Siacoin / Bitcoin LONG on break above after dip
Entry:
We're going to buy when the price breaks above these highs of the 1st and 4th candle.
Stop:
The stop will be going under the swing low. A break of this stop will also be breaking the blue trendline.
Exit:
We will look to move a stop up under the swing lows and ride the trend out as long as possible.
Things i'm considering:
- The overall direction is changing with a break above the moving averages and the price holding above.
- The price is creating concise higher lows that fit to a trendline.
- The fastest MA has begun to turn green
- The trend is building up slowly at the moment, there is no erratic movement showing indecision.
Mark
We're going to buy when the price breaks above these highs of the 1st and 4th candle.
Stop:
The stop will be going under the swing low. A break of this stop will also be breaking the blue trendline.
Exit:
We will look to move a stop up under the swing lows and ride the trend out as long as possible.
Things i'm considering:
- The overall direction is changing with a break above the moving averages and the price holding above.
- The price is creating concise higher lows that fit to a trendline.
- The fastest MA has begun to turn green
- The trend is building up slowly at the moment, there is no erratic movement showing indecision.
Mark
Comment:
I'd consider this idea invalid now as the blue trendline has been broken. Perhaps due to bitcoin making a signal that it's moving upwards again.
Order cancelled:
because of comment above
