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Every time you don’t take profits, you are giving it to someone else. And that someone is becoming wealthier than you at fast pace!
Profits, Capital preservation, Risk management & Capital rotation will always make money faster and efficiently!
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▶️▶️Educational Content◀️◀️
Let's understand Fan Principle!
Rather than simply explaining the theory behind it, I've applied it to the $Btcdom chart to illustrate its practical significance.
🔷The Fan Principle is essentially a method of utilizing trendlines in various ways.
🔷Let's observe $Btcdom chart, we can see it attempted to breach the main trendline 3 times before establishing support on the third attempt, which was initially acting as resistance.
▶️ What insights can we draw from this?
1⃣ $Btcdom taking support at main trendline was a very big sign to close long positions
2⃣There were early signs $Btcdom is turning bullish by trying to break main trendline 2 times & going above the fan lines
All these observations are considered in 1 dtf.
Let me know if you find this helpful!
You can save it for future reference as we have a long way to go!
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