hey most likely to go down, no more going up i think
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2
- #1,703
- Jun 26, 2:58am (1 hr 32 min ago) Jun 26, 2:58am (1 hr 32 min ago)
{quote} Closing at break-even as price is retracing back to my entry point. Will look for another entry.
I entered long, as my Long Criteria suggested. The massive bullish candle closing above the DP was my signal, followed by a bullish candle breaking my ChoCh level. I was expecting a retest from above 61,158. Since the two small candles were unable to push lower and close below the Day Open (DP), I took that as the retest/hold I was anticipating. The optimal entry would have been on the previous candle that closed above 60,158.
This is a counter-trend trade, so the challenge now is to break 60,700 to clear the path to the next targets.
- #1,704
- Jun 26, 3:03am (1 hr 28 min ago) Jun 26, 3:03am (1 hr 28 min ago)
{quote} I had to take a nap, but I’m back.
I won't give up.
- #1,707
- Jun 26, 3:14am (1 hr 17 min ago) Jun 26, 3:14am (1 hr 17 min ago)
- Joined Jun 2009 | Status: Trend Trader | 6,470 Posts
Hi everyone
Well done Nospace022 on the profit.
I say it jokingly every time that if you can walk away with a profit from bitcoin you have passed some trading test somewhere.
Bitcoin is an animal.
I am still bearish and so I am biased to the downside.
But I am not blind to the possibility of strong retracements.
Going into the weekend we have a breakout to the upside before NY open. What will NY bring to the table?
The whole day, so far is an inside candle (not closed yet) and there is a breakout whichever way strategy eventually attached to scenarios like this.
There is also bullish divergence on the charts.
Bullish divergences usually happen towards the end of a 5th wave of some sort and we are seeing it on the charts right now whether it is RSI or MACD.
I will also throw my EW slant into the mix.
The EW immediate conclusion for me is this:
If 62176 on this chart is taken out to the upside then it means the downmove was not motive.
And the upmove can be massive.
The general consensus right now is that price is going down.
I am wary of consensus because that is possible an 'opposite direction' indicator
If this breakout does not roar to the upside I will sell it looking for new lows - that is my plan
Hmmm
Well done Nospace022 on the profit.
I say it jokingly every time that if you can walk away with a profit from bitcoin you have passed some trading test somewhere.
Bitcoin is an animal.
I am still bearish and so I am biased to the downside.
But I am not blind to the possibility of strong retracements.
Going into the weekend we have a breakout to the upside before NY open. What will NY bring to the table?
The whole day, so far is an inside candle (not closed yet) and there is a breakout whichever way strategy eventually attached to scenarios like this.
There is also bullish divergence on the charts.
Bullish divergences usually happen towards the end of a 5th wave of some sort and we are seeing it on the charts right now whether it is RSI or MACD.
I will also throw my EW slant into the mix.
The EW immediate conclusion for me is this:
If 62176 on this chart is taken out to the upside then it means the downmove was not motive.
And the upmove can be massive.
The general consensus right now is that price is going down.
I am wary of consensus because that is possible an 'opposite direction' indicator
If this breakout does not roar to the upside I will sell it looking for new lows - that is my plan
Hmmm
If you think you can or cannot do it you are correct
- #1,709
- Jun 26, 3:31am (1 hr 1 min ago) Jun 26, 3:31am (1 hr 1 min ago)
Hi everyone Well done Nospace022 on the profit. I say it jokingly every time that if you can walk away with a profit from bitcoin you have passed some trading test somewhere.
yes and moreover it sems like the curve is accelerating to the downside.
biased short too.
as you said BTC is an animal but im very animal friendly
have a question for you, of an trade who confidence is ok and all stuf like that, waht is the average % return you made, Let me explain: I felt like I was just spinning my wheels. Until now, I hadn't increased my risk—it was at 0.1%, with average gains of 0.3%–0.5%. But now that I’m increasing the risk and size as I win and cutting it in half during a losing streak, I managed to make 2% this week—something I’d never achieved before. What do you think?Does that make sense? I'm not competing; I'm just trying to figure out if I'm taking too many risks or, conversely, if I'm still being too cautious vs average.
Personally, I really liked using this system for the week, and I feel comfortable with it.
I won't give up.
- #1,710
- Jun 26, 3:40am (50 min ago) Jun 26, 3:40am (50 min ago)
- Joined Jun 2009 | Status: Trend Trader | 6,470 Posts
If you think you can or cannot do it you are correct
- #1,711
- Last Post: Jun 26, 3:54am (36 min ago) Jun 26, 3:54am (36 min ago)
{quote} I had to take a nap, but I’m back.