Position size maximum 20% equity . Leverage max 4x for this volatility. Current price 561USD, stop loss 503USD. Targets are 606, 636, 666, 686, 706. Liquidation of 15%, 20%, 30%, 25%, 10% at these positions respectively.
EXIT: Futures premium reach +5%, close 50% of positions. Fisher reach over 5th bar and is heading down, close 60% of positions OBV reach 38955392 close 50% of positions. OBV reach 48648733 close all positions.
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Reasoning.
1. Futures premium is at -1%, an extreme oversold value. Overbearish sentiment from the bitfinex hack. Must correct upwards in short term, even if this is part of a medium term bear trend.
2. Fisher transform, showing capitulation from the 840 euphoria high is complete or near completion.
3. On Balance Volume is at BOTTOM levels. We settled at $560 with similar cum volume levels as $440 before the entire euphoria cycle. Signals the market has reached finality and released its load.
Start with a small long position and add to this slowly as strength picks up. Watch the FUTURES PREMIUM. I will update this position.
Trade attivo
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Current price 590. Good profit so far. Continue trade.
Trade attivo
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Since the market did not even consolidate at the bottom, much more bullish than I anticipated. Change final 3 price targets to 689, 709, 739 respectively.
Trade attivo
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Continuation of trade. First target of 606 reached. 15% of position closed
Halfway of time-stop. Trade still active. Conditions good.
Commento
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Trade continue. Symmetrical triangle breakup. Note, @fontase on twitter is not me. I have reported him as an imposter
Commento
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continue
Commento
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Raise stop-loss to 583. Minimum profit if stoplossed there is 15.6% at recommended 4x leverage
Trade attivo
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Almost on target
Commento
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I have closed 65% of my position for deep profit on 4x leverage at the original first 3 target: 606, 636, 689. Raise stop loss to 636. Remaining 2 targets are 709, 739. Still open on 35% of the long position. Will close 25% and 10% at these targets respectively.
Trade chiuso: obiettivo raggiunto
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Final update. Successfully closed all positions at defined targets: 606, 636, 689, 709, 739. The return on capital for each target was 4.8%, 10.6%, 27.3%, 26.3%, 12.7%.
On the initial capital for 4x long, made a total 81.9% gain. Thank you BTC
Hello fontas! Do you have any idea about any altcoins? Would be grateful to hear your opinion! Thanks!
RELENTLESS_
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Thanks for the update. What is your outlook now for btc? If you have closed out you are obviously expecting a pullback? Should US election uncertainty not drive this a little higher in the short term?
Fontas
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I have 0 position and 0 opinion until next opportunity
grahvity
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Nice job, man.
Vagitarian
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Thanks Fontas!
Khawaja
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Good luck. Good chart.
You achieve 739$ target.
Have a good weekend.
Nice trading idea.