BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
seeing some good strong bullish momentum here testing the 50 ema which can act as support followed by breaking another levelled zone matching with 618 fib,

Comments

Hi and no problem and we might not get to 618 fib 0.5 or 50% is fine on this trade as long as we see rejection as well from the 50 EMA
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ShadowJ LucasMatthew
@LucasMatthew, I am still learning the ropes of trading and I asked this to help setup my stop loss for safety, ended up setting for around 70 below the 618 fib you defined. Would you say it is fairly setup? And thank you once again.
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@ShadowJ, depending on your account size buddy my stop is projected my 618 fib and the moving support IE the EMA but if this starts to break below this area i would then cut my trade this stop loss could be tighter if you wanted it to be
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ShadowJ LucasMatthew
@LucasMatthew, my account size unfortunately is still tiny haha I pondered on setting it tighter, but given my account size that would only reflect in like 1 or 2 dollars so I decided to give be a bit more room for potential growth if there's a temporary dip. My goal at this moment is to learn while getting small bumps up on my fraction of bitcoin and seeing and discussing analysis like yours is truly helpful :)
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@ShadowJ, yes that make sense, just risk correctly and make sure you study hard :) share your thought etc your more than welcome to message me with anything your looking at etc and your account will grow if your heads in the right mind set ;)
+1 Reply
ShadowJ LucasMatthew
@LucasMatthew, I really appreciate it and I'll study! I've started following you so I'll keep an eye on your future analysis and be sure to share my thoughts (if I have any haha) and of course hoping my account indeed grows ;)
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Closed trade with 1%
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Hello, thank you for the analysis! :) Do you think it will still hit the 618 fib before heading up?
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