/biz/ - Business & Finance

>>23899385
lol not at all, I barely started a few months ago, and have failed many, many times. I actually made the opposite mistake of OP. I thought OMGUSD was printing bull flags. So I bought. When they broke down, I thought it was bad luck. So I did it, over and over. You can't rely on just flags for TA. From those mistakes I've probably lost about... 8% of my portfolio. I also made some bold assumptions about the short-term momentum of BATUSD. Ah... good times.
But I follow a lot of crypto TA people on YouTube, and I've started to do my own (conservative) TA to protect my Linkies. Nothing more, nothing less, I suppose.
>>23899387
Typically you buy when the stochastic RSI crosses upwards from out of oversold (20->greater than 20), no? Historically, it seems like this has been a great place to accumulate LINK.
I'll tell you right now, I just bought in a huge lump at $12.52, after grabbing profits from up at $12.72. If it drops to $12.20, I'll sell, because $12.35 has been guarded quite well by the bulls. (AKA I have a stop loss at $12.20)
If it goes upward from here, my minimum bullish price target was $14.50ish. 2 reasons for this, there's previous support probably turned resistance now. I figured bulls would wick up there for sure, if we started to push upward soon. Second, if this move does come soon, it also would meet up with my diagonal confluence lines, and would basically meet double-resistance. If anything, if it does pop above these two meeting lines, the bulls would probably need reassurance and it would test 14.50 from above anyways, giving me a minimal profit loss in that case.
Again, I'm just a noob but that's my hot take.