Nice Long Trade On Bitcoin Incoming
It's very likely we move to 48k. The question is where is the pivot that takes us there.
Will it be from a running flat elliott wave pattern like we see in the green path
OR....
Will it be with a complex WXY that visits our bullish OB (order block) first and then pivots around 41.8k to make its way up to 48k.
In either case, the long to 48k looks appetizing.
Will it be from a running flat elliott wave pattern like we see in the green path
OR....
Will it be with a complex WXY that visits our bullish OB (order block) first and then pivots around 41.8k to make its way up to 48k.
In either case, the long to 48k looks appetizing.
Trade closed: target reached:
So Bitcoin went with a triangle. We were able to catch an insanely good entry on it with a 1:32 Risk vs reward ratio trade because of the invalidation of the triangle.
Meaning if you risked losing just $100 on this trade you would have made $3,200 in profit minus fees. This trade took 2 days and 2 hrs to complete. Said another way, if you risked 1% of account size on the trade you would be up 32% on your entire account.
Trades like this are easier to hit than you think by using a multi timeframe process and mastering our #1 strategy. Even then, because you are using smaller time frames to nail your entry and stop loss it requires the psychology to be wrong up to 3 times in a row before nailing the actual move.
If you don't like taking losses and then taking a trade based on the same signals immediately after then this sniper process of using multiple time frames to get risk vs reward trade of 1:10 and as high as 1:32 then you wouldn't want to use the multi time frame process.
I'd argue if you haven't mastered taking losses and being able to get over it quickly and execute immediately afterwards that trading is going to be very difficult for you.
Learn to master a loss and stay level headed to take action immediately after when needed.
Follow this channel for an upcoming educatinal series I'll be putting together.
Meaning if you risked losing just $100 on this trade you would have made $3,200 in profit minus fees. This trade took 2 days and 2 hrs to complete. Said another way, if you risked 1% of account size on the trade you would be up 32% on your entire account.
Trades like this are easier to hit than you think by using a multi timeframe process and mastering our #1 strategy. Even then, because you are using smaller time frames to nail your entry and stop loss it requires the psychology to be wrong up to 3 times in a row before nailing the actual move.
If you don't like taking losses and then taking a trade based on the same signals immediately after then this sniper process of using multiple time frames to get risk vs reward trade of 1:10 and as high as 1:32 then you wouldn't want to use the multi time frame process.
I'd argue if you haven't mastered taking losses and being able to get over it quickly and execute immediately afterwards that trading is going to be very difficult for you.
Learn to master a loss and stay level headed to take action immediately after when needed.
Follow this channel for an upcoming educatinal series I'll be putting together.
This was the trade we ended up taking in our group treating the consolidation as a triangle which had a very tight invalidation level if we were wrong which made for an incredible risk vs reward trade setup.