As I see BCH right now, it really looks like it´s bottoming out and forming falling wedges on several timeframes. It also didn´t have a proper retracement since May, so we should see one in the near future. The stochastic refuses to go into oversold, so something is pushing it up.
At the moment, it is just an unconfirmed idea and we are on the resistance. If you want to play safe, you should WAIT until the break of the yellow and blue line and buy on the pullback.
The SL should also be adjusted by your risk management. Mine is on -14% (394 USD) because in this case, we are targeting huge gains of 55%, 95% and 165% (target are marked by white horizontals). Therefore we can use a smaller position and place the stop wider.
There is also coming a BCH hard fork on 15th of November. That could give BCh nice boost, too.
Please like the idea if it helped you - you will help another people to see it.
At the moment, it is just an unconfirmed idea and we are on the resistance. If you want to play safe, you should WAIT until the break of the yellow and blue line and buy on the pullback.
The SL should also be adjusted by your risk management. Mine is on -14% (394 USD) because in this case, we are targeting huge gains of 55%, 95% and 165% (target are marked by white horizontals). Therefore we can use a smaller position and place the stop wider.
There is also coming a BCH hard fork on 15th of November. That could give BCh nice boost, too.
Please like the idea if it helped you - you will help another people to see it.
Comment:
Haha, this move is exactly what I was expecting. It´s just the way crypto works. First fuck up everybody in long and then totally change the direction. As I said, I reduced the position a bit, I definitely won´t be adding here, but leaving the rest to either hit my targets or my SL.
Comment:
BCH reached the top of our wave 1, so definetely was time to take partial profits with 33% gain. It is a pitty that I closed part of the position, but it was the most rational thing to do at the moment.
Anyway - TP1 reached, we definitely made a nice profit with one of the biggest gainers out there. Time to take partial profits and move the stop higher
Anyway - TP1 reached, we definitely made a nice profit with one of the biggest gainers out there. Time to take partial profits and move the stop higher
Trade closed: target reached:
Alright, I am taking profits here and closing the trade. It was nice 40% gain and I can see that it is really dangerous on the market now.
The hard fork is on 15th, so there still can happen a lot of hype, but I don´t want to be in this one at the moment.
Congrats to everybody who followed for 40% profit!
The hard fork is on 15th, so there still can happen a lot of hype, but I don´t want to be in this one at the moment.
Congrats to everybody who followed for 40% profit!
We still didn´t hit the stop, so no worries, the trade still can go up nicely, but the risk must be managed. So decreasing position is a clear choice here.