The LSK darling has just created a pattern that is quite bearish. I believe this pattern will continue until the channel doesn't break downwards convincingly.
So HOW do I make MONEY? The interesting bit of a channel is you know two parts: 1. The money is in making Shorts 2. You need to square off position whenever you hit the lower trend line, when trend line breaks with volumes, enter the short again...
It's a fun play. Play it like a cat and mouse game. And please donate! I am a long way off from my college funds. I don't understand why don't loans cover USD 8000 of initial payments...
I am fine if you don't wish to donate! Just make the money that's ready on the table and spend it well on the most important person in the universe, - YOU! Take it as a gift from me!
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On a personal note: I am considering 0.001 as a comfortable up target with many zigzag swings... Remember to always-SELL at top, rather than buy at bottom of channel. It's better to have some profit than lots of loss. Same as the adage - Bird in hand ________ than two in bush.
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Wow... This has been fast... Did it break the range? Is this a backtest to short? How do I know?
Well, I am not going to short because it lacks volumes. It is too discomforting to short at this level as there are no violent moves either in price or volumes. I can safely assume this is a sucker-punch.
The moment high volume or price volatility occurs, I am in Short following the first message!
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This is a screen that I wanted to have...
What does it say? LSK is all getting ready to shoot up while its in its consolidating range. May go up and down, as in the down I quoted yesterday. So it may remain in this range for some time.
When it breaks the top, I shall enter!
Please donate!
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Seriously, explains itself. It still obeys the DMZ... Meanwhile, the uptick in BTCUSD has helped prices recover here too!
@Calm-Monk, It should go up from here to 0.0088 in two days if it holds the channel. I hope you have read the complete chart explanation I have provided. I have also provided on how to make money using the channel.
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@Calm-Monk, I also need to understand from what time perspective you seek answer. This post is specially for the short term. The DMZ zone will still be great cushion for downtrend. The other parameters don't change.
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@indian_ceaser, Yeah, thanks, I meant overall trend - if it will turn and be rising now for like few days or week.