My bias was bullish till 10000 and now in the last two weeks, BTC's failure to make a higher high on the daily or 3D or weekly with declining volume has reduced my bullish bias a tad bit. While I currently sit flat, I am observing the weekly with a huge interest. The accompanying weekly chart shows we are the apex of the triangle from June 2019 highs and March, 2020 bottoms. Its time BTC makes a decision this week or next. Hence, my set-ups are simple, break 10000 on the weekly close, and I enter long with. 14000 as target by end of June. I think 10500 will provide tough resistance but it will be over come.
On the short side, if we close below 9300 on the weekly, I will be targeting 7800 within a week. Short trades always happen quickly.
My setups are as below:
Long side:
1. Condition: Weekly close above or daily close above 10200
2. Target: 14000
3. Stop-loss: 9500
4. R:R: 8:1
Short side:
1. Condition: Weekly close below or daily close below 9300:
2. Target: 7800
3. Stop loss: 9700
4: R:R: 3.4
Declining volume on the daily hints more at the short trade getting triggered
On the short side, if we close below 9300 on the weekly, I will be targeting 7800 within a week. Short trades always happen quickly.
My setups are as below:
Long side:
1. Condition: Weekly close above or daily close above 10200
2. Target: 14000
3. Stop-loss: 9500
4. R:R: 8:1
Short side:
1. Condition: Weekly close below or daily close below 9300:
2. Target: 7800
3. Stop loss: 9700
4: R:R: 3.4
Declining volume on the daily hints more at the short trade getting triggered
Сделка активна:
The 'long' and 'short' positions aren't positioned correctly in the charts. So, please be careful about it and read the text below. I will update this regularly
Сделка активна:
Short active from 9300 :-) Now we wait with buyStop at 9700
Сделка активна:
willl move stop-loss to 9300 for a break even trade at midnight UTC today. Double top confirmation and hence, expect it. to go down but a break up could be devastating also. So protecting capital here
Сделка активна:
Now, it’s become a risk free trade. So letting it go.
My take profits are:
1. 15% at 8700 (done this morning)
2. 15% at 8500
3. 20% at 8200
Rest at target of 7800.
My rule of trading, always book profits.
My take profits are:
1. 15% at 8700 (done this morning)
2. 15% at 8500
3. 20% at 8200
Rest at target of 7800.
My rule of trading, always book profits.
Сделка закрыта: достигнута стоп-лосс цена:
stopped out overnight at 9300. Am I happy with the trade - yes. Made a 0.25R on this trade, even when the trade will go against me now.