Bitcoin: Short Signal
Updated
Hello traders
This short signal is justified by a few elements:
- Signal from my algo framework
- Everyone being extremely bullish
- My cab driver yesterday asking me if he should buy Bitcoin or not
- Went too high too fast (too furious) - and what goes up must come down (some call that mean reversion or Fibonacci retracement)
Entry Zone
Aiming for a pullback around 10300. Aiming for a zone always, aiming for a specific price is dumb and rarely work
That's why I set ladder limit orders, always.
Take Profit
Around the SMA weekly/monthly, you'll see below.
Keep in mind they're dynamic and moving.
Right now (February 13th) they're around 8700 USD
Stop Loss
You won't see any stop loss level on my chart because they're managed by an indicator.
When stopped out, the chart will display a brown vertical bar that I call "hard exit" or "invalidation"
I did set the hard exit so that to exit with a small loss most of the time. And helping me holding onto winners for much longer
I'll update this thread if the trade will be invalidated.
Best regards
Dave
This short signal is justified by a few elements:
- Signal from my algo framework
- Everyone being extremely bullish
- My cab driver yesterday asking me if he should buy Bitcoin or not
- Went too high too fast (too furious) - and what goes up must come down (some call that mean reversion or Fibonacci retracement)
Entry Zone
Aiming for a pullback around 10300. Aiming for a zone always, aiming for a specific price is dumb and rarely work
That's why I set ladder limit orders, always.
Take Profit
Around the SMA weekly/monthly, you'll see below.
Keep in mind they're dynamic and moving.
Right now (February 13th) they're around 8700 USD
Stop Loss
You won't see any stop loss level on my chart because they're managed by an indicator.
When stopped out, the chart will display a brown vertical bar that I call "hard exit" or "invalidation"
I did set the hard exit so that to exit with a small loss most of the time. And helping me holding onto winners for much longer
I'll update this thread if the trade will be invalidated.
Best regards
Dave
Trade closed manually
Invalidated by the hard exit signalStopped out at breakeven/entry price
⭐️ Listed as TradingView Trusted Pine Programmer
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
📧 Coding/Consulting Inquiries: dave@best-trading-indicator
Telegram: Daveatt
⏩ Course: best-trading-indicator.com
Twitter: twitter.com/bti_trading
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