RE: Trade like a profesional, with no emotions + building small accounts
Hi Luc,
Hope you enjoyed your weekend.
I was going over your videos (thanks again for doing that, you are the men) trying to learn, but just one thing I was unable to figure out by myself.
OK, so how to draw a “baseline” and buy on a dip after cracking it – understood, no problem. What I didn’t understood are the mechanics of buying above a baseline in anticipation of a bull run.
Just to illustrate my question and save you some time I use pictures. In your previous video you mention that one can BUY in anticipation of a bounce from a baseline.
But those are the same baselines we expect to be cracked, right? How do I decide whether the price would bounce (BUY close but still above the baseline) or wait for a crack and BUY on a dip? That question really puzzles me.
For example, on this chart (FUN/BTC), what is the logic behind BUY above a baseline in anticipation of a bullish move in points D, E, F ? (tried to find different cases of a bounce on one chart)
I think you misunderstood me.. You use the current base to decide where to place your safe circle.. and you buy within that circle.. but you do have to see evidence of a panic.. In the example above I waited for the next lower base to crack because I saw a slow grind down in price, not a panic.. so I didnt feel as confident to buy.. however all bases worked, and all safe circles were actually safe..
There is no buy above a baseline in my strategy.. its only below