How to trade chart patterns…
In our last blog post, we showed how to find trades using altFINS’ chart patterns and trend ratings.
We identified Solana (SOL) and Cardano (ADA) as a couple of large cap altcoins that were in a downtrend, had fading momentum and were trading in a Channel Down pattern.
So far, these Sell trade setups are delivering (down ~ 10%).
We teach this in our Trading Education program (10 webinars covering 7 trading strategies and risk management).
Today’s video provides a quick market update, what would make us more bullish and how to trade chart patterns with high hit rates.
If you’re into trading chart patterns, you probably already know that Inverse Head and Shoulders (Bullish) and Head and Shoulders (Bearish) are among patterns with the highest hit rates!
These are also some of the most rare patterns.
altFINS can save you a ton of time. You can find these and others in our Patterns section as well as Signals Summary section (see table below).
Here’s today’s snapshot (1H time interval):
Keep in mind that certain patterns have a higher historical success rate. Here are our stats:
!Did you know that altFINS has begun publishing research reports that focus on fundamental drivers behind specific altcoins?Last week, we released our latest research report on a recently launched DeFi project that already has impressive adoption, rapidly growing volumes and is backed by top notch venture capital funds.
Our first pick, LooksRare (LOOKS) gained 80% at its peak, after our report was published on Jan 12th. And that was during a big market correction…
We find gems that could increase 5–10x over the next 1–2 years.
The reports are available to Premium Subscribers only.
We focus on their tokenomics, competitive positioning, value proposition, total addressable market (TAM), management team and comparable valuation.
On Jan 12th, we published a report on LooksRare (LOOKS), which had launched a stunning “vampire attack” on OpenSea, the leading NFT marketplace valued at $13.3B.
Recently we released an update on LOOKS — there’s a critical event coming up on Feb 9th that could create some volatility and a buying opportunity.
These reports are completely unbiased analyses from altFINS’ team, lead by our CEO (LinkedIn). During his Wall Street career, Mr. Fetyko was ranked among top analysts for his coverage of Internet:
Ranked №2 by StarMine Analyst Awards in 2010 for ratings performance in Internet Software & Services industryRanked №4 and №2 by The Wall Street Journal’s “Best of the Street” Analyst Survey in Advertising and Publishing sector in 2008 and 2007, respectively.
Written byRichard Fetyko