TraderCobb

Good day everybody it is Trader Cobb here on the 26th of October it’s going to go through and have a look at one of the coins that I’m quite interested in in at the moment and before I do actually I’m not sure if you’re aware I know I haven’t actually got a Facebook page I’m getting on shortly but I’m actually on Twitter if you want to follow me it’s just at trader Cobb pretty straightforward trad er Co BB and you got me anyhow AdEX is a coin that I’ve heard many talking about for a wee while as a coin for the future which is wonderful right yep cool what’s it done something ran long it’s obviously had pump here don’t know what happened now I’m not really that interested in the fundamentals of this at this stage I am merely looking at the technical as that’s what I am good at what I have noticed however is the price at which we’ve fallen to – and sort of found some support and then sort of hells if I just draw it in so it’s kind of around this little here I know it’s not exact but pretty pretty close right so we can see we’ve seen test 1 test 2 test 3 test 4 test 5 it’s been sport Sport sport Sport sport that’s a big buying coming in here pulling back and that’s just a bit of profit taking in my eyes potentially if it’s to play out so what am I doing here um something else to look up as price is making lower low here lower low here lower low here look at the MACD here ok lower low higher low higher low it’s called divergence okay it’s called divergence now I know a lot of people put all these sort of weird and wonderful ideas into the RSI for some strange reason it seems to be the magic egg when it comes to crypto ball guess what I don’t give two hoots about RSI the whole overbought oversold thing I don’t care here’s the thing with MACD you might look at this and go oh look at that that’s overbought over board is good for me because I’m a trend trader ok I cut the crap here’s a fact I follow trends if MACD and RSI are over board that generally means it’s a wrong trend although you indicators for is for a reason to stay out of a trade really I want to see that the indicators are convergent convergent means that as price makes higher highs they make higher highs too so is the 4-hour chart on addicts converging here’s a higher high is the MACD doing the same yes it certainly is tick that box I have a higher low higher high and potentially what I’m seeing here as a higher low add into it this as well just get that through an extended three which is where we are what we’ve pulled back to have a look at this well what do you know support here resistance here resistance here support here resistance here resistance here breaks up pulls back and what’s it doing it’s holding support at that level this is in true it introducing you to a laid approach to technical analysis because technical analysis on its own is absolutely nothing it needs to be combined together to create a trading strategy and I’ve got some stuff coming out shortly that I’ll introduce you to eventually but are trying to help people understand this and cut through a lot of the clutter that’s in the market of crypto at the moment what else have we got well drawing in the fib correctly from the low to the high 50% coinciding smack-bang with what do you know that old sport and resistance level around a round number of point zero zero zero one seven zero zero okay perfect remember I also talked about this moving average zone pulling back into what I recognized as the buy zone so we’ve got a multitude of reasons for price if it’s to set up to move higher so let me get all this out of the way because we’ve built the picture I want to get it so it’s nice and clear what am I actually waiting for guys I want to see a small green candle that is all a small green candle well I see a small green candle here’s what I’m gonna do let’s pretend this is smaller green it’s not and this is not the trading signal but I want to show you what I’m gonna do let’s pretend it’s small and green I’m gonna trade it as it breaks one Satoshi above the height alright I’m gonna have a stop underneath the low here so my stop is protected entry will be as it breaks out above that bullish candle if the next kalos bullish may not be the next maybe a couple more I will continue to keep an eye on where is my target gonna be oh look if you’re trading it I’d probably be looking for something up around here there’s all high something through here why well if we come back again to the good old support and resistance type stuff have a look here okay we found some resistance way way back here resistance there a little bit through here not so much resistance here and also it’s the old highs that might be one target another target would definitely be up around this to five because it’s very strong support in the past and potentially could provide being resistance just depends how you want to play it out first target up around here alright jumping out onto the lower timeframes let’s have a quick squeeze see what it looks like look at that for a consolidation here’s the thing if it breaks down through here I’d actually short it if I heard if I the potential to quite pretend so quite likely I don’t have the potential to short it so if this support doesn’t hold if it does break down the trade will be canceled and I will not care or look for another one I’ll wait for another one I will be patient alright guys that is the video for today it is a wonderful little breakdown I wanted to give you an insight into how my mind ticks how my strategies work as I say there is some exciting things that I will announce coming up but for now AdEx etting a very close eye on I’ve watched a video a few times if you want to get a couple of free little tips on technical analysis and bring it together into the form of a trading strategy follow me on twitter at trader Cobb take it easy bye for now.

By Trader Cobb -

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