Short

R.I.P. BCH

By JJFF21

Updated

Very clean pattern,

Good luck

Trade active

Seems to be a breakout with a decent volume. I put my stop to my Entry point and increase my position

Trade active

Please note that if the price go back inside the pattern i will decrease my position

Note

I expect retest of the 594 area before the down. Could go straight also

Trade active

stopped at Entry point for break-even.
Note : I come back to this trade if we get back in the pattern and expect a big move down if this happen

Note

I see this stop-hunts often, this why i put my stop to break even as soon as possible.
This is actually tradable in both sides, but too complicated to explain here.
If we go back in the pattern, i expect a huge move down, my target will be minimum 538 for a far better risk reward

Note

Entry around 600, according to price action

Note

Trade is active, SL 610 , TP 570 and 538

Trade active

Expected red candle, Stop at entry point now

Note

I will take 25% at 570, 50% at 538 and let the 25% left to ride it until 305 as a swing trade

Trade active

Stopped at Break-even again. looking for re-entry after this fishy pump

Note

Looking to enter if it goes under 603-601.5

Trade active

Entry 602 SL 606 TP 25% 591 TP 50% 572 TP 25% 305

Trade active

Here's comes the big red candle i expected, moving stops to Entry

Trade active

Moving Stop to 600

Trade active

TP1 Reached : Trade in profit

Note

Will be busy this week-end
Reminder : I am now freerolling 75% of my position
Stop is still 600$, i will move it to 590$ after TP2 is reached at 527$
Remaining 25% of the position will be kept until 305$.

Note

Erratum : misspelled : TP2 is at 572$

Trade closed: target reached

TP2 Reached
I let 25% of my position running until 305$ and have profit locked.
Total success.
Another trade learned us that finding a setup is easy, managing a trade is hard.
This trade is good education it shows why you need to enter at the right time and lower your stop to your entry as soon as possible to avoid market maker to eject you from your trade.
A bad strategy would have been to put a larger stop, this is a leak a lot of people have and most of them are losing money doing so.

Good Luck and see you soon

JJFF21

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