No HODLing! Scalping intraday with price action (Trade examples)
Just holding Bitcoin is a big bet on the future. Scalping intraday on the other hand can provide a regular income.
Making 2% or 3% per trade with low risk several times a day?
That is often possible scalping from the 15 min chart.
The marked trades all have tight stops with 1% - 2% risk, profit targets are always bigger than stops.
Let's look at the six trading examples in the chart, I have marked entry bars with numbered arrows:
Trade 1 - Short:
- new low expected after trendline break (also 1.leg)
- second leg down expected
- second attempt to go lower (second entry short)
Trade 2 - Long:
- second entry long from support (low of range)
- pullback to EMA expected
- target: breakeven stops of shorts (from trade 1)
Trade 3 - Short:
- short term uptrend broken + new high
- range trading expected (prices move above and below EMA)
- turned down at resistance level (11.200)
Trade 4 - Short:
- turned down at possible channel line, confirming it
- failed break higher out of tight range
- retest of lows at 10.850 + 10.700 expected
Trade 5 - Long:
- failed second entry short (second attempt to go lower after low failed)
- target at 10.200 has been reached (2. big leg down completed)
- new uptrend: target at resistance levels 10.670 + 10.900
Trade 6 - Short:
- steep uptrend broken + 2 legs to new high
- resistance at 10.900 reached
- retest of the lows at 10.200 expected because first break of big downtrend channel
- min. target: retest of upper downtrend line 10.600
What is happening right now?
Trade 6 would have been the perfect entry, because a steep downtrend emerged.
Now we had a new low after the break of that bigger channel (with a midline). T
he steeper short term downtrend has also been broken and then a new low occurred. You see the same pattern over and over again?
That means we could enter a sideways movement from here, but right now BTC is still moving below the EMA and inside the downtrend channel.
So there is still risk of getting another leg down with a target of 9.600.
Making 2% or 3% per trade with low risk several times a day?
That is often possible scalping from the 15 min chart.
The marked trades all have tight stops with 1% - 2% risk, profit targets are always bigger than stops.
Let's look at the six trading examples in the chart, I have marked entry bars with numbered arrows:
Trade 1 - Short:
- new low expected after trendline break (also 1.leg)
- second leg down expected
- second attempt to go lower (second entry short)
Trade 2 - Long:
- second entry long from support (low of range)
- pullback to EMA expected
- target: breakeven stops of shorts (from trade 1)
Trade 3 - Short:
- short term uptrend broken + new high
- range trading expected (prices move above and below EMA)
- turned down at resistance level (11.200)
Trade 4 - Short:
- turned down at possible channel line, confirming it
- failed break higher out of tight range
- retest of lows at 10.850 + 10.700 expected
Trade 5 - Long:
- failed second entry short (second attempt to go lower after low failed)
- target at 10.200 has been reached (2. big leg down completed)
- new uptrend: target at resistance levels 10.670 + 10.900
Trade 6 - Short:
- steep uptrend broken + 2 legs to new high
- resistance at 10.900 reached
- retest of the lows at 10.200 expected because first break of big downtrend channel
- min. target: retest of upper downtrend line 10.600
What is happening right now?
Trade 6 would have been the perfect entry, because a steep downtrend emerged.
Now we had a new low after the break of that bigger channel (with a midline). T
he steeper short term downtrend has also been broken and then a new low occurred. You see the same pattern over and over again?
That means we could enter a sideways movement from here, but right now BTC is still moving below the EMA and inside the downtrend channel.
So there is still risk of getting another leg down with a target of 9.600.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.