BitcoinUpdated BTC counter trend -> short
Unfortunately the price hit the $9,300 target before hitting our buy limit order @ $8,400. Trade was cancelled.
Now, there is a counter-trend short idea on the 4hr timeframe.
A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
Let me remind you again, the current market condition is the most difficult to trade since 2018. A lot of choppy movements are expected. Thus, please risk manage (please take a look of my educational posts below on risk management if you are yet to read them)
***This idea is only for educational purpose. Not a financial advice***
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Past winning trades: (without leverage)
Bought between $5,000 - $5,500. Sold around $6,850 (30% profits)
Entered $8450, sold around $9,800 (16% profits)
Bitcoin dropped from 12k to 7k as expected (40% fall)
Perfect call on 12k weekly resistance
Bitcoin, perfect call (300% profits)
Bitcoin, bought between 6.8k - 7.3k (40% profits)
Bitcoin dropped to 3.5k as expected (40% fall)
Bitcoin, bought $6220 target $8480 (36% profits)
Educational posts:
2618 trade
Top-down analysis
How I draw the trendline
Risk management series:
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Now, there is a counter-trend short idea on the 4hr timeframe.
A bearish engulfing pattern has emerged at the bearish bat pattern potential reversal zone.
Let me remind you again, the current market condition is the most difficult to trade since 2018. A lot of choppy movements are expected. Thus, please risk manage (please take a look of my educational posts below on risk management if you are yet to read them)
***This idea is only for educational purpose. Not a financial advice***
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Past winning trades: (without leverage)
Bought between $5,000 - $5,500. Sold around $6,850 (30% profits)
Entered $8450, sold around $9,800 (16% profits)
Bitcoin dropped from 12k to 7k as expected (40% fall)
Perfect call on 12k weekly resistance
Bitcoin, perfect call (300% profits)
Bitcoin, bought between 6.8k - 7.3k (40% profits)
Bitcoin dropped to 3.5k as expected (40% fall)
Bitcoin, bought $6220 target $8480 (36% profits)
Educational posts:
2618 trade
Top-down analysis
How I draw the trendline
Risk management series:
~~~~~~~~~~~~~~~~~~~~~
- Chapter 1: 1% rule
- Chapter 2: How to calculate position size?
- Chapter 3: The Sweet Spot
Trade closed manually
If you have waited for a pullback to short, you can consider to close at a small profit, or can move your SL to breakeven.I have explained the reason in the group.
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.
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.