Sirwin
Sirwin

Documented Trade #3 | Results


There was quite a big altcoin drop against bitcoin across the board recently which caused me to get stopped out on my latest trade. This is how it played out exactly.

So my 3rd documented trade was on Zilliqa when it was reaching some key support levels in anticipation for them to hold making another move higher. Unfortunately, the market decided otherwise as there was a drop on pretty much all altcoins.

Trade Setup:
xxx222.jpg

Trade Result:
xxx229.jpg

Early after taking the trade, it looked like it was indeed going to move up but the support ended up failing with quite the big move down after it set a lower low. Right now, the price is trading around where I set my stop-loss and things don't look as bullish anymore.


This was actually the first losing trade I made since starting out and I guess I should set my stop-loss a lot tighter instead of around -7%. If there is a move on the market, it tends to happen across the board with not all that much that can be done about it.

Previous Documented Trades
Documented Trade #1 | Chainlink  -> Complete +20.9%
Documented Trade #2 | Bitcoin -> Complete +0%
Documented Trade #3 | Zilliqa -> Complete -7.07%

I still have to properly learn how to set stop-loss targets and will be doing some more research on it soon bringing a summary of everything I'm learning in easy to understand bite-sized pieces.


Previous Technical Analysis Lessons
Technical Analysis #01 | Basics
Technical Analysis #02 | Trends
Technical Analysis #03 | Bearish Patterns
Technical Analysis #04 | Bullish Patterns
Technical Analysis #05 | Symmetrical triangles
Technical Analysis #06 | Volume Indicator
Technical Analysis #07 | Moving Averages
Technical Analysis #08 | MACD
Technical Analysis #09 | RSI
Technical Analysis #10 | Fibonacci Retracements
Technical Analysis #11 | Candlestick Patterns

Free Software I use for Charts
Tradingview
Platform I use for Trading
Binance

I continue to learn and move ahead onto the next trade. An update on my previous Chart Watchlist will also soon come.

Hive: https://hive.blog/@costanza
Steemit: https://steemit.com/@costanza
Uptrennd: https://www.uptrennd.com/user/costanza
Twitter: https://twitter.com/costanzabets

How do you rate this article?

50



Costanza Technical Analysis
Costanza Technical Analysis

Journal on my journey to learn Crypto Technical Analysis

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.