Biggest resistance probably the floor of the last top. So after we break resistance of 1630, we should jump to 2370.
Comment:
buy this dip
Trade active:
for this trade we are going to use a trailing stop. will update the stop lvls along the way
Trade active:
Current stop lvl: 1575
Trade active:
actually i feel like i moved my stop up to quick. BCH may need some more wiggle room in this first phase of the breakout. Not sure yet so doing some extra analyses
Comment:
Back tested a little bit, and it seems that it is normal for BCH to pull back to the tenkan line, but it does not break the Kijun line normally in a pump. There were some spikes in the history that went through it that was considered a fakeout but our stop of 1575 is well below the Kijun with volatility considered. If we are in a W5 we could revisit the low of wave 4. which is around 1450. So mind your risk management. if your position size is too big i would suggest placing stop at 1575. if not you can keep stop below the low of the last consolidation (1420).
Trade active:
bch looks very strong damn
Comment:
Sold 25% at 1800
Trade active:
stop is moved up to 1640!
Trade closed: stop reached:
out
Trade active:
Bought it back. First entry at 1620. Stop loss is the red dotted line
Trade active:
added on the flag breakout. Stop loss now below 1600
Trade closed manually:
not feeling comfortable with this position. so i choose to close it while its in profit.