Still absorbing the amount of information in all of these videos and getting the strategy down. Quick Question:
When the coin is in say a downward swing and the base is set, you have your safe zone and you execute the trade. The trick here I see is to watch the bounce very closely right after your trade has been executed. Many times I see a pattern of solid identical bases trending downward, you set your buy when there is an indication of volume coming in as well on the buy back and you move with it. Makes sense. But, lets say the base has a tiny bounce up and then reverses on you? Meaning you had to be watching that bounce for at least a few minutes to make sure it does not and continues up.
With that you really need to watch after every buy, for at least the first couple of minutes to make sure it does not go the wrong way while you wait. If you walk away and hope based on prior movement from the past hour or more you could set yourself up for a reverse movement that goes against you.
I suppose you could set (2) alerts after every trade. One for any movement below your price trade, one for how high its going. To me that would make sense on safely monitoring the directions.
Does that make sense? I am still new but hopefully starting to grab the idea here. Thanks guys!
RE: Why I recomend 1hour candle charts, if your a new trader..