BCHUSD Still Negative despite bounce
BCH duly had the full-flush out we were looking for, hoping to
get long around 1180 and at 1126 with a stop 'at least 10
points lower than 1124'.
The pin bar extends just below the last buy point by 23
points. If you got that low without being stopped out then you
win trader of the day award...close to perfect, but marred by
the stop - (too cautious, over-concerned with newbies joining
and trying hard to stop any big losses from occurring)
Anyway this still looks in bad shape. If long still take profits or
put a stop under 1280. It is still vulnerable to bear attacks
whilst unable to break and hold above 1376. Looks like a short
again once 1280 gives way, back to 1180 to 1100 range .
Pressure here will only lift if BCH can regain and hold on to 1376.
BCH duly had the full-flush out we were looking for, hoping to
get long around 1180 and at 1126 with a stop 'at least 10
points lower than 1124'.
The pin bar extends just below the last buy point by 23
points. If you got that low without being stopped out then you
win trader of the day award...close to perfect, but marred by
the stop - (too cautious, over-concerned with newbies joining
and trying hard to stop any big losses from occurring)
Anyway this still looks in bad shape. If long still take profits or
put a stop under 1280. It is still vulnerable to bear attacks
whilst unable to break and hold above 1376. Looks like a short
again once 1280 gives way, back to 1180 to 1100 range .
Pressure here will only lift if BCH can regain and hold on to 1376.
Comment:
Please lower stop on shorts to 1242
