend, I witnessed and at least he had not invested much). This is one of the major risk factors for cryptos, volatility.
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Today I came to observe this asset and it crossed the trend line down, showing a probable reversal of trend.
I was happy, it's almost 20% profit ... 20%.
That's cool in the crypto trade, you can win a lot. More care, you can lose a lot too.
It's just for today.
So, see you next time.