$Steem/BTC This chart For trading TODAY better than all fancy technical analysis in the world

Sunday July 31, 2016 6:30 AM

There's a lot of useful technical analysis out there, but not for $Steem today. This is a very rare situation where the patterns say screw 99% of it and just focus on a few keys.

As the daily chart above shows, deciding how to make the highest probability for trade Steem today doesn't get any easier.

If we wind up green today above yesterday's high, we hold or find an entry to buy if we're not currently holding .

If we close red today - odds are high we will get stopped out so we could reduce position and hold rest with stop loss as noted, and we would not buy if we were not already holding.

Determining upside targets and scaling in and out of positions after today is a bit more involved, so tomorrow we'll get back to more conventional technical and pattern analysis.

But for today - this is all I need to know.

CURRENT POSITIONS

Steem 80% LONG

ETC 20% LONG

BTC 25% LONG (for steem and etc trades, not looking to hold)

for prior trades and posts see blog at https://cryptopatterns.wordpress.com/
for REAL TIME trades and updates follow on twitter https://twitter.com/Cryptopatterns

NOTE: NOTHING IN MY POSTS IS INTENDED TO BE TRADING ADVICE. Please do not base your trades on any information presented in the materials on this blog as it is for information and entertainment purposes only. You are 100% responsible for your own trading decisions.