Hey Luc,
Looking at ETH/USDT and trying to ID the bases and where I want to buy/sell. I circled what I think are the bases based on the bounce and drew another circle where I will sell if I get the buys. Is this correct using your method?
RE: Im going to be away for the weekend
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Im going to be away for the weekend
I'm not an expert. but it looks like your sell circle on the end there is above your base. This might work for you possibly, but not gaurenteed. Lucs method for the highest chance of making profit on your trade would be to buy "BELOW" the base youve circled on the right and then set your sell order right back at the base. Its almost 100% that the price will bounce back to the base when the price cracks below it. It is possible that it will go higher than the base and you could make a bit more. but sometimes it only comes up to just at the base and continues to fall lower so your sell might never get filled for some time.
I might be reading your plan wrong. but it looks like you are planning to buy RIGHT AT THE BASE. Like I said earlier, Lucs strategy is to buy when the prices craks BELOW that base. I would wait to buy until it is at least a good 10% below as well.
Hope this helps a bit.
Sorry if I misread your comment and this information was unnecessary lol
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I concur with thatguy25. I am no expert, but have been trading using Luc's method since a few days before he deleted his old channel (and have net profit so far).
Your first circle is a clear base, which is never cracked. With Luc's method, there is no buy signal.
Your second base is cracked, and is quickly retested. Where it is retested is your new base. (Marked with an orange line in my edit).
Your two middle circles are "safe" buy zones, until they retest the previous base. Your last circle is NOT a safe buy zone, there is no clear base defining it.
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please dont circle your bases, that will get confusing.. thanks for posting a chart tho.. I like the base you picked, only Im not sure where you intend to buy
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Thanks Luc! In intended to buy at the second to last circle from the right and sell in the last circle area. Ended up not executing as I was traveling.
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