Biggest resistance probably the floor of the last top. So after we break resistance of 1630, we should jump to 2370.
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buy this dip
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for this trade we are going to use a trailing stop. will update the stop lvls along the way
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Current stop lvl: 1575
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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
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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).
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bch looks very strong damn
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Sold 25% at 1800
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stop is moved up to 1640!
Trade closed: stop reached
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out
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Bought it back. First entry at 1620. Stop loss is the red dotted line
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added on the flag breakout. Stop loss now below 1600
Trade closed manually
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not feeling comfortable with this position. so i choose to close it while its in profit.