Broke downtrend and formed a triangle after a small leg upwards. 1030 was the confirmation for bch to start the new trend. Safe to go long with stoploss below bottom triangle. Targets are displayed on the chart (.32 and .618 fib). risk is 10%, potential gain is 20-40%.
Good luck
Good luck
Trade active:
added some to my long at 1098. Heres a clear overview of the current trend
Trade closed manually:
T1 missed by a few %, but closed most here. expecting a pullback to around 1100s
Comment:
Breaking above 1100 will trigger a new long
Trade active:
long triggered, stop loss 1050. target to be announced
Comment:
closed partial here, looks very overextended
Trade active:
i can see bch moving further up to double top atleast. gotta watch how it react to the resistance at 1200. we might break through and shoot for a higher target. stop loss is 1061
Comment:
Heres an updated overview. The buy areas got hit, but it did go outside the channel. At first you'd say that this could have been a change of trend, and it usually is when it leaves a channel. However look at the pullback, and the reaction after that. The selloff had little volume and couldnt even break the low of the first breakout. This is an indication of a trap or fakeout. The smartest thing to do is wait till it happens and when the price goes back up inside the channel, buy back in with the stop loss below the low of the breakout, which was 1050. Right now i would say that the trend is still bullish and we should resume uptrending for the next couple of days untill the next time we leave the channel.
Trade active:
First target will be 1200. close above the last swing high and we go for a 1.618 ext to 1275.
Trade closed manually:
i closed my long at 1144. 20$ loss