Ive watched most of the vids, especially the 'what support and resistance tells you', and all I see is Luc plotting random bases that have 2 or so spikes/bounces coming off them. I would like to know how big of a bounce (%) would it take to classify it as a base etc
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How am I going to deal with Segwit and BitcoinCash BCC? Should you get comfortable with taking loses?
I think a base is qualified by the distance of the jump off of it.
From what I can tell from his videos, the average bounce distance from previous bases where the the price cracked and returned (where the trade would have worked out) will help guide you in qualifying a new base. Similarly, if you look at the average fall after the crack you can guess how far the current crack is going to go before returning to base.
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So, usually, do you buy if the price cracks under the base?
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yes, as I understand it you start to buy at some distance below the base. First buy a little, and you also set up bigger buys for when the price drops even lower. This way it is layered (nibbling). To keep it safe: whenever you are making profit start to sell layered.
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thanks for fielding some of the basic answers for me.. much appreciation :)
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Maybe you can write the basics somewhere so we can study them. :D
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