BTC 2 Scenarios and how you should trade in this market !!
Updated
First of all for who took the last trades with me,
We have bought LSK,ADA,BTC, and ETH 2 days ago.
Today i mentioned that i will close all my positions with the same entry price or a small profit "1-3%".
After that by a couple of hours market went up little bit.
Actually i don't feel wrong at all and if that happened again i would close them again.
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I will tell you about my strategy.
Most of time I have predefined patterns and scenarios, if i said that i will buy @ 100~110 then i know that this area is a very strong then there will be 3 scenarios available:
1- Price will go up and wouldn't touch our buy zone , then it's fine i will wait for another buy opportunity
2- Price will go down and touch our buy zone then it forms a specific pattern indicating that it will continue, (this is the best scenario) then we will move our SL above entry point then this trade became a free risk trade.
3- Price will go down and touch our buy zone and stay around it or break it and retest it again, (If a specific conditions i determined before hasn't achieved, i manually close the trade at almost entry price or with a very small profit/loss). After that i don't care where the price will go, i wait for another entry.
By this method we can eliminate the risk in this volatile market. By the way in all cases we have a predefined SL but SL isn't a number, it's a pattern.
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For BTC (By the way many alts against USD forms the same pattern)
we have a very critical support point (8180) if Price kept over 8180 till 16th May, So most probably we can say that the correction has ended and we may reach 11Ks again or at least 9900 , But if it failed, then i can only make some scalping trades because we may see lower prices 7Ks or 6Ks. (If that happened i will update that later)
Just watch the green area, if price is able to stay inside it, then most probably we will enter the market again at the same prices we closed at, Also if the price was higher i don't mind because i'm here as a trader not investor.
For my core holdings i never sell them. Here we are talking about our trades.
So suppose that you have 2 trades
Trade 1 : Entry = 500 , TP=700 , and SL=250
Trade2: Entry =550, TP = 700, and SL=500
Which one you will take ??
Sure you will select the second one but the profit is less that Trade 1 ?? why ?? that's because having a small SL is the power here not having a good TP only, because all trades may hit TP or SL. this is the market
In conclusion, from now till 16th May i will stay neutral in the market until i get a confirmation it's up or down? in my opinion, i think it will go up but we need to watch and see.
Questions are welcome,
I almost reply to all of Private messages but please comment on the post itself instead of PM for related questions so that many traders can learn.
We have bought LSK,ADA,BTC, and ETH 2 days ago.
Today i mentioned that i will close all my positions with the same entry price or a small profit "1-3%".
After that by a couple of hours market went up little bit.
Actually i don't feel wrong at all and if that happened again i would close them again.
____________________________________________________________________
I will tell you about my strategy.
Most of time I have predefined patterns and scenarios, if i said that i will buy @ 100~110 then i know that this area is a very strong then there will be 3 scenarios available:
1- Price will go up and wouldn't touch our buy zone , then it's fine i will wait for another buy opportunity
2- Price will go down and touch our buy zone then it forms a specific pattern indicating that it will continue, (this is the best scenario) then we will move our SL above entry point then this trade became a free risk trade.
3- Price will go down and touch our buy zone and stay around it or break it and retest it again, (If a specific conditions i determined before hasn't achieved, i manually close the trade at almost entry price or with a very small profit/loss). After that i don't care where the price will go, i wait for another entry.
By this method we can eliminate the risk in this volatile market. By the way in all cases we have a predefined SL but SL isn't a number, it's a pattern.
____________________________________________________________________
For BTC (By the way many alts against USD forms the same pattern)
we have a very critical support point (8180) if Price kept over 8180 till 16th May, So most probably we can say that the correction has ended and we may reach 11Ks again or at least 9900 , But if it failed, then i can only make some scalping trades because we may see lower prices 7Ks or 6Ks. (If that happened i will update that later)
Just watch the green area, if price is able to stay inside it, then most probably we will enter the market again at the same prices we closed at, Also if the price was higher i don't mind because i'm here as a trader not investor.
For my core holdings i never sell them. Here we are talking about our trades.
So suppose that you have 2 trades
Trade 1 : Entry = 500 , TP=700 , and SL=250
Trade2: Entry =550, TP = 700, and SL=500
Which one you will take ??
Sure you will select the second one but the profit is less that Trade 1 ?? why ?? that's because having a small SL is the power here not having a good TP only, because all trades may hit TP or SL. this is the market
In conclusion, from now till 16th May i will stay neutral in the market until i get a confirmation it's up or down? in my opinion, i think it will go up but we need to watch and see.
Questions are welcome,
I almost reply to all of Private messages but please comment on the post itself instead of PM for related questions so that many traders can learn.
Note
As you can see price went back to our sell point but as i told before i will not buy here.Note
Can you see the power of the Star Price is still in our area 2 days ago and also it works around our drawn lines !!
Note
Now i'm waiting for the price break when i will buy at 16th May as i told before.Stay tuned for updates
Note
And it's finally May 16th and the price just went out of our mentioned zone. and this is the update 
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