A potential breakout
Updated
Hey traders,
all is in the chart. I will take a long position here before the breakout. In case there is no breakout, I will stop immediately. However, I have to warn you: This is a greedy approach since I dont wait for neither re-test or breakout candle.
On the other hand, the accumulation toward the downtrend always make me confident about breakout. Hence, My strategy will be like this:
Now: 25% of my wallet
Breakout Candle: 25% of my wallet to increase position size
Re-test: 50% of my wallet.
That means, I will increase my position size by two times if everything goes perfectly fine.
Stay safe.
all is in the chart. I will take a long position here before the breakout. In case there is no breakout, I will stop immediately. However, I have to warn you: This is a greedy approach since I dont wait for neither re-test or breakout candle.
On the other hand, the accumulation toward the downtrend always make me confident about breakout. Hence, My strategy will be like this:
Now: 25% of my wallet
Breakout Candle: 25% of my wallet to increase position size
Re-test: 50% of my wallet.
That means, I will increase my position size by two times if everything goes perfectly fine.
Stay safe.
Trade active
I am in.Trade closed: stop reached
I got stop loss. I believe, it is my mistake that I didn't take volume into account. Of course, I can not know such a big wick and a stop hunt from BTC, however, I could have deducted that the breakout was weak due to the low volume.
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.