Wen: Short-Term Wave (Trading Basics)

6일 전

This is a short-term chart because we are looking at the daily timeframe. The pair is WENUSDT, a cat. I don't know what the cat means but our focus is 100% on TA, and the chart looks good.

In early 2024 WENUSDT produced a bullish wave coming out of a major low and reversal pattern. This pattern was small/short in time duration.

The correction led to a higher low and we have a new reversal pattern, this time big/long in time duration. This is the law of alternation. While in the past the pattern was short, in the present in becomes long.

The initial bullish breakout already happened in November, last month, and the highest volume session ended up being green. The highest volume since March 2024. Having the highest volume day being bullish reveals that the bulls have control of the chart. The bulls being in control means that we are set to see prices rising long-term.

I am mapping a short-term move with growth potential of 82% and 149%. This can be hit within weeks after the move starts to develop. Say it takes 8 days for the next impulse. Once the impulse is in, the entire move can develop in 1-3 weeks.

Long-term it can go much higher of course, but we like to consider all timeframes, fast and slow.

Thanks a lot for your continued support.

By the way, how to trade?

Buy anticipating the next move. The main support is 0.00012000. If prices move to this level, buy more. Or you can quit at a loss. Above this level we are super bullish.

Buy in anticipation of the next move. When prices move beyond 100%, collect profits and move to the next trade. You can use the targets on the chart, or you can extract your own targets.

There is also a scenario where both targets are hit fast, within days. This too can happen, just as it can take longer than what we expect for prices to grow. We do not predict time, we work based on resistance and support.

As long as a pair stays above our main support, the chart/pair is good. If it moves below, it breaks.

When it moves above the first target we are in the bullish zone, and the rest is just to wait.

The main selling for profits strategies are as follow:

1) Hold long-term and sell the major portion high up.
2) Sell each time the candles hit resistance on the way up.

Both work fine. I like the one holding long-term and this suits better a big capital. A small capital would have to focus on making more moves in order to grow, but more moves can also result in more mistakes.

You can make many moves as long as you are doing it ok. If you make a mistake, stop, take a break and comeback and try to catch the right flow again. When you are winning, double-up, increase, take risks. When you are losing, reduce position size, reduce risk or quit. Take a break.

When doing good, do more.
When doing bad, go away.

Simple and basics.

I love you.

Namaste.