Trading-Guru

BCH/USD 2nd Great Buy Opportunity in Parallel Ascending Channel

Long
COINBASE:BCHUSD   Bitcoin Cash / U.S. Dollar
When looking at a pair that has a positive bullish momentum, we get the risk of entering out of FOMO. In this idea I will explain to you how you can overcome this emotion and where to find rational positions to enter.

We recently made use of this ascending channel to get some fantastic returns:
In this trade we can use this channel again, for a second bullish trade.

Make sure that you don't enter when the price is really high and hasn't retraced yet. For instance, keep an eye on the RSI and don't buy when it's above ~70.

Here in this parallel channel we can see that currently we have a nice opportunity for a buy, because the price is reaching the bottom support line of the channel.

This is a great moment to enter Bitcoin Cash in this bullish market.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
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Comments

Thanks.
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I will be posting more of these regularly, so follow me to find out about great trading opportunities
Reply
How would you have charted this? Feel free to post a link to your own idea here as well
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I’m curious to hear your thoughts! Let’s make use of the fantastic tradingview community and give each other feedback.
Reply
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