For those that fancy trading a bit of XPY


#1

…here is your trade window on Bittrex based on the last 24 hours and the 30 minutes chart.

Entry points around 0.01605 and 0.01651
Exit points around 0.017 and 0.01758

This chart is what I call “trading by the book”.
The 30 minute candles basically bounce off the resistance lines (red and green) in perfect harmony and have been reliable for the last 24 hours. Such basic trading :slight_smile:

Have fun.


#2

Whats the chocolate market like? I am hungry


#4

Snickers -5%

I forgot to add above, keep an eye on the order books and the ~300 XPY walls on the bid side and the 1,490 XPY sell wall at 0.0177. Those walls move the market.

You find a good article about technical and fundamental analysis here:
http://forex-dragons.com/technical-analysis/
http://forex-dragons.com/fundamental-analysis/

The site hasn’t been maintained to well but the guy who own it is a buddy of mine and he usually also publishes his Forex “trading signals” every morning. Check out some of those for comparison since he does a good job in explaining.

Also check out the http://www.intertrader.com website. They have a very good knowledge base and a library of very good webinar recordings and definetly http://www.investopedia.com which is basically the wikipedia of trading.

Over the last year I’ve come to the believe though that certain indicators such as Fibonacci (the hardcore traders are gonna slaughter me for saying this) are rather “to technical” for altcoin trading.

I believe that altcoins can actually be traded with much simpler charting tools and indicators than BTC or Forex. Imho it’s being over complicated by many since most markets trade clear patterns either caused by the trading bots or often basic trading 101.


#6

It’s a lot to suck in. Used to blow my head but like I said I think on the altcoin market you can actually get along with rather basic trading strategies (when day-trading).


#7

I know you and I are on the same quest for knowledge about trading. I found this site on forex trading. it has a “school” LordofTheInternet from HT turned me onto it a while ago and I just remembered I had book marked it. He told me that will give me the basics and I would have a better understanding. I am sure some of the knowledge would transition to crypto as far as reading graphs and understanding market behavior. Let me know if you find anything interesting.


#8

You know burgers are better by candle light


#10

I think that trading might become a little bit harder I have picked up what the pay base larger order is doing and it will drive up the market. My prediction is 0.021 by tommorow


#12

Market going up would be a good thing. A lot of coins were bought around 0.011. From there the market went up to about 0.016-0.017 and moved into a sideways motion trading for a good days within the trading window I had charted in the OP.

So yeah, for all I care XPY can go up to whatever from here, much love.

Don’t get to excited though guys. Of we compare the chart above with today there has been very little movement. The previous resistance line around 0.01758 has been cracked and XPY might be trading for 0.018 on Bittrex right now but that’s just a change of less 0.005 BTC above the previous trading window.


(top arrow is the new resistance, the next two arrows are from yesterday)

As you can see the market is already entering a sideways trend again so don’t get to excited about it unless a “clear” trend change emerges. I can see a correction coming up down to 0.0173~

If we zoom out of the 30 minute chart it becomes clearer that XPY still has a good way to go to rise above 0.020.


#13

Whooo. I set an order early this morning for a 100 XPY sell at .0185 on Cryptsy and it executed at some point.


#14

I see 4 candles on the chart above that would confirm your claim :stuck_out_tongue:


#15

so is going to drop or go higher?


#16

I can’t say I’m just a day-trader trading market trends. Entering a market long-term or overnight isn’t my thing. I look for trading patterns in the current market of the coins to narrow down trading windows and just trade the margins with “a lot” of smaller orders throughout the day.

However, if you look at the 2nd image above you’ll find that XPY has really been moving sideways in a rather narrow channel since the 13th so it could breakout or dive any time.


#17

I should just send you me coins to play for me. lol


#18

Please don’t, I wouldn’t want to have to justify any loss. Trading can go both ways and crypto is a b… :slight_smile:

Going up, definitely up but for how long and how far?


#19

An important aspect in trading is a good entry point. Specially in a very active market entering at the right time can be very profitable…Bittrex.


#20

Just bought about 700 XPY off cryptsy at under .0085


#21

I bought for 1 cent


#22

Very good entry price, same here and I’m still buying, Deposits taking a while. Market will recover in the next 1-2 days to 0.019 time to HODL some XPY :slight_smile:


#23

Hope you got a million of them :slight_smile:


#24

I only had time to get 0.80BTC confirmed so got a nice bunch but not enough to retire on