4 Ways to Trade Bitcoin!
Updated
Hello my small TV community!
Today I've prepared a chart where I will be showing you my approach to current Bitcoin price action and how I usually trade.
I love to trade ranges as I have a lot success with them, not only with Crypto assets.
Usually I am not opened to all four trades, (usually I just follow the trend, when the overall trend is uptrend I just look for buy opportunities) but this time it's different.
Why it's different?
Because Bitcoin is saying that the overall daily trend is a downtrend, meanwhile the overall weekly trend is an uptrend so I am opened to all of these four trades! Mixed signals.
I only look to buy or sell at the edges of the range, I never enter a trade in the middle of the range. I wait for a better opportunity, rather than taking a bad one. (Even if it would lead to a profit!)
Which one is your favorite, or which one will you be taking? Let me know.
Today I've prepared a chart where I will be showing you my approach to current Bitcoin price action and how I usually trade.
I love to trade ranges as I have a lot success with them, not only with Crypto assets.
Usually I am not opened to all four trades, (usually I just follow the trend, when the overall trend is uptrend I just look for buy opportunities) but this time it's different.
Why it's different?
Because Bitcoin is saying that the overall daily trend is a downtrend, meanwhile the overall weekly trend is an uptrend so I am opened to all of these four trades! Mixed signals.
I only look to buy or sell at the edges of the range, I never enter a trade in the middle of the range. I wait for a better opportunity, rather than taking a bad one. (Even if it would lead to a profit!)
Which one is your favorite, or which one will you be taking? Let me know.
Note
To add a Stop loss.I usually decide on the size of the stop loss by the profit target.
So if I look to make 9% on a trade for example, the stop loss would be 3%.
So the Risk reward is always around 3:1.
Trade active
I've got into the 2. way, to buy the support bought at $42500 looking to TP below $45800.Trade closed: stop reached
2. Way sl got hitTrade closed: target reached
4. way to sell the break was triggered and profit has been reached! One for one!
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