In my opinion this trade looks like a good 4-7 day long trade. Either today or tomorrow is when your going to start to see an uptrend. In my opinion, on the 5-6th day. You should sell it. Thanks,
StopLoss123
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It looks like the market is going into a bear cycle. In my opinion you should not trade anything until the market stabilizes it self again.
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Okay it broke the support line. This is due to the whole market being in bear. You should trade short and set your target near the next support line at .0001
@CharlieHustle, Hey Charlie, You can always presume the best time to buy is when it is low and near the support line. Right now it is almost right up against it. You will almost never buy it right at the bottom and sell it right at the top every time. So in my opinion you should buy either today at the average hourly low in the next hour, and take some of the loss now. Or tomorrow morning. Just hope that it doesnt pop off in your sleep. And then you missed the wave and risk taking your loss via buying in too late.
CharlieHustle
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@StopLoss123, Great analysis..thank you! One stupid question. Where do I find the "average hourly low" in Binance?
StopLoss123
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@CharlieHustle, The average hourly price average is a representation of how much the coin changed in value during that hour. For example, if a coin opened at $75 per coin, fell to $70 per coin and remained there until the end of the hour. you would divide $5 (the daily price variation) by $70 (the closing, or current, price) for a result of .071, representing a 7.1% daily price variation. Then when you open your trade(if the market is still going in that direction) You buy in at the previous hour price, + or - previous hours average hourly price. If you have some trading software to help you calculate that it helps. Lenoardo is a great one. I'll start posting the exact buy in prices on my next few trades for you guys.
StopLoss123
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@StopLoss123, excuse me: + or - the average hourly price average. Be it high or low. In this case it is now high. Because the market is showing bull signs.