BTCUSD Bankroll Wizardry Trade Idea No.1 (BTC LONG - Long term)
4hr,1D,1W Chart looks great on all time frames. This is a longer term play 1-3 Months Target
4.55 R/R ratio with an Entry at 6450
A Safe R/R and Position sizing example for beginners: if trader X has $10000 In total and put $1500 on this trade the max exposure to loss would be only 0.69% of total trading balance. If you wish to risk more and subsequently increase your win if the trade goes in the direction of choice you can simply apply Leverage on exchanges such as Deribit or Bitmex (use leverage at own risk)
Trade Target is right on the next heavy horizontal resistance line at 7790 - You can manage your trade as the price encroaches upon the resistance line to either change to a short position or exit the trade with profit and wait for a retest if the resistance line breaks and chose weather or not to re enter the trade if you believe the market is going to go to higher price levels. Just bear in mind your R/R ratio does change as price action developed and it would be wise to manage the trade accordingly until you have determined the trade is no longer worth the candle.
Stop loss is placed at 2 horizontal support levels lower than the price action currently is. This gives us plenty of breathing room before being stopped out however depending on your risk taking characteristics you can move the stop to sub 6xxx levels if you wish as the 6000 area for BTC tends to absorb all downward pressure this year so far.
All in all Shorting BTC anywhere under the 6400 Area has been more often then not a risky move and it is of my own personal bias based on Technical analysis and market behavior that i firmly believe that going long anywhere from 6000-6500 USD is a sound long term strategy
Play it safe. Dont risk more moeny for the sake of it. Protect your capital. Preserve your Capital. Grow your capital
- Bankroll Wizardry
4.55 R/R ratio with an Entry at 6450
A Safe R/R and Position sizing example for beginners: if trader X has $10000 In total and put $1500 on this trade the max exposure to loss would be only 0.69% of total trading balance. If you wish to risk more and subsequently increase your win if the trade goes in the direction of choice you can simply apply Leverage on exchanges such as Deribit or Bitmex (use leverage at own risk)
Trade Target is right on the next heavy horizontal resistance line at 7790 - You can manage your trade as the price encroaches upon the resistance line to either change to a short position or exit the trade with profit and wait for a retest if the resistance line breaks and chose weather or not to re enter the trade if you believe the market is going to go to higher price levels. Just bear in mind your R/R ratio does change as price action developed and it would be wise to manage the trade accordingly until you have determined the trade is no longer worth the candle.
Stop loss is placed at 2 horizontal support levels lower than the price action currently is. This gives us plenty of breathing room before being stopped out however depending on your risk taking characteristics you can move the stop to sub 6xxx levels if you wish as the 6000 area for BTC tends to absorb all downward pressure this year so far.
All in all Shorting BTC anywhere under the 6400 Area has been more often then not a risky move and it is of my own personal bias based on Technical analysis and market behavior that i firmly believe that going long anywhere from 6000-6500 USD is a sound long term strategy
Play it safe. Dont risk more moeny for the sake of it. Protect your capital. Preserve your Capital. Grow your capital
- Bankroll Wizardry