You are viewing a single comment's thread from:
RE: STEEM: Breaking upwards or about to break upwards?
Thanks for the update! I'm pretty new to currency trading... I always enjoy reading blogs that talk about the current trend. I'm sure Steem will continue to rise! :)
Thanks!! I can't predict if steem will go up or down, but I can say what charts I study and what signals I look for :)
Any signals in particular you recommend a noob should be on the lookout for?
Well, as I was saying in my post - the main thing i was looking at right now is the poloniex steem chart with the 'candlesticks' set to '1 day'. Then, what you need to do is wait for the lines on the bottom part of the chart to switch from being 'red' to 'green'. But it's not that simple since many traders are looking to buy on exactly this same signal (red->green)! So, to be sure you catch the break out, you may want to buy before you think it's about to change from red to green. However, often charts have a nasty habbit of not doing what you think they look like they're just about to do!
Another way is to just stare at the chart 24/7, and try to catch the break-upwards exactly if and when it occurs! ;)
Note: This is not trading advice, btw :) also, there is nothing certain about this red->green change guaranteeing a price increase...instead, this is just one particular strategy which may or may not work.
LOL. Oh okay... I'll be sure to wear my contacts when I stare at the screen 24/7... helps so I don't have to blink as much! :P thanks for the advice btw. Solid! I may not understand currency trade that well... but I do know the difference between red and green now. lol
Great. And good if you didn't buy yesterday like me, as the whole crypto market is red, and steem got swept up in it. On a day like this, all the cryptos on the first page of poloniex are shown as red (you can take a look ;) ).