DUSK/BTC Bullish Confirmation! Easy Trade.
This was a trade I set up during my 22 December stream. Thanks to the viewer who brought this chart to my attention. This turned out to be a successful trade and a re-entry chance has just appeared. Our first entry was at 1134 Sat triggered by four things:
1. Price slowly declining to the middle of the previous big green candle.
2. Price slowly nearing the rising trend line.
3. The strength of the 0.5 Fib line as demonstrated by the big green candle that reversed exactly off of it; this indicates that price will remain above 0.5 Fib.
4. Price nearing the 0.5 Fib line which has shown its strength.
The stop loss was just below the big green candle at 846 Sat. That was an easy trade, but we just got confirmation for a follow-up trade that is just as easy.
The bullish confirmation we got was the breaking of the ascending triangle shown in the chart. The entry will be right here at 1500 Sat and a stop loss just below the swing low at 1260 Sat. This may be a tight stop loss, especially considering that the target of the ascending triangle is at 2833 Sat.
Now whoever took the first trade at the time, now is the time to move the stop loss upwards, and do the follow-up trade.
If the stop loss is hit, then we need to re-evaluate.
You can follow this chart with my drawings and indicators on it here.
Follow me for updates on this trade and others.
1. Price slowly declining to the middle of the previous big green candle.
2. Price slowly nearing the rising trend line.
3. The strength of the 0.5 Fib line as demonstrated by the big green candle that reversed exactly off of it; this indicates that price will remain above 0.5 Fib.
4. Price nearing the 0.5 Fib line which has shown its strength.
The stop loss was just below the big green candle at 846 Sat. That was an easy trade, but we just got confirmation for a follow-up trade that is just as easy.
The bullish confirmation we got was the breaking of the ascending triangle shown in the chart. The entry will be right here at 1500 Sat and a stop loss just below the swing low at 1260 Sat. This may be a tight stop loss, especially considering that the target of the ascending triangle is at 2833 Sat.
Now whoever took the first trade at the time, now is the time to move the stop loss upwards, and do the follow-up trade.
If the stop loss is hit, then we need to re-evaluate.
You can follow this chart with my drawings and indicators on it here.
Follow me for updates on this trade and others.
You should raise your stop loss to the top of the triangle or at least below the solid green candle. Good luck.