₦airaland Forum

Valwezzy:
It’s already dropping as you said.

How low do you think it can get? $40? $50? — so I can know where to set a buy order, please.

Timeframe matters a lot on trade signal. Most of my trade predictions are based on very lower timeframes, so they are based on what I feel might happen in an hour time or two max.

I already switched my bias to long from initial short based on the change in the orderflow on the lower timeframe I'm watching. Sellers have stopped selling, so I expected buyers to take over. It might also change but for now, that's what I'm seeing.

seanwilliam:
You might be right but this trump is here to prove everyone wrong ni se,
So as not to have hbp, na to leave am totally..
E go defy any strategy ni se

Sean see this, these are the micro stop and reverse I was talking to you about.

seanwilliam:
You might be right but this trump is here to prove everyone wrong ni se,
So as not to have hbp, na to leave am totally..
E go defy any strategy ni se

It's a short term basis trade. As you can see it's a 5mins timeframe entry.

Even if it will baloon to the moon, that doesn't mean there won't be lot of retracements in between don't you think? That's where people like me hide and take advantage of those little stop and reverse entries.

As this is a pretty new coin, I wouldn't near it. But, if I were to near it. This is how I would have shorted it twice. Though this is in hindsight, but you can see the buying volume tapering off at the top, this is showing lack of interest from buyers, add to the fact that it was a swing high where majority would love to short from.

That's what you get whenever buying volume dies off at the top of a resistance zone, anticipate a drop in price.

LincolnOnyeabor:
Alright boss.

One more question.
Is it also applicable to Forex?? i.e. does it work on Forex pairs??

I'm not a crypto trader man apart from BtcUsd, I trade majorly forex. But I no longer trade forex pairs, only Gold and Indices because of currency pairs sluggishness.

So yes, it works on forex too.

LincolnOnyeabor:
Is this volume on trading view by default or how do I add it??

It's called "volume delta" on trading view.

iLegendd:
If it works consistently, it's right. One of the people I recently watched 10 of his videos does the same. He turned $580 to millions of Dollars doing day trading. He's focused on volume, minimalist, and news.
https://www.youtube.com/watch?v=HYoQYCBW4sw?si=zZU-4wSe7Nwj8sQs

Day trading is way profitable than swinging imho. Reason why I can't go back to swinging ever again, I would rather take my loss in 10mins instead of waiting for weeks before taking same loss. It's even better if you win, winning 2weeks target under 30mins is madding.
I will check him out, it's weekend already. A lovely way to chill and spend the weekend watching from those that already did what you about doing. Thanks for this.

iLegendd:
You need to learn it o. Your trading exposes your personality. You need to add patience to your personality.

I didn't even know it was posted. Most times I just zoom past posts.

When you are aware of your own weakness, it becomes strength. Of course I'm patient in my own little way, it takes a lot of patience to wait for right time of the day, opportunity and your setup before entering any trade.

And I've been trading profitably for some years now, without some iota of patience, that wouldn't have been possible. I'm just a day trader by nature than a position trader.

geedot:
Price always seek for where massive liquidities are, it's the target. For those that believe in strong supports and resistances because these zones have been confirmed multiple times, maybe you should have a rethink, these zones are always the target because of the massive of stop orders resting underneath and above them.

We'll see how this plays out in the next few days.

This was before and after. Price has taken out the lows as predicted and currently going up as predicted again.

iLegendd:
You're right. When I started trading years ago, I did the same and with zero indicators. I won a lot, lost a lot and the experience is what helped me in building patience and focusing on the 4 year cycle and opportunistic trades.

I love watching videos on YouTube and comedy on Tiktok, so I no longer have the time to be on chart regularly. I have a voice alert that tells me the situation of the market and price of every coin that is dumping or pumping and the percentage.

So, with that, I'm actually aware of the situation report without opening my chart.

Four year cycle? I couldn't even swing a trade comfortably for 1-2weeks without me checking the chart 24/7.

I called this Bitcoin downward move and then the upward move here about two weeks ago, but I didn't even take it because of the duration it would take. I hate seeing green turn red and green again. That back and forth stuff turns me off.

Valwezzy:
You're shorting?

I trade a very small timeframe, check the 1-5minute chart from that time I made that post and you'd see that micro short move that happened immediately afterwards. I was stopped at break even though as it didn't go down low as I had anticipated.

iLegendd:
I have placed a short at 103.3k long time ago. I don't know if it has hit and my long position of 89k will be sold if it gets there too. I know it will or at 80% sure it will.

I don't have that patience like you to trade larger timeframes. I wouldn't stop checking the chart every 1hr to see how the trade is playing out, I just had to accept that fact about myself and move to lower timeframe that best suits my personality.

