[Red Apple] "SHORT but good for short trading"_BTC/USD_18.08.28
Updated
There was breakout of triangle that i commented. recommended that take short profits in previous idea. i still keep SHORT position but this market is good for short trading
Then, Let's analysis BTC
If you are busy, you can just read below briefly
'A. Briefing '
'D. Summary and Strategy'
before read, click '+Thumb up, +Follow' :-)
A. Briefing
. Bullish Engulfing Candle on daily candle
. Reversal based on Dow theory
. Indicators showing over-bought
B. Daily Chart
a. Candle
Bullish Engulfing Candle
b. EMA
a) reverse order
b) candle is staying over 50EMA
c. Indicators
a) Stochastic, CCI : overbought
b) MACD : under 0 but golden cross, (+)histogram
c) ADX+DI : mixing status but +DI is going up
d. Sum.
There is possible to be in corrective phase due to indicators>
C. 4H Chart
a. EMA
all EMAs are in the right order
b. Pattern
a)
breakout upward -> retrace -> up
c. Fibonacci
penetrate 0.382 was penetrated and then, candle is supported by it.
e. Sum.
There is positive signals such as Dow theory, breakout of the pattern, EMA's right order and break 0.382.
D. Summary and Strategy
There are good signals for bullish market but i still concern about volume and indicators.
At the moment, there are 2 scenarios. wish moving like blue line
a) For aggressive trader : red horizontal line just above chart is support line. if it is supported, possible to buy BTC. (still recommend that take short profits)
b) For conservative trader : frankly, recommend buy after breakout of all-trend lines up there.(reasons : overbought on indicators and low volume)
Still importance lines are $6900~$7000 and $6200. focus on these line.
Trade with your standards.
if i catch buy signal and something special, 'll comment
If you got help from my idea, "+Thumb up, +Follow" .
Thanks. :)
Then, Let's analysis BTC
If you are busy, you can just read below briefly
'A. Briefing '
'D. Summary and Strategy'
before read, click '+Thumb up, +Follow' :-)
A. Briefing
. Bullish Engulfing Candle on daily candle
. Reversal based on Dow theory
. Indicators showing over-bought
B. Daily Chart
a. Candle
Bullish Engulfing Candle
b. EMA
a) reverse order
b) candle is staying over 50EMA
c. Indicators
a) Stochastic, CCI : overbought
b) MACD : under 0 but golden cross, (+)histogram
c) ADX+DI : mixing status but +DI is going up
d. Sum.
There is possible to be in corrective phase due to indicators>
C. 4H Chart
a. EMA
all EMAs are in the right order
b. Pattern
a)
breakout upward -> retrace -> up
c. Fibonacci
penetrate 0.382 was penetrated and then, candle is supported by it.
e. Sum.
There is positive signals such as Dow theory, breakout of the pattern, EMA's right order and break 0.382.
D. Summary and Strategy
There are good signals for bullish market but i still concern about volume and indicators.
At the moment, there are 2 scenarios. wish moving like blue line
a) For aggressive trader : red horizontal line just above chart is support line. if it is supported, possible to buy BTC. (still recommend that take short profits)
b) For conservative trader : frankly, recommend buy after breakout of all-trend lines up there.(reasons : overbought on indicators and low volume)
Still importance lines are $6900~$7000 and $6200. focus on these line.
Trade with your standards.
if i catch buy signal and something special, 'll comment
If you got help from my idea, "+Thumb up, +Follow" .
Thanks. :)
Note
If there is a buy signal from purple box, 0.382 and red horizontal line, aggressive traders can buy BTC with setting stop-loss.
Always keep your stop-loss and take short profits in this time.
Note
There is Bullish Engulfing Candle on 4H.As my idea, BTC is moving sideways.
keep your standards for safe trading.
Note
it's forming Flag or Pennant.
If you bought BTC after Bullish Engulfing Candle, you can set stop-loss fluidly as per breakout of the patterns or set stop-loss around $6800.
Set your strategy and keep your stop-loss.
Note
at the moment, i concern about 1 more thing. CCI's movement is quite similar with past.
Be careful in this similar case.
Note
It went to $7120~!. purple box is short profit range and if it falls down, check whether it is supported upper side of flag or not.
This is the end of the briefing.
if you got help, click +Thumb up, +Follow.
Thanks.
Note
1 more comment.
recommend that take short profit when the trend line(red) on 30M is broken and then, wait from up there(about $7150~$7200). it is just a little different %.
no need to take risky.
real last comment~ :-)
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