CRInvestor
Long

BTCe 4hr Bullish BoT comes alive

BTCE:BTCUSD   None
561 views
6
Hello all,
Thought I would quickly post the 4hr chart on BTCe just to give you an idea of one setup that has come alive for me today. With the move through $610 we have confirmed a nice double bottom off the 38.2 Fib. Levels for the setup are outlined on chart above. While a this trade has a bit higher level of risk, this setup is perfectly justifiable and as long as it fits your trading plan I wouldn't have a problem with a person taking the trade.

Cheers all and hope you can you this information to your benefit.

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Comments

Hey Brian,

Dumb question here. What does "AOCO" mean?

Thanks
+1 Reply
Macainian cornbit
I think he has answered this before in another chart, but I also forgot what it meant. Perhaps it should be added in the description of any chart that uses that term :)
Reply
CRInvestor cornbit
No dumb questions, AOCO stands for Automatically order cancels order. It is the name of the order the floor traders use on the T4 platform. T4 is the program almost all floor brokers use. It simply means that once the order (in this case to close out the position with a sell order) is filled all other open orders (stops in this case) are automatically cancelled by the exchange. I sometimes forget I am not dealing with vetrans....so good question to ask...

cheers,

brian
+2 Reply
cornbit CRInvestor
Thanks!
Reply
Again a super plan!
Reply
CRInvestor RomanoRnr
someone famous used to say: 'ah, I love it when a good plan comes together'....lol
+1 Reply
RomanoRnr CRInvestor
making a plan, and having an amazing profit... feels like fukin heroin! :P
The BTC Bear/Bull bot is really interesting
+1 Reply
Kilgore RomanoRnr
Hi RomanoRnr, which bot are you talking about? I am now intrigued...
Reply
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