After the last Up squeeze, BTC/USD is currently moving on a relief (retracement) movement.
It respected perfectly 8355 pivot level (resistance) to bounce down and now is about to face the Overall trendline which can be considered now a support level (was a resistance).
If it can bounce back up from the Support level (around 8150) I would definitively take a long position with a tight stop Loss. (Manage risk before all)
If it never reaches back 8150 level, then no trade
Timeframe 4 hours
MT Alberto
It respected perfectly 8355 pivot level (resistance) to bounce down and now is about to face the Overall trendline which can be considered now a support level (was a resistance).
If it can bounce back up from the Support level (around 8150) I would definitively take a long position with a tight stop Loss. (Manage risk before all)
If it never reaches back 8150 level, then no trade
Timeframe 4 hours
MT Alberto
Trade attivo:
Our Entry Point is still Valid (As we said, we faced a retracement and seems we are bouncing back Up to take our entry point.
Trade attivo:
Still valid our entry point
Trade attivo:
Target 1 Reached at 8350 zone (took it at 8500)
Now looking for Target 2 875
I would expect a retracement before it continues to the UP
Looking good our trade
Now looking for Target 2 875
I would expect a retracement before it continues to the UP
Looking good our trade
Trade attivo:
Now that at least Target 1 was reached, a good risk management would mean:
Don't turn a green trade into a red trade, which means, closing the position if price come back to entry point so at this time we are just trading with FREE money, else keep the position open to reach our next targets.
Don't turn a green trade into a red trade, which means, closing the position if price come back to entry point so at this time we are just trading with FREE money, else keep the position open to reach our next targets.
Trade attivo:
Target 1 and Target 2 reached....
Next step target 3. Close if it comes back to Entry point.
Target 4 maybe you can put 10K (psychological level)
Next step target 3. Close if it comes back to Entry point.
Target 4 maybe you can put 10K (psychological level)
Trade attivo:
Target 3 Reached: Our Original trade with T3 at 9000 was reached.
Now we are expecting 10k to be reached
Now we are expecting 10k to be reached
Trade attivo:
We got almost our T4
Remember in this position we are already in BIG profit so we are not risking any money from our pockets.
Options to close your remainig position
1. If it comes below 9000 level
2. If it comes back your Target 2
3. If it comes back to your Target 1.
I would personally close it if it comes back to my Target 1.
This is a winner no matter what and it has been a great trade
MT Alberto
Remember in this position we are already in BIG profit so we are not risking any money from our pockets.
Options to close your remainig position
1. If it comes below 9000 level
2. If it comes back your Target 2
3. If it comes back to your Target 1.
I would personally close it if it comes back to my Target 1.
This is a winner no matter what and it has been a great trade
MT Alberto
Trade attivo:
It never came back to Target 1
Still my T4 is 10K pyschological level.
I would take remaining balance at that point.
Still my T4 is 10K pyschological level.
I would take remaining balance at that point.
Trade attivo:
Still Opened, waiting trade to reach our T4 or close if back to Target1
Trade attivo:
BTC back above 9000 Level
Kepp it open
Kepp it open
Trade attivo:
Still our T4 is 10K level :)
Trade attivo:
As expected, 10k level is being so hard to reach (extremely psychological level). Currently BTC/USD is in the middle of the all time high. Lets wait for our T4 at 10K.
Why is being so difficult to reach 10k? Mostly because people are taking profits (they are happy with what they profit, normally they would bought at 6k, 7k level and selling already). Too many people taking profits at this level make the price to stop rallying but on the other side, once the price pass 10k, new buyers will come.
Why is being so difficult to reach 10k? Mostly because people are taking profits (they are happy with what they profit, normally they would bought at 6k, 7k level and selling already). Too many people taking profits at this level make the price to stop rallying but on the other side, once the price pass 10k, new buyers will come.
Trade attivo:
We are back to our T3 which is ok.
Remember, we are playing with free money already so we can allow Big retracement as we already took 3 targets.
I will keep the plan for T4 and only close it if come back to T1
Remember, we are playing with free money already so we can allow Big retracement as we already took 3 targets.
I will keep the plan for T4 and only close it if come back to T1
Trade attivo:
Seem retracement is over so we can continue the rally Up
Keep trade open to get our T4 @10K
Keep trade open to get our T4 @10K
Trade attivo:
Remember to close your remaining position if it is back to T1
Trade chiuso: obiettivo raggiunto:
Our price reqched bqck T1 so we closed it
We got T1, T2 and T3 for a great trade
We got T1, T2 and T3 for a great trade