This newsletter is sponsored by 2 amazing companies: VOYAGER and PHEMEX.I use Voyager for my spot trading and investing (and to compound interest) and I use Phemex for trading with leverage. Sign up to both with the links above and get some free Bitcoin. I really encourage you to check them both out - you know that I never endorse a product that I do not use!Make sure to use code SCOTT25 after you download the Voyager App to get $25 in free Bitcoin.I am not seeing much that is jumping out at me at the moment, but a number of people have asked that I share some ideas today. I want to be clear - there are no immediate trades here and I am not sure that I will be personally trading any alts in the coming days. These are the charts that I am watching - they should be viewed as educational, not as "signals." If you are looking to trade alts and are interested in any of these, apply your own system and see if they fit. I am attempting to offer “if,” “then” trades here - if a certain thing happens, then you may want to consider an entry.This was the case with POWR yesterday. I have had 2 people comment to me that they took that trade and it dropped. There was NO REASON to take that trade - I said I would take it if I saw a break of the descending line and retest as support. Neither of those things happened. Pay close attention to what I say about a chart - don't just FOMO in because you see it discussed.These could all fail before even triggering. They could all fail even after triggering, depending on what Bitcoin does. I think Bitcoin looks weak at the moment.Manage your risk and don’t take too many positions (if any). Trading altcoins is always risky, and particularly so now, with Bitcoin wavering.YOU ARE RESPONSIBLE FOR YOUR OWN FINANCIAL DECISIONS. You are grownups. Nobody can tell the future from looking at a chart. All we can do is take higher probability setups with good stops and position sizing.I am still in TCT and underwater. It looks "fine" but I should have probably cut it already. At this point, no reason to. I am still in 50% of my REN position, which looks strong. I discussed that in the chart requests yesterday. I have given a full explanation below of my TOMO trade, which I escaped in really nice profit before the drop. I want you to see how I played it.
The Wolf Den #63 - Potential Trades
The Wolf Den #63 - Potential Trades
The Wolf Den #63 - Potential Trades
This newsletter is sponsored by 2 amazing companies: VOYAGER and PHEMEX.I use Voyager for my spot trading and investing (and to compound interest) and I use Phemex for trading with leverage. Sign up to both with the links above and get some free Bitcoin. I really encourage you to check them both out - you know that I never endorse a product that I do not use!Make sure to use code SCOTT25 after you download the Voyager App to get $25 in free Bitcoin.I am not seeing much that is jumping out at me at the moment, but a number of people have asked that I share some ideas today. I want to be clear - there are no immediate trades here and I am not sure that I will be personally trading any alts in the coming days. These are the charts that I am watching - they should be viewed as educational, not as "signals." If you are looking to trade alts and are interested in any of these, apply your own system and see if they fit. I am attempting to offer “if,” “then” trades here - if a certain thing happens, then you may want to consider an entry.This was the case with POWR yesterday. I have had 2 people comment to me that they took that trade and it dropped. There was NO REASON to take that trade - I said I would take it if I saw a break of the descending line and retest as support. Neither of those things happened. Pay close attention to what I say about a chart - don't just FOMO in because you see it discussed.These could all fail before even triggering. They could all fail even after triggering, depending on what Bitcoin does. I think Bitcoin looks weak at the moment.Manage your risk and don’t take too many positions (if any). Trading altcoins is always risky, and particularly so now, with Bitcoin wavering.YOU ARE RESPONSIBLE FOR YOUR OWN FINANCIAL DECISIONS. You are grownups. Nobody can tell the future from looking at a chart. All we can do is take higher probability setups with good stops and position sizing.I am still in TCT and underwater. It looks "fine" but I should have probably cut it already. At this point, no reason to. I am still in 50% of my REN position, which looks strong. I discussed that in the chart requests yesterday. I have given a full explanation below of my TOMO trade, which I escaped in really nice profit before the drop. I want you to see how I played it.