LONG-
-Overall Uptrend
-Bounce with follow through
-ascending triangle- BULLish
-BULLish Stoch
-BULLish RSI
-BULLish MACD
-huge wick on Bottomed out candle- shows BULLish Buying. Even thou the volume indication is red, it really has a large amount of volume due to BULL buying. BULLs showing up.
Cons
- you could argue the pattern is currently forming is a raising wedge- which is a BEARish indication
- BTC Correction is probably not complete yet. If I was a large whale going SHORT, I would not stop the beat down yet, as I feel that there is more room to go south. Especially, when much less people will be watching/trading over Christmas and Holidays. Thin Volume can make price move quickly.
-Overall Uptrend
-Bounce with follow through
-ascending triangle- BULLish
-BULLish Stoch
-BULLish RSI
-BULLish MACD
-huge wick on Bottomed out candle- shows BULLish Buying. Even thou the volume indication is red, it really has a large amount of volume due to BULL buying. BULLs showing up.
Cons
- you could argue the pattern is currently forming is a raising wedge- which is a BEARish indication
- BTC Correction is probably not complete yet. If I was a large whale going SHORT, I would not stop the beat down yet, as I feel that there is more room to go south. Especially, when much less people will be watching/trading over Christmas and Holidays. Thin Volume can make price move quickly.
Trade active
Trade closed: stop reached
Look out below-Ended up being a Rising Wedge that wasn't fully formed yetMore annoying is when, I can not move up trailing stop due to life. And instead of ending with small profit, or even, I end with small loss. Expensive play date with kids. :(
The difference between the greats and the average is profit taking. I'll get there ;)
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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.