NEO, formerly antshares, is starting to break out so now is the time to buy. Neo which is known as the Ethereum of China is about to make a big move and now is the time to get in.
Well spotted man, text book play, much more to come, interested in your bigger NEOBTC picture.
fraserbyrne
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Nailed it!
Any thoughts on POWR?
kash27
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What is your target?
coltsrule7
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@kash27, As you an see on the chart indicated by the pink line. 0.00387 is my first target. I would take some profits there and let the rest ride.
MoneyRulus
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Hello, very interesting, I just noticed the same thing, only that I did it identifying a channel trend in a span of 4 hours, and at the same time using simple moving averages (one of 5 and another of 30), and the average of 5 has crossed to the average of 30, and the moving average of 10 is almost surpassing it ... what do you think of my analysis? Your opinion would be helpful.
coltsrule7
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@MoneyRulus, Moving average crossovers are ok indicators but not very reliable. I prefer using TA chart pattern breakouts they are much more reliable. Also 5 period moving average seems very short term. I prefer to use longer term moving averages like the 50, 100, and 200 to get a better overall and longer term view of price action. But I wouldn't say that you are doing anything wrong. In TA there are many different paths to arrive at the same conclusions. Hope this helps!
MoneyRulus
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@coltsrule7, Hi, thanks for your response, i have a very important question, what price do you think that NEO will have at the finish of the year, obviously vs btc, because i opened a position stupidiply (i was very excited for it topic in that moment) at 0.00328btc and now i don´t know what do?, do you recomend me hold the coins to the end of the year or sell it now and recuperate my inversion and a very little profit?
PD: Now i am learning about TA and i believe that i am getting better every day, but i understand that the practice makes a master, so you know...i am practicing very much to get better day by day.
coltsrule7
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@MoneyRulus, Honestly I couldn't say where it will be in 2 weeks. If it keeps its trend (which seems decently strong) It could keep going. But currently it must break through the 50 day moving average which has been major resistance for it before. If you have more than 1 Neo then I would suggest withdrawing and putting them in the neon wallet so you can earn some gas. But if you only care about trading and not about holding coins for long term then that's up to you. I like to buy the coins I like and withdraw them so I am not tempted to trade them. Then I have a separate account which I use for trading.
I would recommend reading Charting and Technical Analysis by Fred McAllen. Its a very good book to learn the basics on TA.
MoneyRulus
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@coltsrule7, Oh thanks man, you are very friendly, i will read that book, now i am reading technical analysis of the financial markets by jonh murphy, is a great book, i am in love with the TA, regards.