Wyckoff Range Breakout! - Up 29.5R!
My previous analysis worked out brilliantly! Check it out here: 
System:
We're currently up 29.5R[white] and 21.5R[blue] has been locked in by the trailing stop system (as seen in the messy indicator panel below the price chart). I have been running 2% equity risk with this system so I'm sitting at a 59% ROE with 43% guaranteed on XBT alone, not to mention all of the alts on Bitmex (apart from EOS, damn wicks).
The plan is to move stops in accordance to the indicator [red line] at 4708.5 (or 4016.5 on bitmex) and trail until I get stopped out because as seen in November, I managed to catch a 57R move from that drop.
This system is not for everyone, you have to be patient and have very very strict risk management! We are in the business of catching monster waves at the cost of long periods of trade flip-flopping at breakeven or slight loss during chop. React, don't predict!
TA Observation:
With reference to Wyckoff's Accumulation Schematic #2, we have broken out of the accumulation range in a sign of strength and we will likely be consolidating for the duration of the weekend. However, if we pump during the weekend, it will form a gap in the CME and historically all gaps have been filled so do not try to hop on.
We currently have a bearish divergence in the RSI so to those who have missed the pump: be patient, we will likely pull back to retest the breakout level. I would personally layer limit orders all the way down to 4120 with my stop at 3859.
Disclaimer: I am not trading my analysis, I will be sticking to my system. Just wanted to provide some hopefully actionable insight to you guys.
Leave a like if you would like me to continue updating the stops here. Post chart requests below to see the algorithm in action in any other equity.
System:
We're currently up 29.5R[white] and 21.5R[blue] has been locked in by the trailing stop system (as seen in the messy indicator panel below the price chart). I have been running 2% equity risk with this system so I'm sitting at a 59% ROE with 43% guaranteed on XBT alone, not to mention all of the alts on Bitmex (apart from EOS, damn wicks).
The plan is to move stops in accordance to the indicator [red line] at 4708.5 (or 4016.5 on bitmex) and trail until I get stopped out because as seen in November, I managed to catch a 57R move from that drop.
This system is not for everyone, you have to be patient and have very very strict risk management! We are in the business of catching monster waves at the cost of long periods of trade flip-flopping at breakeven or slight loss during chop. React, don't predict!
TA Observation:
With reference to Wyckoff's Accumulation Schematic #2, we have broken out of the accumulation range in a sign of strength and we will likely be consolidating for the duration of the weekend. However, if we pump during the weekend, it will form a gap in the CME and historically all gaps have been filled so do not try to hop on.
We currently have a bearish divergence in the RSI so to those who have missed the pump: be patient, we will likely pull back to retest the breakout level. I would personally layer limit orders all the way down to 4120 with my stop at 3859.
Disclaimer: I am not trading my analysis, I will be sticking to my system. Just wanted to provide some hopefully actionable insight to you guys.
Leave a like if you would like me to continue updating the stops here. Post chart requests below to see the algorithm in action in any other equity.
Note
Good afternoon guys, here are my updated stops on Bitmex along with their respective guaranteed minimum results:XBTUSD: 4817 (27.4R)
ETHUSD: 161.05 (3.21R)
ADAM19: 0.00001763 (-0.12R)
BCHM19: 0.0527 (8.5R)
LTCM19: 0.0166 (5.4R)
TRXM19: 0.00000541(-1R)
XRPM19: Stopped out @ 7240 sats,-1R
EOSM19: Trade just triggered, awaiting confirmation.
Total guaranteed returns for week ending 7/4: 42.39R => 42.39 * 2% = +84.78% ROE
If any of those pairs look interesting to you or you are currently in a trade, please feel free to request in the comments below as it will help me in adjusting parameters for my algorithm. Also if you want to see where my algo entered in other pairs above just request.
Thanks for reading! :)
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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.
Related publications
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.