I love this kind of trades where you have a clear entry and a clear stop loss .
RSI is making divergences on different time frames.
bottom seem to hold
we had a bounce and a drop that re-tested the support .
On the daily, today it looks like a doji at the bottom of ta bull flag.
RSI is making divergences on different time frames.
bottom seem to hold
we had a bounce and a drop that re-tested the support .
On the daily, today it looks like a doji at the bottom of ta bull flag.
Trade active:
LETS GO CHAMP
Comment:
if the support fails, i m going short.
Comment:
double top , we're at the neckline . if recall correctly, only 30% actually break the neckline. So i m keeping my long for now
Trade closed manually
Comment:
Post trade analysis:
BTCUSD was forming a triangle that was likely to shoot upwards( and it did).
Case 1. BTC shoots upwards and rallies for a bit : LTCBTC goes down or sideways at best. (It can't compete with the short term rally of the BTCUSD pair)
Case 2. BTC triangle breaks downward. : LTCBTC goes sideways or down. The chances for a LTC rally when big daddy BTC is falling is low.
Strong BTC movements in any direction tend to cause alts to bleed.
Conclusion: Long was a low probability trade. A good stoploss saved me from bagholding
BTCUSD was forming a triangle that was likely to shoot upwards( and it did).
Case 1. BTC shoots upwards and rallies for a bit : LTCBTC goes down or sideways at best. (It can't compete with the short term rally of the BTCUSD pair)
Case 2. BTC triangle breaks downward. : LTCBTC goes sideways or down. The chances for a LTC rally when big daddy BTC is falling is low.
Strong BTC movements in any direction tend to cause alts to bleed.
Conclusion: Long was a low probability trade. A good stoploss saved me from bagholding