Plan A in green. Green rectangle box is the first intermediate target
Plan B in red
For recap of "what is plan A and B ?" see my previous recap idea
Pay real attention to the medium blue line. Price should NOT go below it. Should it go below it, we will see eventually a breakdown of the wedge. We will probably retest it one last time even if we are going to get a break upward
Short opened at 8450, took a partial profit to buy my stop loss above resistance and take a little something home
Invested btc still in place, traded some swings on the downtrend
breakout upward chance, approx 60%
Previous idea :
Plan B in red
For recap of "what is plan A and B ?" see my previous recap idea
Pay real attention to the medium blue line. Price should NOT go below it. Should it go below it, we will see eventually a breakdown of the wedge. We will probably retest it one last time even if we are going to get a break upward
Short opened at 8450, took a partial profit to buy my stop loss above resistance and take a little something home
Invested btc still in place, traded some swings on the downtrend
breakout upward chance, approx 60%
Previous idea :
Comment:
Broke up, now pulling back. Still high chances of a fakeout, so buy low at pullback, don't engulf in green candles
Comment:
took half profit on the short , 25% more at 7750, and letting the rest ride until stopped at 8500 to lock profits in case of a fakeout
(opened at 8600 for those on Telegram's channel or Chart Attack (sumastardon's chat)
risky buy at 7750$
(opened at 8600 for those on Telegram's channel or Chart Attack (sumastardon's chat)
Comment:
I got asked why I took some profits. We are retesting the breakout. I expect it to fail, but I trade like it will succeed on bouncing to minimize risk
Comment:
btcusd update
- still holding well above the resistance, playing in range. As long as we are over it, longs are good.
bands are being squeezed, so reaction should happen soon
- I think we will retest it later at around 7650 - 7800 levels tomorrow, and then complete plan A (60%)
- Should it break this resistance or not hard bounce, we will see a slow bleed and then plan B resume while A is invalidated
Shorts can be opened at around 8600-8700$ with a SL at 8850$
- still holding well above the resistance, playing in range. As long as we are over it, longs are good.
bands are being squeezed, so reaction should happen soon
- I think we will retest it later at around 7650 - 7800 levels tomorrow, and then complete plan A (60%)
- Should it break this resistance or not hard bounce, we will see a slow bleed and then plan B resume while A is invalidated
Shorts can be opened at around 8600-8700$ with a SL at 8850$
Comment:
Momentum is squeezed. We hit the minimum target at 8900 for minimum uptrend before resuming downtrend or retracing before further up even if we are not yet at target, so be careful on your longs now, you can take partial profits. I personally shorted with a tight stop loss as planned
Comment:
#btcusd still moving within the rising wedge, we got stopped during the night at breakeven, only to go back into (lost) profit :)
long possible with SL at 8850$ in case of new impulses since we are closer to support than to resistance
long possible with SL at 8850$ in case of new impulses since we are closer to support than to resistance
Trade closed: target reached:
To clarify :
note that since our target 1 got hit, we took half off (including the partial at 8900$, the remainder of the trade can be put under a stop loss at 8850. We haven't resumed shorting until we can see a clear divergence (starting to show on 1h) or breakdown of the rising wedge, and we will buy back the dip
note that since our target 1 got hit, we took half off (including the partial at 8900$, the remainder of the trade can be put under a stop loss at 8850. We haven't resumed shorting until we can see a clear divergence (starting to show on 1h) or breakdown of the rising wedge, and we will buy back the dip