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RE: Naked Trading, anatomy of a chart
I though it might be interesting to the readers of @tradergurl 's orignal post. Below is a chart of TRX/BTC which is showing an identical pattern to what we've seen described in the post.
It looks like 29th of April (on the EOS chart) is where we are today with TRX.
It'll be interesting to see if the patter repeats itself.
Interesting ! Remember Gamblers Fallacy though, because a pattern happened once doesn't mean it'll happen again.
At any single point there's a 50/50 chance the price will go either way. All you can do is stack the odds in your favour and manage the trade well, win or lose.
They're definately some sellers in the (blue area) so it might be worth a cheeky sell order around there somewhere. But... it still looks like an uptrend overall so probably woudn't go mad on the stop level being too far away.