BCH Entry 3.5:1

Inspired by DLavrov Bitcoin Cash Entry Level


If BCH breaks above 1615 then I expect it to:

Stay within the 3:1 Gann Fan, BCH to find resistance at the .618 Fib (1780) first target
Find major resistance near where the the 2:1 Gann Fan meets the .786 (2035) second target.

Keep an eye on the proximity to the 2:1 Gann fan, if BCH approaches this line more quickly, the second target might have to be adjusted downward.

The 4:1 Gann fan can be used to adjust your stop over time, which will increase your R:R

Comment:

Link to Dlavrov's chart doesn't seem to have worked. Here is take two:

Comment:

Just about hit our first target with 1777; if you had a take profit set for 1780 and missed your partial take profit, I'd recommend adjusting it to 1825-ish, which is where the next bump against the Gann Fan is likely to happen.

Trade closed: stop reached:

Stop of 1496 reached. Since I hit my partial partial take profit target 1, I ended the trade slightly up.

I'll be looking for a new entry point on this coin and will post a new chart if I see one.

Hope you all are protecting your money with stop-loss orders. It's always better to lose a little than a lot.