(Trading) "4th BEST BTC short in all my life" (psychological / TA lessons and other things)
๐๐๐๐๐!
I'll write a lot because it's my first post here about Trading and I just love it, this article is meant to help
Every one of us traders have seen the highs and the lows of the ๐ต๐๐ถ, in my own opinion/experience I've seen it from the two sides, the loser and the winner, but that's not the point, when you do a trade, you hope for the best
If you are "๐๐๐๐" you struggle, you lose your patience, you pray to the god you believe "STOP FALLING"
and you pass through a lot of pain, when you experience that, you are doing it wrong... trading is not like that
๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐, ๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐
We just have to study and stick to the plan, the strategy, search for a good trading strategy that fits our personality, our capacities, our patience and discipline, ๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐ ๐ ๐๐๐๐, there are people that have to study like years, there are others that just only in months reach their goals
๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐, ๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐, ๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐ ๐๐๐
Things here are not black or white, green or red, things here are all about ๐๐๐๐๐๐๐๐๐๐๐๐๐, the chart, the colors, the sentiment, all of that was made to trick your mind and make you feel useless only because you can't control your emotions or the market itself
just ๐ ๐๐'๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐
Evolve your trust, trust your AT strategy and stick to your SL (Stop Loss), "๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐, ๐๐๐ ๐๐๐ ๐๐๐๐ ๐ ๐๐๐๐ ๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐" can't remember where I read those words but they are indeed some powerful ones, people tend to search x1000 strategies because ONE, TWO, THREE times they failed a trade and right away they think that TA is useless, that's so wrong
๐ ๐๐'๐ ๐๐๐ ๐๐ ๐๐ ๐๐๐๐๐๐๐, ๐ ๐๐'๐ ๐๐ ๐๐๐๐๐ ๐, ๐ ๐๐'๐ ๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐๐, ๐๐๐๐๐๐๐ , ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐!
In the next posts I'll do some lessons about Technical Analysis, Fundamental Analysis and Psycological Lessons!
Straight to the point (๐ป๐จ ๐๐๐๐ ๐๐๐๐):
I did this chart some days ago
I'll explain quickly:
that's a ๐ฉ๐ป๐ช / ๐ผ๐บ๐ซ chart at Coinbase (4H)
๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐ are support and resistances.
๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐ "๐ฎ๐๐๐" I know that Gap is when the price moves so fast that it leaves an empty space in the chart but I also call "Gap" sites to which I think the price should return
๐๐๐๐๐๐ ๐๐๐๐๐ are the set up of a symmetric triangle and the numbers up and down are the count of 'ceilings' and 'floors'
and at the end almost hiding (joke haha) ๐๐๐ ๐ญ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐ (with white levels instead of the default colors)
a little advice here, ๐๐๐ ๐จ๐ณ๐พ๐จ๐๐บ ๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐๐ ! ๐๐๐ ๐๐๐๐ ๐๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐ "๐๐๐๐๐ "
Most of the time you can't trick the 1D indicators and you always have to look at the candles, they don't lie (I use SLOW STOCH, MACD and WaveTrend Cross By Lazy Bear with Default Candles)
Learn to see what the market is telling you and forget that toxic attitude of making decisions base on what you want or need of the market, that kind of things can play against you.
๐ป๐จ ๐ ๐๐๐๐'๐ ๐๐๐, you just have to study ๐จ ๐ณ๐ถ๐ป and simplify the things you learn to get an a Idea, all the people are doing and creating charts, with BAT patterns, Elliot Waves, just Resistance and Support levels but if your TA is good enough you'll see the same thing that good traders are seeing
so, the next thing, after 2 or 3 days was this
and then I spotted and confirm a H&S bear pattern at 1D before the breakout, that was an easy one, some of the alts where making the same exact pattern
and then
but, to demonstrate my point I did this chart, don't have any screenshot of it point by point because I did it at ๐๐๐๐๐ ๐
here it is
a Gann Box (kinda like fibonacci levels) with market cycle wave counts
all the points where made taking the ceilings and floors of the indicators and the gann box
here the example
I'll explain quickly, I did that chart when the BTC price was at ๐๐๐๐๐ ๐
๐ We had our first call at 6.230 USD after making a clean floor at the 3 indicators at 4H TF (Time Frame) then the price had its first spike on vol, that makes ๐๐๐๐๐ ๐, then pullback at 6.289 making the old resistance a new support
๐ Then after the first pullback the price raised to create the ๐๐๐๐๐ ๐ and did a clean pullback to the ๐๐๐๐๐ ๐ making some room for accumulation
๐ You can clearly see at the ๐๐๐๐๐ ๐ that selling vol was very low, that's indeed a call to create the ๐๐๐๐๐ ๐ and the first spike before distribution, we did a clean pullback to ๐๐๐๐๐ ๐ (you can search market cycle method or wyckoff method to see the first spike before distribution)
๐ Right after making the pullback from ๐๐๐๐๐ ๐ to ๐๐๐๐๐ ๐ the price raised to create the ๐๐๐๐๐ ๐ and indeed the distribution point seeing a lot of BUY volume
After scalping all the grow I did want to keep it simple and I charted a Gann Box there, I entered a short position at 6.500 seeing that indicators where exhausted (and at 1D things where weak too I decided to short):
You can see that the MACD was closing below its 0 level (that's bear), the SLOW STOCH was touching the ceiling and the WaveTrend wasn't even touching the ceiling (that's bear because it means that the price don't have momentum)
๐ Right after I shorted the price falled to 6.431 and did again a clean pullback back up to make the ๐๐๐๐๐ ๐ and the spike after distribution, that's the place when you should sell, you can share that point in other charts, there's no distribution without pullback with less momentum
๐ & ๐ After the price reaching ๐๐๐๐๐ ๐ the price started to free fall to ๐๐๐๐๐ ๐ ceiling ( ๐๐๐๐๐ ๐ floor) touching the 0.38 of the fibo, that was a good place to do a pullback to ๐๐๐๐๐ ๐ (but no to enter a pullback-long position) the price did that twice creating point 6 & 7 making a double top pattern (bear pattern)
with 1D bearish and 4H bearish at the charts with that symptoms I knew this was goin' to hell haha!
What I'm tryin' to do here? not trying to be another "expert", I just want to ๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐ ๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐, you can follow signals, you can enter paid chats, but you've always be two steps behind because you really don't know what's happening
๐ต๐๐๐๐ ๐ ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐๐๐๐ ๐๐๐ ๐ ๐๐๐๐๐๐๐๐
I'll be sharing TA lessons aside with Psycological facts, books, guides and fundaments to help you improve your trading, scalp, swing, day trade, holder, you need to learn!
hope you guys have a good day! ๐๐ ๐๐๐๐ ๐๐ ๐๐๐๐
any comment is always welcome!
Cuando empecรฉ en el mundo del trading, todo era borroso, confuso, deprimente, algo muy lejano e imposible para mi de comprender y menos aรบn poder aplicarlo, eso ni pensarlo. Pero desde que tuve el privilegio de toparme con Blvck, todo ha mejorado, no solo en mis trades, sino en mi vida, que es lo que mas me ha impresionado, y probablemente sea el real sentido sobre el trading. Estoy muy contento de poder ser testigo y parte del proceso en el cuรกl cumplirรกs todos tus sueรฑos y metas.
Gracias por todo.
ยกยกยกNEVER SURRENDER, BRO !!!
never bro!