The best cryptocurrency buying strategy is designed to enable traders earn more with lesser capital; a feature every crypto trader wants to posses.
We have been able to craft our trading strategy in line with quantifiable specifications that can be studied based on historical digital currency price data that can be used for predicting future price action on any crypto chart.
Furthermore, this strategy establishes a kind of support and resistance moving average lines that might tally with the market thus providing us with key entry points.
You can deploy this strategy on any timeframe and digital coin of your choice.
Now considering the correctness of our trade setups, you can relax, sit back and start trading a new crypto trend during its early stages, which implies that you’ll be in for a long profit ride.
Trade Setup
MT4 Indicators: imacol.ex4 (Default Setting), Moving Average.ex4 (Parameters Modified; Period=32, Style=Magenta), impulse-macd.ex4 (Default Setting)
Suitable for: Scalping, day trading, swing trading, investing
Trading Time: 24/7, Around the Clock
Cryptocurrency: Any (Bitcoin and Altcoins)
Timeframes: Any
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Buy Trade Example: XMR/USD (Monero / US Dollar), D1 Chart
Fig. 1.0
Strategy Rules
Buy Signal
Open a buy trade if the following trading conditions appear on the crypto chart:
- If the magenta line of the 32 SMA indicator line crosses below the deep sky blue line section of the imacol currency indicator as shown on Fig. 1.0, the general Monero market sentiment is said to be bullish, thus a trigger to go long on the selected cryptocurrency.
- If the steel blue histograms of the impulse-macd indicator break and stay above the 0.00 horizontal level as seen on Fig 1.0, the Monero price is said to be pressured higher i.e. a signal to go long on the designated cryptocurrency.
Suggested Stop Loss for Buy Trade: Place stop loss below support.
Suggested Exit Strategy/Take Profit for Buy Trade
Exit the buy trade if the following trading conditions appear on the chart:
- If the magenta 32 SMA Metatrader 4 indicator line intersects the imacol indicator line while a bullish trend is running (see Fig. 1.0), it is a signal to exit or take profit at once.
- If the impulse-macd indicator steel blue histogram pops up below the 0.00 horizontal level while a bullish trend is running, bullish Monero sentiment is said to be weaning, therefore an exit or take profit stance is recommended.
Sell Signal
Open a sell trade if the following trading conditions appear on the crypto chart:
- If the magenta line of the 32 SMA indicator line crosses above the red line section of the imacol indicator as illustrated on Fig. 1.1, the overall Monero market sentiment is said to be bearish, thus a trigger to go short on the selected cryptocurrency.
- If the steel blue histograms of the impulse-macd indicator break and stay below the 0.00 horizontal level (refer to Fig. 1.1), the Monero price is said to be dragged lower i.e. a signal to go short on the stipulated cryptocurrency.
Suggested Stop Loss for Sell Trade: Place stop loss above resistance.
Suggested Exit Strategy/Take Profit for Sell Trade
Exit the sell trade if the following trading conditions appear on the chart:
- If while a bearish trend is running, the magenta 32 SMA indicator line intersects the imacol indicator line (checkout Fig. 1.1), it is a signal to exit or take profit immediately.
- If the impulse-macd indicator steel blue histogram pops up above the 0.00 horizontal level while a bearish trend is ongoing, bearish Monero sentiment is said to be halting, therefore an exit or take profit stance is advised.
Sell Trade Example: XMR/USD (Monero / US Dollar), D1 Chart
Fig. 1.1
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About The Cryptocurrency Technical Indicators Used
The imacol indicator tracks trend by yielding less noise on larger timeframes.
The 32 SMA (Simple Moving Average) is a technical analysis indicator that smooths out digital currency price data by constantly creating an updated average price.
The impulse-macd indicator is a reactive and modified MACD tool deployed to spot strong trends and possible reversals on crypto charts.
Easy Installation
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