Bitcoin on a down mission, see the buying volume exhaustion on a wider view? They are going for that low and most likely be taken out. I'm short Bitcoin already. Image not loading.

Tflex01:
👍 😂 😂 😂

Just that market has a way of humbling you at some point and resetting you back to format.

If you win 7-9 trades out of 10, one loss trade won't humble you, would it? Add to the fact that you even make more on a winning trade than you do on a losing trade. Would that small loss humble you? Well, if it was me, it wouldn't humble me.

Bitcoin just gave a perfect example of what I explained above. I missed out on this trade.
You can see the selling volume decreasing, but price kept dropping and immediately they got to a fresh support zone, the buyers consumed the remnant sell orders and pushed price up aggressively.

Why was it so, the selling was exhausted and no one is really interested in selling based on the volume activity, buyers are waiting at a swing low to buy like they are taught. What happens next, boom, easy trade.

But what if price is coming with an aggressive selling volume? It will blow through that support like breeze. That's the reason why support and resistance trading is like a 50:50 method because it works sometimes and doesn't work sometimes.

But knowing why it works and fails will help you with the knowledge of which one to engage in and which one to stay out of.

Have a nice weekend traders.

armadeo:
What time frame are you using ?

It depends, sometimes 15mins and sometimes 5mins. But it doesn't really matter what timeframe, as they are all governed by the same logic.

Before I was done typing that long epistle, price had already whooshed to the downside but unfortunately missed my take profit before stopping me out for little profit. That's the market logic, and once mastered, you'd feel like a god and won't want to listen to anyone again.

Second image modified: It later played out

geedot:
Wtf man. That was just my own way of expressing my view and belief of the market behavior after another easy trade as usual.

Another one, not a crypto pair so the name has been cropped out. The outcome is the same and it happens across all timeframes, buyers push price up until everyone that wanted to be long are already in, price will reverse to look for more buyers, as it starts reversing, some sellers would see this and start selling, then price start dipping low, those that were initially long might start adding to their position, and new buyers that saw the discounted price as good opportunity to buy after initially missing out, and if the selling volume is minute compared to the buying volume, the buyers will consume all their orders and price will continue going up.

So what do I do most time, I just wait and anticipate exhaustion from the dominant side of the market, wait around area where majority are told to wait for price reversals which is the support and resistance, supply and demand area.

I'm constantly checking the volume and what price is doing with it. For example, if volume is reducing on the buy side, price should stop going up. But if price keeps ticking up instead, that's an anomaly that something is not right with all those bullish move.

I won't short there, instead wait at the next close resistance zone, before shorting because that's where massive liquidity would be resting.

DoctorShomo:
Ilegendd's disciples should pay special attention to this

Wtf man. That was just my own way of expressing my view and belief of the market behavior after another easy trade as usual.

See trading as an art. Look at your chart as an artist and not as a mathematician. No amount of calculations would predict to you what people would do next, keep it simple and that might just be the breakthrough you need.

When you look at chart, see people, see area where people all agreed at that point in time that price is too low or high. See the buying and selling power so as to predict the future price. Keep it simple and simple till hindsight becomes foresight.

The goal is to become a good and consistently profitable trader, and not a chart architect.

Ezechi18:
Please I need someone who will teach me the crypto currency stuff
Am begging please
Or indicate if you want to help me learn it
09032504924

If anyone volunteers to teach you, just know he/she is probably not making money from it yet consistently. It's a long journey ahead. Just start from Youtube and spend the rest of the year learning.

Trading is not a place you jump in with half baked education, you won't even get half baked result but instead a far catastrophic one, with wasted years and empty bank account to back it up, that you'd look back and either curse the day you heard about it or be joyful you did.

In a nutshell, this is the most profitable business in this world, so be warned, it's not an easy journey. Adios Amigos.

Tflex01:
I just have to come and read some of your last week posts about market outlook again. The bolded statement was underrated at first, omo, you know stuff!

Well, well, if a whole ForbesDotCom could reach the same conclusion as I did, then that's something of joy, and pride.

geedot:
Price always seek for where massive liquidities are, it's the target. For those that believe in strong supports and resistances because these zones have been confirmed multiple times, maybe you should have a rethink, these zones are always the target because of the massive of stop orders resting underneath and above them.

We'll see how this plays out in the next few days.

I don't know about the rest, but BTC won't go up unless some weak holders are flushed out first, how low will it dip before rising, I have no idea.
Before and After images as usual.

Valwezzy:
Does it work on all coins or strictly BTC and major Alts?

It works on all of them, just that those alt coins doesn't have enough trading volume, so they spike a lot due to low traded volume. And these spikes might take you out before going your way, and slippages because price might jump your stop order and stop you out at even ×2 of your initial loss.

