Reasons why I will enter a long position using a LIMIT ORDER when price retraces back into the consolidation zone:
1. Valid break-out pattern with a clear consolidation zone 2. Smaller time frame patterns have reach upside targets 3. High return on investment (193%) with 16:1 risk/reward 4. Buy low / sell high
Enjoy.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
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Ensure stop in place while BTC retracts
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Almost reached profit target. Trail stops to lock in profit
Trade closed: target reached
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Taking profit on 75% of position leaving the rest as free trade (stop @ BE)