This is my plan to trade BTCUSD based on historical price data.
Today I didn't have enough time to add all the pictures to explain my hypothesis better; however, the idea goes like this.
What happened every time the price was on a consolidation phase bigger than 150 days, and a new ATH happened?
I looked at the chart since I have data (2011), and my conclusion is that every time that was the case, we observed a correction that can have some of the following parameters:
-15% correction at least
-The price does not make a new ATH after six days
If any of those criteria are true, the consecutive movement when the price makes a new fresh ATH is the beginning of a new 200% bullish movement (as a minimum)
Of all the scenarios I tested only in one, I had a stop loss and then a re-entry with a positive result.
Please don't believe me; use the logarithmic chart to identify all these scenarios I have told you: 150 days consolidation + New ATH + 15% correction at least or 6 days consolidation.
Thanks for reading; I hope this may be useful for you guys. This is the exact way I will be trading if the filter happens, I will be risking 2% of my capital. My target for this trade will be 190.000. It's hilarious to write that number, but hey, we are in the crypto world; nothing makes sense here, so the statistics are showing me that, and I will follow it, AS ALWAYS!
Please feel free to add ANY idea or thought in the comments! Thanks
Today I didn't have enough time to add all the pictures to explain my hypothesis better; however, the idea goes like this.
What happened every time the price was on a consolidation phase bigger than 150 days, and a new ATH happened?
I looked at the chart since I have data (2011), and my conclusion is that every time that was the case, we observed a correction that can have some of the following parameters:
-15% correction at least
-The price does not make a new ATH after six days
If any of those criteria are true, the consecutive movement when the price makes a new fresh ATH is the beginning of a new 200% bullish movement (as a minimum)
Of all the scenarios I tested only in one, I had a stop loss and then a re-entry with a positive result.
Please don't believe me; use the logarithmic chart to identify all these scenarios I have told you: 150 days consolidation + New ATH + 15% correction at least or 6 days consolidation.
Thanks for reading; I hope this may be useful for you guys. This is the exact way I will be trading if the filter happens, I will be risking 2% of my capital. My target for this trade will be 190.000. It's hilarious to write that number, but hey, we are in the crypto world; nothing makes sense here, so the statistics are showing me that, and I will follow it, AS ALWAYS!
Please feel free to add ANY idea or thought in the comments! Thanks
Trade active
The setup is active according to the filters we established before.
Trade closed: stop reached
-3%Note
Comment: As I wrote before in the original post:"Of all the scenarios I tested only in one, I had a stop loss and then a re-entry with a positive result."
I'm waiting for a re-entry according to the plan, the parameters are the same as the previous setup. Same risk (3% on the stop loss)
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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.
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.