BCH LOOKS NOT SO BAD, I'LL TRY TO GO LONG
BCH BOUNCED FROM iTS SUPPORT LEVEL AND THEN SHOWED A GREAT BOUNCE FROM LOCAL R/S LEVEL. I POiNTED THAT MOMENT WiTH A CIRCLE ON THE CHART. THAT FACT FLiPPED MY SENTiMENT AND I THiNK BCH MAY RiSE TO TOUCH THE $250 RESiSTANCE. SO HERE iS MY TRADE:
RiSKY SETUP, YOU MAY LOOSE MONEY COPY-TRADiNG THAT. IT'S JUST MY IDEA AND IMAGiNATiON.DON'T BE AN IDiOT AN THiNK FOR YOURSELF
TRADE:: BCH_2
STATUS:: OPENED (TRIGGERED BY A FALSE BREAKOUT. I HAVE TO RETHiNK MY ENTRY STRATEGY!!!)
TYPE:: LONG
SIGNAL:: MFI > 50
FILTER:: PRiCE
VOLUME:: $3000
ENTRY:: 221.71
TP:: 10-15%
SL:: 1.68%
PROS::
1. HiGHER LOWS (BULLiSH)
2. SUCCESSFULLY TESTED SUPPORT
3. MFI > 50
4. OBV HEADS UP
5. NiCE BOUNCE FROM A LOCAL S/R LEVEL
CONS::
1. BTC iS GETTiNG WEAKER
2. 1H STiLL BEARISH. WE NEED TiME TO ALLOW GREEN TO GET HiGHER THAN THE ENERGY
3. WE MiGHT HAVE ANOTHER TEST OF SUPPORT (I DON'T THiNK IT WiLL BE GOOD AT ALL)
4. LOWER HiGHS (WE STiLL iN A COMPRESSION MODE, THE PRiCE MiGHT BREAK OUT IN ANY DiRECTiON)
OVERALL:: IF WE ARE iN A SiDEWAYS RANGE WE DEFiNITELY HAVE TO HIT 245-250 LEVEL. THEN iT'S REASONABLE TO FiND ANY SHORT ENTRIES. HOWEVER YOU ALWAYS SHOULD LOOK AT THE MARKET FROM THE BEAR PERSPECTIVE.
RiSKY SETUP, YOU MAY LOOSE MONEY COPY-TRADiNG THAT. IT'S JUST MY IDEA AND IMAGiNATiON.DON'T BE AN IDiOT AN THiNK FOR YOURSELF
TRADE:: BCH_2
STATUS:: OPENED (TRIGGERED BY A FALSE BREAKOUT. I HAVE TO RETHiNK MY ENTRY STRATEGY!!!)
TYPE:: LONG
SIGNAL:: MFI > 50
FILTER:: PRiCE
VOLUME:: $3000
ENTRY:: 221.71
TP:: 10-15%
SL:: 1.68%
PROS::
1. HiGHER LOWS (BULLiSH)
2. SUCCESSFULLY TESTED SUPPORT
3. MFI > 50
4. OBV HEADS UP
5. NiCE BOUNCE FROM A LOCAL S/R LEVEL
CONS::
1. BTC iS GETTiNG WEAKER
2. 1H STiLL BEARISH. WE NEED TiME TO ALLOW GREEN TO GET HiGHER THAN THE ENERGY
3. WE MiGHT HAVE ANOTHER TEST OF SUPPORT (I DON'T THiNK IT WiLL BE GOOD AT ALL)
4. LOWER HiGHS (WE STiLL iN A COMPRESSION MODE, THE PRiCE MiGHT BREAK OUT IN ANY DiRECTiON)
OVERALL:: IF WE ARE iN A SiDEWAYS RANGE WE DEFiNITELY HAVE TO HIT 245-250 LEVEL. THEN iT'S REASONABLE TO FiND ANY SHORT ENTRIES. HOWEVER YOU ALWAYS SHOULD LOOK AT THE MARKET FROM THE BEAR PERSPECTIVE.
Comment:
IT ALMOST HIT MY SL, BUT 218 REACTED AS EXPECTED LiKE A NiCE SUPPORT LEVEL. I'M STiLL HAVE MY LONG POSiTION RUNNiNG AND i'M KEEP WAiTiNG WHEN I'll BE ABLE TO MOVE MY SL TO BREAKEVEN
Comment:
IT HiT 218 AGAIN AND THiS LEVEL STILL STANDS. I DIDN'T CLOSE MY POSiTION YET, BUT I AM VERY CONCERNED ABOUT IT.
USUALLY I'D CLOSE MY POSiTiON iN A SMALL LOSS AND THEN THE TRADE WiLL GO iN THE EXPECTED DiRECTiON.
THAT HAPPENED SOO OFTEN BEFORE. I THiNK THAT'S THE THiNG HAPPENiNG RiGHT NOW. I THiNK WE BOUNCED FROM 218 TO GO RIGHT TO THE 240-250 LEVEL.
HOWEVER T'S TIME TO LOOK FOR A SHORT TRADES
USUALLY I'D CLOSE MY POSiTiON iN A SMALL LOSS AND THEN THE TRADE WiLL GO iN THE EXPECTED DiRECTiON.
THAT HAPPENED SOO OFTEN BEFORE. I THiNK THAT'S THE THiNG HAPPENiNG RiGHT NOW. I THiNK WE BOUNCED FROM 218 TO GO RIGHT TO THE 240-250 LEVEL.
HOWEVER T'S TIME TO LOOK FOR A SHORT TRADES
Comment:
CLOSED MY POSiTiON iN A SMALL $15 LOSS. PRiCE TRiED TO BREAK ABOVE, BUT THE MOMENTUM I WAS HOPiNG FOR iS GONE NOW
Comment:
I'VE PLACED MY BUY ORDER ABOVE 222 LEVEL, SiNCE THAT'S THE REAL LEVEL OF RESiSTANCE. I WiLL WATCH AT OBV TO MAKE SURE WE HAVE A REAL VOLUME BEHiND THiS POTENTiAL UPWARD MOVE
Comment:
RE-ENTERED THE TRADE AT 223
Comment:
THAT'S EXACTLY WHAT I WAS EXPECTiNG
