BCH Long trade idea
Trying out some paper trades based on some basic strategy testing. Here's my thinking for the Bitcoin cash USD pair
April 26 bullish signals;
- 3HH, 3HL since January 2021
- Watch for second green candle for double bottom to form
- 20 EMA above 50 EMA
- Candle april 23 touched 50 EMA. Two candles after that didn't, next candle green + close above that red candle
Bearish:
- MACD200 is below 0, signals bearish trend
General:
- Resistance between 1100 & 1200
TRY:
- Buy based on macro uptrend & breakout patterns (flag near 20MA + clean break from 50 EMA)
- 1% of portfolio. Set Stop just below the lowest wick of previous pullback at a little over 1 ATR.
- R/R @1.41
April 26 bullish signals;
- 3HH, 3HL since January 2021
- Watch for second green candle for double bottom to form
- 20 EMA above 50 EMA
- Candle april 23 touched 50 EMA. Two candles after that didn't, next candle green + close above that red candle
Bearish:
- MACD200 is below 0, signals bearish trend
General:
- Resistance between 1100 & 1200
TRY:
- Buy based on macro uptrend & breakout patterns (flag near 20MA + clean break from 50 EMA)
- 1% of portfolio. Set Stop just below the lowest wick of previous pullback at a little over 1 ATR.
- R/R @1.41
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