Successful EOS Bullish Triangle – From The Trading Idea To The Live Strategy

There are hundreds of cryptocurrencies traded 24/7, multiple time frames that can be used to analyze them, and on top of that, there are endless technical analysis indicators and patterns that any trader can use to take his decisions.

With so many variables involved, every single day there are endless opportunities that any trader can exploit. Coinrule helps you to manage all these variable, allowing you to define the conditions that you require to take a specific action for your trading activity.

If you look at a chart, you will tend to anticipate “what’s next”, instead, a cryptocurrency trading bot can accurately examine the market, looking for a specific condition.

No emotions involved means more efficiency for your trading. 

Here, for example, looking at the EOS chart and imagining to be at the moment prior the orange vertical line, you wouldn’t have enough information to say where the price is heading.

Automatic trading strategy.
How a crypto bot can improve your trading system

The possible scenarios here are four:

  • The price can break above the previous “high”, breaking the triangle
  • The price can experience a temporary retracement on the first immediate support and then rebound with a significant price change in a short period. In this case, the buyers in the “liquidity area” represented by the horizontal support will additionally drive the move up
  • The price could also stall here, hovering above the horizontal support, not providing any interesting trading opportunity
  • The price can break below the support, sellers are “stronger” than buyers, and so, we are not interested in buying at this point, at the contrary, we should sell if we have some EOS in our wallet.

Given our assumption about how the market could evolve, we can say that if you want to buy EOS, the first two scenarios are ideal for initiating a new position (or for adding to one already in place) with an excellent risk-reward profile.

With a clear trading plan in mind, you can use Coinrule to set up your automated trading strategy. This is a very common situation in which a trading bot will make your life much easier.

In the Rule Page, you can create your strategy in minutes. First, select the exchange you want to trade on, then fill in the fields according to your view.

trade eos on binance automatically
automated crypto trading for eos

For example, if you want to buy EOS only if the price exceeds a certain price level, or there is a significant price change in a short time, in the “IF” section, you just have to set

“if EOS has a price greater than 0.0011 BTC”.

And combine it with an additional condition, in this case

“OR EOS has a price increase of 5% within one hour”

THEN” select the amount and the asset to trade and the wallet that you want to use

“BUY $50 of EOS from the BTC Wallet”

Finally, decide how many times you want this rule to be executed, name the rule created, revise it and you will be ready to launch your strategy live on the market.

You can see now how easy it is to plan a trading strategy, design it and run it in minutes with Coinrule!

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Example rules for your trading ideas

A feature of Coinrule that we are particularly proud of is its versatility that allows many different types of investors and traders to use the platform. Here you will find some examples of rules that you can set up with Coinrule.

Using our Demo Exchange option, you can test your rules without putting your capital at risk: we will provide a virtual allocation for you to run your strategies.

One of the main rules any trader should follow is to have safety thresholds in place in case the market goes against you. Often, the decision to close a trade with a small loss can be a big advantage compared to keeping bags of coins with declining value in your portfolio.

You can consider this “avoided loss” as the gain that you will reinvest in your next trade!

You can easily accumulate your favorite coins via Coinrule. All you have to define are the conditions at which you would like to buy. Coinrule will wait for those conditions to appear before executing your buy orders.

Think long term, often it is better to buy over a longer period of time instead of FOMO-buying during a strong upward price move.

Instead of accumulating a coin across multiple orders, maybe you just want to wait for a breakout to happen. When the price attempts to surpass a certain level for a long time without success, it means that selling pressure is firm (and, from another perspective, buyers are not sufficiently convinced).

The new trend that starts from a long term resistance being finally breached can be very powerful. Coinrule make it easy to catch that opportunity.

At other times it’s not so easy to identify the price level that must be breached to start a new uptrend. One way to try to set up a trend following strategy in this situation is to define a percentage price surge that you consider to be the accurate indicator of the start of a sustainable uptrend.

To enter into a trade on a significant price surge already in place is quite risky because the FOMO trap is always a great concern to take into account. On the other hand, in some situations, the trend that begins following that breakout is so strong that there is still sufficient opportunity to benefit from it.

Consider that “missed gain” as the cost of entering the trade with greater confidence into the underlying strength of the trend.

After breaking upward the “bull pennant” pattern, BNBBTC price spikes around 60% in only few weeks

Altcoins are highly correlated with Bitcoin, that means that Bitcoin’s trend determines their short term moves significantly. If you take appropriate actions considering this aspect, that can provide excellent opportunities for new trades and at the same time can offer protection from downturns that can profoundly affect your bags of coins.

For example, if you would have sold at least part of your altcoins bags when Bitcoin broke the 6000 USD support mark in November, you would have protected your capital, and you would find yourself able to reinvest it in a new position in a new phase of accumulation.

Coinrule flexibility allows you to decide the specific coins you want to sell or buy depending on how the price of Bitcoin will move, or, for example, you can just sell those that are performing better (or worse) at that moment.

Of course, you can select any available coin in the condition, that will add even more versatility to your strategy. You have full control of your rule.

These are some samples of the potentials Coinrule can offer you.
Log in to our platform and create your own rule now!

Trade safe!