Bitcoin: BTCUSD High at 7538 (2 points short of target)
Closed out for now...looking to get long again from lower now.
Stopped out pretty much as expected last night at 7190, making 240
points on first position, 100 on second and nothing on the 3rd
entry. OK but not great, with spreads, yesterday was one
where we ended up working for the broker...selling at 7190
but buying again at 7134 as it dipped back into the buy zone
shown on the chart. Was hoping to buy more in the 7134-7090
range but price only came as low as 7120, so ended up buying
more as Bitcoin exited the second continuation pattern of the
day at 7196...and with spreads that meant the sell at 7190
was pretty much a waste of time and money.
These are the perils of trading a perfect vehicle in an
imperfect world.
Anyway, long again looking for 7540 where we'll take profits if
touched. This run has been kinder than yesterday's, so far and
we're running another 260 points of profit so far today. If we
see 7540 look to close out and re-enter long from lower down.
There is a chance that Bitcoin can smash straight through
7570...so not looking to short. If 7600 is broken on updside
and it then comes back to 7570- 7500 and finds support we
can look to go long again with stop below 7470.
Closed out for now...looking to get long again from lower now.
Stopped out pretty much as expected last night at 7190, making 240
points on first position, 100 on second and nothing on the 3rd
entry. OK but not great, with spreads, yesterday was one
where we ended up working for the broker...selling at 7190
but buying again at 7134 as it dipped back into the buy zone
shown on the chart. Was hoping to buy more in the 7134-7090
range but price only came as low as 7120, so ended up buying
more as Bitcoin exited the second continuation pattern of the
day at 7196...and with spreads that meant the sell at 7190
was pretty much a waste of time and money.
These are the perils of trading a perfect vehicle in an
imperfect world.
Anyway, long again looking for 7540 where we'll take profits if
touched. This run has been kinder than yesterday's, so far and
we're running another 260 points of profit so far today. If we
see 7540 look to close out and re-enter long from lower down.
There is a chance that Bitcoin can smash straight through
7570...so not looking to short. If 7600 is broken on updside
and it then comes back to 7570- 7500 and finds support we
can look to go long again with stop below 7470.
Trade closed: target reached:
Last Comment, last night: On the upside, providing we don't get stopped out first,
we should look to exit at 7540, or just under.
The high is 7538, just 2 points below perfect sell. Hope you exited too. That's another 300 points profit today so far. Makes up for yesterday. At least we didn't throw too much money at the brokers. on this trade. There's now a pin bar forming so hope to get long again from lower - more as move develops
we should look to exit at 7540, or just under.
The high is 7538, just 2 points below perfect sell. Hope you exited too. That's another 300 points profit today so far. Makes up for yesterday. At least we didn't throw too much money at the brokers. on this trade. There's now a pin bar forming so hope to get long again from lower - more as move develops