I made my first gains today on a sale of my position in XLM (40% gain!!!). However, I’m very bullish on Stellar and want to re-enter my position. How do you guys determine a good point to buy back in? The trend has finally reversed and it’s on the climb, but it’s still 13% away from its last high in April of this year. Is there some kind of indicator that you use (ie Fibinachi, etc) to determine where to enter again? Thanks in advance for your input.
This is difficult to answer as it is not pure technical analysis of candles that suggest when to buy or sell.
Maybe keep an eye on my daily thread.
@Amp112506 Congratulations those are some great gains. Here is a chart I put together for you, just to give you some perspective. Every decision you make regarding investing or trading should be based on several factors, inputs, as well as personal risk tolerance and market sentiment.
Hope you can use this as a guide in helping you make your decision. Many traders look for the ‘Golden Ratio’ of .618 when waiting for a pullback or correction. Hope it helps you.
Wow @Hexdek16, this was incredibly helpful. I’ll add that indicator to my chart and test that option out. Thanks so much!
Thanks for the question! I made this because what we want to do is help each other in currencies, and the bitcoin pub is a great place to do it!