You know for price to move up, all the sell orders must be consumed by the buyers, then price ticks up to the next price etc. But with low traded volume coins like alts, there might not be any sell order at the next price zone, so price will spike higher up till it finds sellers to fill the excess buy orders.

An example was the Luno crash, when the big sharks dumped on buyers, the selling volume
was so huge that price kept tanking down to find buyers, but couldn't find enough buyers to match the surplus sell orders, so it kept dipping, even those that were initially long, wanted to get out too and were all hitting sell to close their buys, there was now multitude of sells hitting the market so hard all adding to the dip, but there was no one to buy from them till it bottomed.

With coins like Bitcoin, Solana, Ethereum, even Xrp, that all have huge traded volume, almost all the price levels are filled with pending orders, so the spikes are very minimal. Hope you understand what causes spikes behind the hood now?.

Sunnybabe:
boss, I want to learn 🙇🏽‍♂️

There's nothing new to learn. Just know what normal orderflow looks like, so when you notice something different, that's a cue that price is about to reverse the other way.

Taystee1:
This is SMC method of trading...

I guess smart money concept? Why do you feel so? I've never watched a single video or read an ebook belonging to that school of thought.

I don't really care who you are or your method of trading, if your method catches my fancy, i will definitely add a thing or two from it to my toolkit.

harry2sexy:
What volume indicator do you recommend, please

I can only show you the truth, I can't lead you there. You will have to work out which one works best for you. There are so many of them on TV. But the one I personally make use of is called "Volume Delta" on tradingview.

Play around various of them till you find one you can easily interpret.

This trade is a good example showcasing the power of adding volume to one's trading. Like I always say that volume preceeds price movement if by some milliseconds at least.

Price is the last thing that should be looked at, firstly, time of the day, week or month.
Secondly, the orderflow and volume that the time brings with it.
And lastly, price.

The same zone, price tested it twice, one held the price while the second was blasted through.

What was the difference? Volume.
First one had the volume dying off as price gets closer to the zone, while the second had the volume increasing as price gets there. It would take a strong selling to overcome such a huge buying delta. Whereas the first one buying delta was dying off already, all it takes for a drop is little selling pressure and price would crack.

This happens everyday across all timeframes.

The pink arrow was the first one that held price while the purple arrow was the one that blasted through the "resistance".

Can you spot the difference in the volume delta?

Imagine not seeing the volume beneath price, a blind supply and demand trader would definitely short these two, he'd win the first one, and lose the second, then he/she begins to wonder why it didn't work out the second time when they both had almost identical price actions.

With volume, it increases your chances of knowing which zone would hold and which one might fail. This is an edge, you eradicate losing trades and only engage those that are likely to hold. From 50-55% strike rate support and resistance trading gives, you already jacked it up to somewhere around 80%.

Day trading doesn't get simpler than that.

geedot:
An outlook on Solana/Bitcoin, prior to price getting to the Asian time high, volume was pretty normal, then price hits where support and resistance traders are taught to await reversal, the majority of those buying feared this, then stopped buying or maybe taking profits, or whatever it is they are doing, the one thing certain is they are not interested to push price past this zone at this point in time.

Imagine this, buyers are not interested in buying, sellers are always at previous swing highs waiting to sell. It doesn't take a genius level brain to know there's a very high chance of price reversing from here.

Breaking even once I see a strong drop and let the rest flow, or close manually when I see a contradicting signal. It's a 2.71×R trade by the way.

Went down 2.1×R before reversal back to the zone.

Before and after as usual.

And few moments later

An outlook on Solana/Bitcoin, prior to price getting to the Asian time high, volume was pretty normal, then price hits where support and resistance traders are taught to await reversal, the majority of those buying feared this, then stopped buying or maybe taking profits, or whatever it is they are doing, the one thing certain is they are not interested to push price past this zone at this point in time.

Imagine this, buyers are not interested in buying, sellers are always at previous swing highs waiting to sell. It doesn't take a genius level brain to know there's a very high chance of price reversing from here.

Breaking even once I see a strong drop and let the rest flow, or close manually when I see a contradicting signal. It's a 2.71×R trade by the way.

What I find amusing the most on this thread, everywhere on nairaland and even Nigeria at large is the hatred towards those that just seem better at what they do.

I remembered when Graceglory was attacked here few months ago, even Ilegend was not here for few days and one guy talked about how much he hated stuffs he posted and multitude of people liked the post.

The toxicity is crazy. My current mentor has 98%-99% win rate. He just doesnt want to claim to be 100% right. Trading is not random and can be mastered. I've showed it here with tight stoplosses.

I'm not at that level, I don't think I will ever get to that level of 99% win rate but I'm fine this way. I win most of my trades week in week out. I was just trying to make one or two people better and see that trading isn't rocket science and can be mastered just like every craft.

Nigerians can do better, when you see someone better than you, admit and learn from them and not hate!