Quick trade on YFI/USDT: inverted Head and Shoulders AHEAD

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Long time since I posted my last call on any trading set-up.
Obviously, since then, not so many chances have appeared because BITCOIN has been moving hesitant but, in my opinion, I think most of the altcoins have touched the bottom lately and perhaps it is a good moment to set some longs on them.
Actually, I am following what the pair YFI/USDT is doing on the 1h-chart which is building a nice inverted Head and Shoulders pattern.

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This powerful pattern is preceded by a not less powerful Bullish divergence with the RSI, do you see? when the price does lower lows but not RSI that means a reversal is likely to happen and that is what is exactly occurring since yesterday.

I set my entry close to the Neckline of this pattern (15550 USD) and the target would be 17550 USD as the projected by the same:

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Let's have fun!


I'm sharing only my quick trading Ideas here, not financial advice at all ;-)

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


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5 comments
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Hey Eddie...just how profitable would you say trading in crypto has been for you? I've been more or less a passive member of the crypto community but am trying to look at things from an investment perspective these days

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(Edited)

I have never quantified it, difficult to say. I trade a lot despite the last two weeks have gone a little bit quieter for me. This month I managed to get only 42% of accumulative profit.

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Trading is not an easy game at all, you need a lot of time for learning and draw an efficient trading plan.
My advice is , if you want to start trading, read everything you can about candlestick patterns, Elliot Waves theory, support/resistance theory and patterns recognition, spend some weeks/months doing simulations first.

Trading is not investing but speculating instead, but it could provide a lot of satisfaction once the plan you draft works.

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