I am in the middle of reading the book ‘ Trading in the zone’ by Mark Douglas and I strongly recommend it reading when you are serious about trading.
He teaches u that trading is extremely psychology attached. My tip; Go read. you can find it for free on the internet at a pdf drive.
Now coming back to Dock/Usdt.
I always recommend when starting ‘ reading’ a chart is to make a helicopter view before getting in to details.
1. What is your setup
2. What is your point of focus
3. Start reading the week chart and then the to end of with the 4 hour chart (my strategy)
4. Scroll of 5 times a chart so the timeframe gets wider to get a better look at the bigger picture.
5. Where are the resistance and support levels?
6. Do you recognize any patterns?
7. How about the volume?
8. How about the bars themselves?
9. How often do levels get tested?
10. Do you see any bull or bear traps?
These are all questions I ask myself while opening a chart.
For me is about confirming one signal with another to make it one ‘thrustworty’ signal. Of course there is a good possibility that the asset price moves in to another direction. That’s ok. It’s about your sample seize that matters not that particular trade!
For Me Dock/USDT is one I keep my eye on. The price is around and when it ‘ breaks’ under and it comes in the zone I start buying. I put my exit point beneath the ANCHOR point of the most recent High to take my profit.
My strategy is to make a ‘ Quick’ 30% profit. This is what a Trader/Hustler does.
So which side do you pick?
Are you a Hustler or a Investor?