phil.steuerwald
Long

LTC BTC ETH - How I am trading? Cautiously. No volume.

BITSTAMP:BTCUSD   Bitcoin / Dollar
Bitcoin             . Litecoin. Ethereum             . How am I trading three? Cautiously. Why? Although, most of the technical indicators seem to be in place to buy, there is no volume . This concerns me. I have dipping my toes into this slowly with fairly tight stops that follow up (see charts for details). The most I have into any trade right now is %50 of my trade deposits. I will gain more confidence when I see volume follow. For now, I remain slightly suspicious and therefore, cautious, as we continue to move up.

I will allow my stops to sell me off unless we reach certain targets (more to say on that below). I started with a set stop (see chart for starting stops) and have been adjusting as we go. I think a 10% trailing stop is a good automated sell point but if we get to the following levels I will probably sell manually UNLESS I see volume come in to this market:

Litecoin sell target = $62.38
Bitcoin             sell target = $4389
Ethereum             sell target = $325

Bitcoin             chart above. Litecoin and Ethereum             charts below:








Kommentar: My Bitcoin sell target was reached. Litecoin and Ethereum did not. And, quite frankly, I don't see how they are going to without Bitcoin leading the way. More caution is advised here. Take some profits on Bitcoin and have your stops set per tolerance on the rest of your trades.
Trade geschlossen: Stop wurde erreicht: Trades closed on this one. Although I made healthy profit on Bitcoin, my Litecoin and Ethereum stopped out. Will sit in cash for a bit, reanalyze, and look for new entry points to reposition.
Declining volume could mean less available supply on the market (Wyckoff Method). A "markup" phase can then take place and the price rises. Know what i mean? :)
Antworten
@Agency, This is definitely true and something to consider.
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