How to spot bullish altcoins before they break out
I presented this trading model last week in @Chroma_Trading, gave a thorough explanation about why it works and also how to play it to maximize profits.
Lots of people profited from it this past week 🚀
1/10
I presented this trading model last week in @Chroma_Trading, gave a thorough explanation about why it works and also how to play it to maximize profits.
Lots of people profited from it this past week 🚀
1/10
The model
- altcoin pumps
- altcoin starts ranging
- price sweeps range lows
- price reclaims the range
- price creates higher lows in the discount half of the range
- Open Interest (OI) is going up
Example: $FET, +4R
2/10
- altcoin pumps
- altcoin starts ranging
- price sweeps range lows
- price reclaims the range
- price creates higher lows in the discount half of the range
- Open Interest (OI) is going up
Example: $FET, +4R
2/10
Trade Setup 1
Play it like a normal IRDRI (Impulse, Range, Deviation, Reclaim, Impulse)
Entry: imbalance inside discount
SL: Range lows
TP: Range highs
3/10
Play it like a normal IRDRI (Impulse, Range, Deviation, Reclaim, Impulse)
Entry: imbalance inside discount
SL: Range lows
TP: Range highs
3/10
Trade Setup 2
Bet on the expansion of the altcoin after exiting the range to the upside
Entry: range eq reclaim
SL: range lows
TP: wherever you feel comfortable TP-ing
4/10
Bet on the expansion of the altcoin after exiting the range to the upside
Entry: range eq reclaim
SL: range lows
TP: wherever you feel comfortable TP-ing
4/10
Open Interest
- OI rising = more people are opening positions
- price creates higher lows = bullish market structure
- range lows swept = next target is range highs
- price + volume + OI rising = momentum building up
Example: $MINA, +4R
5/10
- OI rising = more people are opening positions
- price creates higher lows = bullish market structure
- range lows swept = next target is range highs
- price + volume + OI rising = momentum building up
Example: $MINA, +4R
5/10
How to spot potential trades
- go to Laevitas and search the coins with the biggest OI % change in the past hour
- chart those coins and see if they are ranging and have not broken out yet
- go to Coinalyze to make sure the OI is rising
Example: $CFX, +4R
6/10
- go to Laevitas and search the coins with the biggest OI % change in the past hour
- chart those coins and see if they are ranging and have not broken out yet
- go to Coinalyze to make sure the OI is rising
Example: $CFX, +4R
6/10
What not to do
- don't trade coins with a very high market-cap as they are less volatile and more correlated to $BTC
- always make sure the OI is rising and the LTF structure is bullish
- don't be greedy with the TP or the SL
Example: $API 3, +4R
7/10
- don't trade coins with a very high market-cap as they are less volatile and more correlated to $BTC
- always make sure the OI is rising and the LTF structure is bullish
- don't be greedy with the TP or the SL
Example: $API 3, +4R
7/10
What pairs to trade
- altcoins that are not too correlated to $BTC
- they should still have enough volume to warrant another push to the upside
- only HTF bullish altcoins
Example: $AGIX +4R
8/10
- altcoins that are not too correlated to $BTC
- they should still have enough volume to warrant another push to the upside
- only HTF bullish altcoins
Example: $AGIX +4R
8/10
Portfolio results
I have been trading this strategy alone since $BTC broke 33k, only longs, and it's my best month in trading
Results: +15R
Win Rate: 81%
I closed most setups at range highs, but most of them went for > 4R
9/10
I have been trading this strategy alone since $BTC broke 33k, only longs, and it's my best month in trading
Results: +15R
Win Rate: 81%
I closed most setups at range highs, but most of them went for > 4R
9/10
All this models are presented on Tuesday in @Chroma_Trading, giving people an edge in the market one week earlier to capitalize on the current market conditions.
This is the last day when you can use the code SPOOKTOBER to join for a 25% discount. See you there!
10/10
This is the last day when you can use the code SPOOKTOBER to join for a 25% discount. See you there!
10/10
Loading suggestions...