So You Want to Catch A Falling Knife Part 3
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This is a continuation of Part 2 where we bought in at 7337 from the recent fall from 1200 area.
It seems that I'm very much in sync with the market right now - I'm not saying I'm always right but my calls have been bang on so far so lets take advantage of this while it last.
First thing - trade at your own risk, I employ strong money management in my ideas. Money management is more important than getting it right or wrong in the trade, especially for new traders. Follow the ideas closely because I move my stops to lock in profits and limit risk.
If you have been following me, from the start, you have bought in at 7337. I had a lot of request for how to get in if you missed this entry and I advised 8300.
Set your stop at 8100 to lock in profits and limit losses.
I have mapped out the major resistances that we will have to pass to confirm a long term up-trend. Although we have profits locked in, the ultimate goal is to have a long term position in BTC, thus WE ARE STILL IN THE WOODS! Don't let your guard down one bit.
Link to part 2 below.
Here is a summary of what has happened so far, I hope new traders can get some insight on the thought process of trading and looking for setups from this.
1. March 11: A High level view of an up-coming opportunity to catch the knife at the low 7000s area
2. March 15: Identified a Falling Wedge Formation
3. March 16: Signaled to buy when the price hits the bottom of the wedge (which we published to buy at 7337)
4. March 20: Signaled to buy the breakout of the flag on the upside if you missed the wedge entry
5. March 21: Forecasted a Pullback to the 8300 Levels and signaled a buy at 8300 for the ones that missed the trade
We are now here:
Trade with care.
It seems that I'm very much in sync with the market right now - I'm not saying I'm always right but my calls have been bang on so far so lets take advantage of this while it last.
First thing - trade at your own risk, I employ strong money management in my ideas. Money management is more important than getting it right or wrong in the trade, especially for new traders. Follow the ideas closely because I move my stops to lock in profits and limit risk.
If you have been following me, from the start, you have bought in at 7337. I had a lot of request for how to get in if you missed this entry and I advised 8300.
Set your stop at 8100 to lock in profits and limit losses.
I have mapped out the major resistances that we will have to pass to confirm a long term up-trend. Although we have profits locked in, the ultimate goal is to have a long term position in BTC, thus WE ARE STILL IN THE WOODS! Don't let your guard down one bit.
Link to part 2 below.
Here is a summary of what has happened so far, I hope new traders can get some insight on the thought process of trading and looking for setups from this.
1. March 11: A High level view of an up-coming opportunity to catch the knife at the low 7000s area
2. March 15: Identified a Falling Wedge Formation
3. March 16: Signaled to buy when the price hits the bottom of the wedge (which we published to buy at 7337)
4. March 20: Signaled to buy the breakout of the flag on the upside if you missed the wedge entry
5. March 21: Forecasted a Pullback to the 8300 Levels and signaled a buy at 8300 for the ones that missed the trade
We are now here:
Trade with care.
Nota
So far so good, we are holding the price above the wedge.It's bad news bears for us if we see it go back in.
Nota
This is showing us a more complex correction than expected.Like I said don't let your guard down.
I'm moving my stop loss 50 points lower to 8050 because of the follow possible bullish scenarios.
Nota
morning update.I'm watching to see how the price unfolds.
There is a decrease in selling volume. I'm looking for something like this...
Trade chiuso: stop raggiunto
We are stopped out of the trade by either a small profit or a small loss depending on when you entered.I will wait in the sidelines for the next entry.
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