24 Hours Later, 7 Winning Crypto Trades!

in #cryptocurrency5 years ago

We are Tuesday and this is a follow-up on yesterday's blog post "Is using trend lines a good way to predict where the market is going to go?"

I really suggest that you read yesterday's post before this one so you understand what the analysis was for the seven trade predictions and for the first few hours, using Tether (USDTand AugurEthereumLitecoinStellar LumensMoneroRipple and Zcash.

24 Hours Later, 7 Winning Crypto Trades!


This morning I looked at the charts again and I think that the results 24 hours later are very interesting and can confirm or not if trend lines are useful in predicting a move up or down.

I am a student of the cryptocurrency trading course and if you are interested to join, use coupon code "michelsentme" at check out, I will get a small commission and you will get a 20% discount.

Let's see what the results are 24 hours later for each pair individually.

USDT/REP Trade Prediction


This is the chart for Augur and yesterday after 4 hours we concluded that the trend was going up. 24 hours later, it definitely continued to go up and stayed nicely within the trend lines.

The blue arrow is where I would have entered the trade.

A $1.2 jump in price for Augur and this trade would have been a winner.

USDT/ETH Trade Prediction


Ethereum did very well even if it didn't stay within the trend lines, the trend up was still correct. The moving averages still continued to go up as well with no sign of turning down.

The blue arrow is where I would have entered the trade.

As you can see that's a $15 jump up and this trade would have been a winner.

USDT/LTC Trade Prediction


Litecoin did also very well until the last candle where massive sells took place. It didn't stay within the trend lines, but still followed the trend up. The moving averages started to lose their strengh up and started to turn down.

The blue arrow is where I would have entered the trade when a candle touched that line.

Yesterday I thought this would have been a losing trade after 4 hours, but it recovered afterwards and selling at its pick before the fall would have made $2 per coin.

24 hours later, it's still a winning trade.

USDT/STR Trade Prediction


Stellar Lumens continued to go up, not as fast as the trend lines would have suggested, and it did a nice pick. The moving averages continued up slowly and then turned down slowly. 

The blue arrow is where I would have entered the trade.

24 hours later, it's still a winning trade, but it would have been wise to sell at it's pick, which would have been a nice jump up.

USDT/XMR Trade Prediction


Monero also went nicely following the trend lines and touching their point of convergence, which would have been a good time to sell. The moving averages continued up nicely before losing power and starting to turn down.

The blue arrow is where I would have entered the trade.

24 hours, it is a winning trade, but selling at the higher high would have been ideal with a $10 gain per coin.

USDT/XRP Trade Prediction


Yesterday, Ripple started a nice trend up staying within the trend lines and it did so for several hours until the point of convergence where it started to decline. The moving averages stayed very parallel for a long time as well. 

I would have entered the trade where the blue arrow is.
 


24 hours later, it's still a winning trade.

USDT/ZEC Trade Prediction


Zcash managed to go back slowly within the trend lines and the moving averages continued to go up and stay parallel nicely.

I would not have entered the trade because I thought it had an equal chance to move downward, but if I would have entered it, the blue arrow would have been the point of entry.

24 hours later the trade is a winner and selling at its pick, just on the upper trend line, would have gained $13.

Conclusion

Now that we are 24 hours later I can see clearly that trend lines used together with moving averages can give a very good indication of where the trade is going.

During the first few hours, it is a good idea to monitor closely to see if it's really going up as expected and use the trading rule #1, if the market does not prove me correct, which is exiting the trade.

Then, it seems that at around 18 hours is where there can be a breakup and the best time to sell before the trend turns down. 

I hope this is helpful for you.

I use Coinigy to look at charts and place trades, if you would like to try Coinigy please use my referral link https://www.coinigy.com/?r=842aeb1c because I will get $15 if you purchase later on.

Would you upvote this post and follow me for more because this will encourage me to make more posts about cryptocurrency trading like this one?

Michel Gerard

www.michelgerardonline.com

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This post has received gratitude of 5.09 % from @appreciator thanks to: @gmichelbkk.

Up voted, similar here

Thank you for upvoting and I am glad you have similar results.

Glad to see consistency wish you further smooth equity curve

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