This was such a great explaination and makes so much sense. I was literally thinking about this on several charts and couldn't explain what I thought was going on... but you can literally see the support weakening before your eyes. You nailed it. Thank you.
How many trades on average can a trader expect per day/week? I know this varies greatly based on many factors... greatly. However, with the types of deep bases that you are perfect at trading off of, it seems that these types of trades don't happen all that often. I'm continually marking charts daily, but very few bases crack regulary. Perhaps I need to get into HitBTC or Liqui? I'm on Poloniex, Bittrex, and Bitfinex now. Do you have any thoughts on this topic?
I'm just trying to figure out the best way to allocate my funds for position trading vs. day trading vs. long-term investments (e.g. Bitcoin) and what reasonable expectations are in terms of gains (not necessarily the percentage of gains, but number of times you can gain via a base cracking). My goals are to account build, but ALSO make large profits through larger swings.
Would love your thoughts on this and THANKS AGAIN, really love your stuff.
If you set alerts below bases, on all the coins you like, then you will find your alerts go off, quite often. Just set those alerts at places that you would buy, not at base cracks, but lower.. and then you can also use the scanners to take small account building trades for fun, with small amounts of money, just to keep yourself active all day.. That helps with patience while you wait for the bigger position trades.