At first thought you may be looking at this and say WHAT THE FUCK IS THAT!! And i wouldn't blame you, but im gonna share with you how you can predict every move the market is gonna make by making what im gonna show here today.
And we will go over on all the profits i have made from doing this! Its shocking!
I have always said that all you need is trendlines you don't need fancy indicators other than maybe Moving Averages but even those you won't really need.
So to get started go to Tradingview.com and in the Ticker box:
Type OMGBTC and make sure it says BITTREX
We will be performing the technique on OmiseGO since its a small chart and will help you understand it a lot better.
Make sure you put the time frame of the chart on 4 hours!
If you want the same layout as me you right click on the background of the chart and click on Properties
Next click on the Dark Theme Icon:
We use The Black Theme because it's better for your eyes in the long run trust me ;)
Okay so now we see the following infront of us:
Let's zoom in a bit more and see what we have here:
On the right side select the Trend Line tool this will be all we need!
The next thing you wanna do is Draw from point to point
From High to High and Low to Low! This is very Imortant
Okay to Illustrate it to you this are the first points for our uptrend Lines
Right now you should be seeing this on your screen:
If you want you can adjust the lines and the color in the setting by click on the trend line and a small window on the top will appear:
Next Draw your Bottom Trend Lines for our Down Trend once again from Low to Low!
You should be seeing the following now:
Now This is all there is to it 2 Lines is all you need one for the UpTrend and one for the DownTrend
We will start with the UpTrend line, Make sure you select it by clicking it and HOLD CTRL and Drag the line away from its current position, this creates a Copy.
Also something i forgot to mention is that if you wanna extend the Trend line from Both side simply select your Trend Line and in the settings window select the following:
So With that in place you can now hold CTRL and Duplicate our current Uptrend Trend Lines
And place it on the Lower part since we already placed one on the Top part of the chart.
Next Select your DownTrend Trend Line and do the same but since we already have it on the Lower part we now need to move the copy on the Top Part of the chart as such:
Now this is where it gets interesting and i'll show you why!
Next up we will continue copying all the lines and placing them in the corresponding places:
I will mark them Pink so you can indentify the new ones.
Yes i know FREAKIN LINES am i RIGHT :D can you keep up? :)
Now this will do!
We now have Created Trend Lines based on the History of the OmiseGO Market.
So you may be wondering 'now what?'
Now im gonna show you the positions that hold the profit
Once we had this market movement established that allowed us to create our Up and Down trend
We were then able to enter into Trades.
Right here i have potential Positions you could have placed trade orders on the 4 hour OMG Market.
Breakout occurs waiting for the candle to past and go above the trendline and close its first candle above it
once that criteria is confirmed i enter into the trade and i end up with a 65% Profit
We wait again for the trend to be broken and the candle to close above it the criteria is confirmed once again i enter into the trade for a an uptrend but i notice a massive pullback and sellers going on so i leave the trade mid way walking away with 30% Profit
a breakout gets rejected so i start a Buy order at this point im able to draw the purple trendlines so it gives me more of an overview in which direction the market will go, lots of seller came in i leave the trade and walk away with 17% Profit
I wait for candle to close above trend line and start a Buy Order i hold till it touches the very first point of the long Trend upwards and i notice once again sellers coming in, i end my trade and i walk away with 55% Profit
No breakout long extending wick, waiting for up candle to close and open above current trend and i once again place a buy order, i notice a big rejection on the trend so partially mid way the price of the wick i end the trade and walk away with 24% Profit
A Rejection candle appears again i wait for it to close above the trend line i place my Buy order and i now have the top purple trend lines drawn at this point so i have a good view on where the market would be heading towards, i wait patiently but i notice some rejection coming in so i end the trade and i walk away with 43% Profit
Okay so it should be clear that a lot of profit can be made by following what i have shown you here today.
To give you an overview of it all:
The Total Potential Profits made on OMG in a span of 2 Months! is 381% Profit
Now just imagine if you were to navigate multiple charts and trade multiple coins
Lets say they all have the same amount of profit and you are charting 5 coins in this way and taking the trade opportunities you see.
This means you would make a profit of 1905% in a span of 2 months
or each month make around 952%
so lets say you started out with $500 this $500 after 1 month would become if you traded with 5% of your capital on each trade it would become: $238 in Total Profit after 1 month!
Now this may not seem like a lot but it is because once you have worked it all up to lets say $4000 and take 5% as trading balance then you would make $1904 every months in profit! and its gonna be an exponential growth over time.
So as you can see i hope i was able to spark your interest in Trading crypto currencies because there is so MUCH MONEY to be made!!