If you feel that BTC has gone bonkers the last few weeks and you are having a hard time pocketing profit, you are not alone!
A lot of my family and friends who joined paid channels mentioned they too are experiencing massive losses. If you are following some of these folks, stay around for those who admit and apologize. Remember that you are still their customer, they may not always be accurate, no one is a wizard, but you paid for their services so expect them to treat you with humility and courtesy.
My plan for today's trade:
On with today's chart!
Suspecting another fakeout, I just recently closed my ongoing long at the peak of the BTC that just occurred.
I decided to simply put a neutral for our chart today as BTC have been very volatile. Those circled areas that I put in chart are literally wiping both bears and bulls (swing up and down or down and up back to back in a very short time frame). I do not advise you take an invested trade at times like this. A quick short trades will be more beneficial, take profit when you can, and remember to always set a stop loss/stop profit.
As of now BTC is looking bearish. We briefly broke our downtrend channel few hours ago, but was ridiculously rejected down back to square one in less than two hours. You will also notice we have way more attempts going up and rejected rather than going down and bouncing up. A friend of mine who works in the financial sector mentioned that at the moment that retails are buying heavily (he assumed the Russians), whereas whales are not.
Why am I not going short? Because the two red solid parallel lines as now represent "the twilight zone" (the zone where you just literally lingers and not making any progress) and we are currently back into it.
Ideally should you plan to take a position, wait for your indicators to be at max oversold or overbought, and somewhere along the yellow dotted lines. Do not be greedy, when you are in profit take it out or at least set a quick stop profit.
I dont usually post much, if you have been following me, I usually do longer invested trades. But given this interesting times, I will try to post more the next few days. If you find my insight or input helpful, please share a moment to share your thoughts and give my post a like. Thank you so much for your time!
Wishing you the best of health and fortune.
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Please support my idea with a like should you find my idea helpful, it will mean a lot to me. Thanks and kindest regards!
A lot of my family and friends who joined paid channels mentioned they too are experiencing massive losses. If you are following some of these folks, stay around for those who admit and apologize. Remember that you are still their customer, they may not always be accurate, no one is a wizard, but you paid for their services so expect them to treat you with humility and courtesy.
My plan for today's trade:
On with today's chart!
Suspecting another fakeout, I just recently closed my ongoing long at the peak of the BTC that just occurred.
I decided to simply put a neutral for our chart today as BTC have been very volatile. Those circled areas that I put in chart are literally wiping both bears and bulls (swing up and down or down and up back to back in a very short time frame). I do not advise you take an invested trade at times like this. A quick short trades will be more beneficial, take profit when you can, and remember to always set a stop loss/stop profit.
As of now BTC is looking bearish. We briefly broke our downtrend channel few hours ago, but was ridiculously rejected down back to square one in less than two hours. You will also notice we have way more attempts going up and rejected rather than going down and bouncing up. A friend of mine who works in the financial sector mentioned that at the moment that retails are buying heavily (he assumed the Russians), whereas whales are not.
Why am I not going short? Because the two red solid parallel lines as now represent "the twilight zone" (the zone where you just literally lingers and not making any progress) and we are currently back into it.
Ideally should you plan to take a position, wait for your indicators to be at max oversold or overbought, and somewhere along the yellow dotted lines. Do not be greedy, when you are in profit take it out or at least set a quick stop profit.
I dont usually post much, if you have been following me, I usually do longer invested trades. But given this interesting times, I will try to post more the next few days. If you find my insight or input helpful, please share a moment to share your thoughts and give my post a like. Thank you so much for your time!
Wishing you the best of health and fortune.
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Please support my idea with a like should you find my idea helpful, it will mean a lot to me. Thanks and kindest regards!