*DISCLAIMER: NOT FINANCIAL ADVISE BUT WHAT WORKS FOR ME*
This post is to highlight though we are in a bearish market there are still good opportunities to make great gains if you're prepared and patient. I rarely make intra-day trades when gains are far greater if you can weed out the chop and stay focused on the bigger picture. I.E. in the last 30 days I've been able to achive 40% gains in my active trading portfolio *(excluding hodl, savings, other investment accounts)* using leverage and hodl'n positions 5-15 days. We've seen a 33%ish drop in $BTC price and I was able to capitalize on 21%, I consider the other 9-13% to be educational tax, with a win loss rate of 20:1 (I consider this very fortunate and the trend mainly moved short).
*Variety is absolute key, don't put all your eggs in one basket but also don't spread yourself too thin.*
This has been achieved through the following steps:
Trading plans for both scenarios before entering a position
Trading Logs, Record EVERYTHING. The data will uncover trends in your own trading.
Trade Management
Trading with the trend
Many many more but these are the big guys
...
A very interesting positions here, we've broke downward of a major trend line (in red) and the neck of the head and shoulders developed by 9k-14k prices on the daily and weekly charts. Looking at the 4hr we've also built a quick inverse head and shoulders just under the red trend line.
Lots of contradicting signals here today so I've devised both bullish and bearish scenarios. I suspect the 9MA/18MA on the daily moving into current price action could be the time-frame triggers
BULLISH
SIGNALS: Bullish divergence on the daily RSI, Price action bottoming out on it's bearish channel, and the 4hr inverse head and shoulders could be a small signal.
ENTRY TRIGGERS: Price breaking LONG and a daily close ABOVE 7500
FIRST TROUBLE AREA: 8000
TARGET: 8500 13% MOVE
STOP-LOSS: 7300ish PRICE ACTION DEPENDENT
BEARISH
SIGNALS: Possible weekly close under major trend (In RED) which is now also .618 FIB off the 20K ATH, Major trend being bearish
ENTRY TRIGGERS: Price breaking SHORT and a daily close BELOW 6800
FIRST TROUBLE AREA: 6500
TARGET: 6100 and BELOW 12+% MOVE
STOP-LOSS: 7000ish PRICE ACTION DEPENDENT
At the end of the day I remain long term bearish with the trend, just too risky atm to confirm a bearish move is to follow.
This post is to highlight though we are in a bearish market there are still good opportunities to make great gains if you're prepared and patient. I rarely make intra-day trades when gains are far greater if you can weed out the chop and stay focused on the bigger picture. I.E. in the last 30 days I've been able to achive 40% gains in my active trading portfolio *(excluding hodl, savings, other investment accounts)* using leverage and hodl'n positions 5-15 days. We've seen a 33%ish drop in $BTC price and I was able to capitalize on 21%, I consider the other 9-13% to be educational tax, with a win loss rate of 20:1 (I consider this very fortunate and the trend mainly moved short).
*Variety is absolute key, don't put all your eggs in one basket but also don't spread yourself too thin.*
This has been achieved through the following steps:
Trading plans for both scenarios before entering a position
Trading Logs, Record EVERYTHING. The data will uncover trends in your own trading.
Trade Management
Trading with the trend
Many many more but these are the big guys
...
A very interesting positions here, we've broke downward of a major trend line (in red) and the neck of the head and shoulders developed by 9k-14k prices on the daily and weekly charts. Looking at the 4hr we've also built a quick inverse head and shoulders just under the red trend line.
Lots of contradicting signals here today so I've devised both bullish and bearish scenarios. I suspect the 9MA/18MA on the daily moving into current price action could be the time-frame triggers
BULLISH
SIGNALS: Bullish divergence on the daily RSI, Price action bottoming out on it's bearish channel, and the 4hr inverse head and shoulders could be a small signal.
ENTRY TRIGGERS: Price breaking LONG and a daily close ABOVE 7500
FIRST TROUBLE AREA: 8000
TARGET: 8500 13% MOVE
STOP-LOSS: 7300ish PRICE ACTION DEPENDENT
BEARISH
SIGNALS: Possible weekly close under major trend (In RED) which is now also .618 FIB off the 20K ATH, Major trend being bearish
ENTRY TRIGGERS: Price breaking SHORT and a daily close BELOW 6800
FIRST TROUBLE AREA: 6500
TARGET: 6100 and BELOW 12+% MOVE
STOP-LOSS: 7000ish PRICE ACTION DEPENDENT
At the end of the day I remain long term bearish with the trend, just too risky atm to confirm a bearish move is to follow.
Trade active:
I'm sure one could spend hours refining to fit levels perfectly, but that'd be a waste of time. 7600 is testing S/R flip currently, with some price action consolidation under the level already, 4hr and 1day rsi has consolidated immensely since dipping under the level, a daily close here could be a great short entry.
