Earlier this week we covered how to recognize trend reversals with nothing but plain old vanilla price charts. In essence this involves establishing a sequence of higher highs and higher lows (or lower highs and lower lows during a sell off) which should remain unchallenged during the meaty part of a trend.
When it comes to indicators I definitely have come round circle during my evolution as a trader. Like most of us I started out like a kid in the candy store, especially during the early ThinkOrSwim years, which opened the flood gates on the availability of advanced tools for lowly retail traders.
Many years back, during a period of introspection due to a series of losses, an old floor trader who was mentoring me at the time shared with me the most important rule of his 40-year long trading career: Simply trade the market in front of you instead of the one you want to be trading.
This is the fifth installment of an ongoing educational series that will cover the nuts and bolds of crypto currencies as well as the skills and knowledge required in trading this new asset class successfully over the long term.
BTC/USD is retesting the 10k mark this morning and on some exchanges even briefly dipped below it. ETH/USD has nearly been cut in half over the past three sessions, falling from slightly above 1550 to currently 860. And no better opportunity than a panic laden blood-in-the streets day for launching the next chapter of this series which will focus on tape reading and how to survive in the snake oil peddling casino that is the fledgling retail crypto [...]