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RE: NEO: Laddering Explained, Chart Pattern & Elliott Waves Combo both say BULLISH!
As always thanks for update...I haven't used laddering yet...but will need to consider...I pulled the trigger to buy back at $30 after selling off at $33 based on prior charts...but...as I get to understand your prognosis's better....realize the importance of laddering...
However...I get confused on how to set prices since I think in terms of dollars but am forced to set buy targets based on BTC ratio's...since BTC can rise or fall...not sure what dollar amounts will actually be...am I missing something with this?
Thanks for any insight...
I'm bit of an oddball. But here is what I do. I keep my ladders concentrated and watch the dollar value, MACD and chart patterns. I buy and sell when I sense a strong trend reversal. Since I'm a TA noob I rely heavily on fundamentals. NEO was bound to hit $40+ but after a massive bull run it started going down. price was showing a bottom and stabilizing around $28 level. So I went all in at few cents above $28. Now I'm HODLing till I see signs of a top and a trend reversal.
This is just what I do. If it fits your style use it. If not keep looking.
Appreciate the insights...
In terms of the ladders...what exchange do you use? Do you set the buy prices in terms of btc or dollars if allowed?
I use Binance, Bittrex, Kraken (mainly for margin trading). I use dollar values whenever possible. As I use concentrated ladders or no laddering at all little differences in value doesn't matter. So I use the BTC/ETH price approximately. Maximum time I leave my ladders open is 12 hours (in practice it's mostly 2-8 hours). I actively watch charts for a bottom/reversal or top/reversal using fundamentals, MACD and Chart patterns. When I sense a good buy/sell opportunity I jump in.
You have to be a very assertive and emotionless person or you could end up getting burnt using this strategy. It's safer to use a set of entry/exit points (ladders) spread across like a shotgun and just leave things be.
thank you for your insights
You are welcome.
I understand...it's a commitment...thanks.
Happy to help.