Hello Guys, I wrote about this Bitcoin swing trading strategy two months ago.
If you liked my idea or learn something from it, please hit that like button and share this idea with your friends. Thank You
The rules are simple:
1. short term moving average crosses long term moving average on the daily chart
2. one oscillator supports further upward movement (I personally use MACD)
**I used to exit trades whenever the opposite situation happens but this exit strategy has a problem which is in many cases you loose the main gains of the move so I decided to optimize my strategy and partially take profit on the way up at different resistance levels and round numbers.
And right now, this strategy is giving me a buy signal again on the Bitcoin chart
1. The daily MA cross over is happening
2. MACD on the Daily chart is supporting the further movement towards the upside
So I go to the lower time frames to find a good entry price.
On the 4h chart I've watched the price action today.
The price broke the resistance and retested the previous resistance area into support which is very bullish for a bull trend. So I got my confirmation on the lower time frame and a good entry point.
**Not a financial advice, just personal idea. DYOR **
Thank you for your attention and good luck!
If you liked my idea or learn something from it, please hit that like button and share this idea with your friends. Thank You
The rules are simple:
1. short term moving average crosses long term moving average on the daily chart
2. one oscillator supports further upward movement (I personally use MACD)
**I used to exit trades whenever the opposite situation happens but this exit strategy has a problem which is in many cases you loose the main gains of the move so I decided to optimize my strategy and partially take profit on the way up at different resistance levels and round numbers.
And right now, this strategy is giving me a buy signal again on the Bitcoin chart
1. The daily MA cross over is happening
2. MACD on the Daily chart is supporting the further movement towards the upside
So I go to the lower time frames to find a good entry price.
On the 4h chart I've watched the price action today.
The price broke the resistance and retested the previous resistance area into support which is very bullish for a bull trend. So I got my confirmation on the lower time frame and a good entry point.
**Not a financial advice, just personal idea. DYOR **
Thank you for your attention and good luck!
