Please refer to my previous post. I was expecting BTC to build a good base and go up strongly to 7400 but base on how the chart is moving, i dont think its going to go up so strong. Therefore, I will need to change my TP to a lower level.
Trade #4 Trading on Bitmex EP: 6800 SL: 6631 TP: 7450 account size: 1.8749 BTC Order size: 20000 risk : 4%
Trade #2 Trading on Bitmex EP: 6490 SL: 6360 TP: 6900 account size: 1.0000 XBT Order size: 13000 risk : 4%
Trade Planning/ Idea Nothing much now, but if the price is not going anywhere, we shall assume it to be stuck inside some channel and in this case, its between 6300 and 5750. Will probably have to wait till evening or tomorrow before some tradable patterns appear. But we should always be prepared !
Today is the start of me keeping a strict record of all my trades. I am kind of a lazy guy so forcing myself to do it. Trade #1 Platform Use: Bitmex Account Starting Size: 1.0000 XBT Risk: 4% EP: 6620 SL: 6440
LAST CHANCE to long at good price. dont miss this train! I thought it was going to go down but the price action yesterday was super strong with good volume. zoom in to smaller timeframe to look for good entry point. set SL below the red trendline. even if we get stopped out, we have to re enter again. maybe you lose 2 times but when the 1: 10 move comes,...
the area circled in blue was a very obvious distribution phase. price was creeping upwards but with subsequently lower volumes. there was about 4 hours for us to get into short and the risk to reward was very good ! ( about 1 : 3 ) anyway we are definitely looking for more downwards movement. lets wait for some retracement before going in...
Lets be patient and wait for a base to form again before aiming to go long. dont think we should do any shorting from now on
LOOKS like we have a clearer signal forming! infact, there were 2 opportunities yesterday. we could have caught the short trade from 5400 , and then catch the long trade up form 5050. The support at 5100 looks quite strong ( price tested it 3 times !) and we can higher highs and higher lows. coupled with the fact that the US markets were down initially...
the big movement for now is over lets just try to catch some small movements within the 1200 dollars range. use the trendlines and support and resistance lines well. wait for obvious chart patterns to form on smaller timeframes before entering. AVOID catching falling knive of try to short an up-run. the ending is always 100% disastrous.
so far so good! its been a very rough ride, but we just need to set a wide stop loss. you can wait for a long breakout before entering just to " play safe" the recovery is fast and furious ! will shoot up to 6300 very quickly. today or tomorrow might be the last day to get in at a good price. the spike means that the market has shown has that it is...
THIS IS NOT A DEAD CAT BOUNCE the bounce from 2 days ago and 3 days ago were dead cat bounce. but this rebound from 3600 is extremely strong and it is very likely to be a V SHAPE rebound. super down and super up. even if we go long now, the random spikes down might kill us if our leverage is too high. but once it starts to shoot up, its going to...
from the volume and the price action, it doesnt look like a dead cat bounce. it looks like a really solid rebound from an over panicked market reaction. we are going to look for some retracement before going LONG again. i think the action is over for tonight.
congrats to myself !!! caught it at around 3600 hahaha went in at 4000 at first but hit my SL. then i managed to re-enter LONG just right before BITMEX crashed! how amazing is that. ok right now, we are going to witness the GOD OF ALL REBOUND. if you are going to long now, you can long but with $200-300 dollars stops because the volatility is still...
next level of support..... during the early 2019 ! around 4100. right now, everybody is super overreacting. this is not even the start of the bear market yet, its just a overly reacted correction. ( albeit a huge one ) lets load our guns and get ready to LONG !! longing now is too early, and not much meat left for shorting. so lets just sit tight and...
the reason i am posting on ETHUSD is because, i cannot find any fucking good support levels on BTCUSD. right now everyone is thinking: whoa it crashed so much! so it should rebound greatly right? but if it were to rebound, it would have rebounded long ago already. i think what is going to happen is, its going to break this previous LOW as seen on the daily...
price is moving up strongly , but with lower volume. this shows that this jump was caused by stupid buyers who panicked. they saw that BTC dropped so low suddenly and they were urgent to take profit. and people who were shorting, saw their profits evaporated and they joined in to take their profits too. meanwhile, people who entered short at high leverage...
congrats to those who have shorted, but if we look at the daily chart, its might still be kinda early to take profit. its in the middle of the ZONE/ CHANNEL currently it seems like there's still another $200 worth of downside so set your protective stops and let it ride out. at around 7400, we will look for LONG opportunities. GET READY !