What an exiting ride it was with Lisk today. I read the chat and a lot of people who missed the train in the first place wanted to take this ride to late. I tried to warn you but the fomo was to big. In the beginning i made the same mistakes, so i decided to make this chart for you.
Trading rules: 1. You missed the train. Bad luck but you have to wait for the correction (unless its the raging Bitcoin bull). 2. There is always a correction coming 30%, 50%, 60% most traders expect 50%. 3. Buy into long red candles sell in the long green 4. Don't trade on what the chat tells you. 5. Never get greedy. 6. Set targets to sell and buy 7. Never trade on feeling know yourself and learn from mistakes
By now i expect a correction around 50% but as soon as the rebrandening news hits, the correction is over so be aware. I compared this chart to the NEO rise look at the 4 hour NEO chart you see the corrections clear.
Hmmm... no dropping at all ;) What are the graphs you used ?
Bearahead
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@krzycho, Yes i underestimated this bull, i never do this again but it was not so bad to take profits at this point because i got in at the bottom. I will buy back in the correction. Graphs i use are the Bollinger Bands which are really accurate because you always see when something is oversold or underbought and the Ichimoku cloud trend is up when prices are above the Cloud, down when prices are below the Cloud and flat when prices are in the Cloud. The cloud also acts as a resistance.
krzycho
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Thanks for explanations @Bearahead. Unfortunatelly I was catched by emotions ( stupid me ;) ) - I sold it, and bought it again an hour later again ( for a bit higher price ) cause it was still growing... Now I'm locked with my investment because it was falling since then...
Bearahead
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@krzycho, everyone makes these mistakes just learn from it. Now you need to decide if you want to sell and why. To buy more lower or because we are going down more and never again up. It seems now is correction time which could possible go down to around 0.0013 maybe but that would be a very bad sign in the daily candle so if thats happen we go up very fast again. Now possible SHS are developing. Set a stop loss under the neckline if its broken you can buy back lower.
krzycho
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@Bearahead, I'm not going to sell - just wait. I think it's not worth for me now since I got it for around 0.0017. I think it'll go up soon again.
SummerSmile
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is correction over ?
Bearahead
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@SummerSmile, Correction target is around 0.00128. Formed HSH neckline is not broken and i think that will not happen. We have a new trendline at 0.0014 sell if the line is broken to buy back lower.
plainsimpl3
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Does it look like its forming H&S right now?
jeremyalain
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Thanks for the great advice! Speaking of NEO, I'd love to hear your thoughts on that at the moment. Do you think it will drop much more before trying to retest .010?
Bearahead
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@jeremyalain, I don't think so. Look how its build. It is a marketing campaign. The Matrix theme in cryptocurrency. Which company is taking this serious? It was a hype but one thing in these crazy crypto days i don't know is whats the campaigners think next to hype it again. As i see it now it will continue its uptrend. They released the new wallet which is called Morpheus. To me thats ridiculous but we are in a crazy bubble.