many people bought mgi because its related to xrp. it was clear to sell around 9/10 as i even posted several days before the drop..
but i think a lot of people bought too high and are now in the red. following this chart would have made you profits (but comes with a lot of risk)
one trick using the heikin chart is to look for very tall wicks as seen in mgi's chart below..not sure why exactly, but its very accurate. i checked mgis chart back to 2015 and about 98% of the time when this candle formed, selling would have been good. of course, that doesnt mean the price wont go back up again
or this pattern when the price tapers off in green. id say 80% of the time when you see this, sell. of course, that doesnt mean the price wont go back up again
im not invested in mgi.
but its not always accurate.. xrp's chart during the $3 run..
false tall wick candles. selling would have lost you profits. but, the first yellow triangle isnt really a good indicator to sell because the wick isnt THAT tall. the next two would have lost you a lot of money but still would have made you a lot had you bought prior to the run
if you dont know what youre doing, dont follow this at all. its not a science by any means and just because you sell, you would then have to figure out when to buy back in which is even more difficult.
and dont forget, selling doesnt mean the price wont go higher once you sell. this stuff doesnt always pick the ATH.
i wouldnt use this stuff for investing. there are no tricks or shortcuts to fabulous riches... except ditching my ex-wife