Hi guys, in todays session I started with a quick look at the crypto markets. Bitcoin today broke $63,000 for the first time (we bought it at $8130 back in May last year) and members who joined our crypto site in October did so at $13.300 so its been incredibly profitable (sometimes wild) ride!
Best of all many of our other portfolio coins and tokens have made considerably more profit and I believe that there is more to come in the next few months. However, you do need to know what you are doing, have a plan, rules, structure, discipline. Sounds familiar?
Member Steven’s son failed to do so and even worse used leverage and managed to lose all his money and more 🙁
Check out my intro to Crypto course here: Crypto Course
This week Pierre was struggling to find many Earth & Sky setups so I focused on the bigger picture with M2 where there are plenty. I also went the other way and showed how to trade M3 on shorter timeframes when markets slow down.
As ever flexibility and the ability to think on your feet wins the day.
All explained in today’s recording
M3 Shorter timeframes
See the new course (non-members will have to sign up to see the course) & recent blog posts as to how I do this: I do my analysis on daily and weekly charts first and make a note of the MAJOR areas of support and resistance. Then copy them on to Pierre’s Earth and sky template. Then I make a note of the weekly & monthly pivots points and add them to the charts. You will see lots of opportunities line up during the week. The important thing then is to select a bias for the next few days and do NOT take trades if the price is too near a trend line or pivot. Ideally, you want to buy when the price is near a major support and or pivot point line and has the potential to make at least 40 pips. Vice versa for a short.
New members, please note: If I am looking to take a trade long, for example, 1.5000, I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.
We are NOT a “tipping service” our aim is to teach you how to trade for yourself.
For more up to the minute, updates do not forget to drop by the forum.
Watch the video for more detailed explanations of this week’s analysis and trade plan.
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