Sunday July 31, 2016 6:30 AM
There’s a lot of technical analysis out there. This is a very rare situation where the patterns say screw it all when it comes to Steem today.
As the daily chart above shows, deciding how to make the highest probability for trade Steem today doesn’t get any easier.
If we wind up green today above yesterday’s high, we hold or buy if we’re not currently holding.
If we close red today – odds are high we will get stopped out so we could reduce position and hold rest with stop loss as noted, and we would not buy if we were not already holding.
Determining upside targets after today is a bit more involved, so tomorrow we’ll get back to more conventional techical and pattern analysis.
But for today – this is all I need to know.
Steem 80% LONG
ETC 20% LONG
BTC 25% LONG (for steem and etc trades, not looking to hold)
NOTE: NOTHING IN MY POSTS IS INTENDED TO BE TRADING ADVICE. Please do not base your trades on any information presented in the materials on this blog as it is for information and entertainment purposes only. You are 100% responsible for your own trading decisions.