Hopefully this is a capitulation point. Just read the order book and inputted stop prior to market buy. Up nicely, but unless BTC can breach 50-51K in the next couple of days, I fear I will have to try this again.
Comment:
Also why I try not to do "magic numbers" which some traders try to hold, defend or base their trading execution around. Movement will happen regardless of numbers or levels. The market is way more complex and has so many participants that the game is always changing. My most ruinous trades have always been based on "firmly held" ideas, such as static support and resistance zones where I have "gone all in."
Comment:
Also allowing "real life" to interfere with trade execution has been a bad thing mostly, such as "I need the money to do x" therefore, such and such a setup will give me x, such thinking leads to overly optimistic rationalization and lazy thinking and therefore bad trade setups. Commentary might be used for a book or whatever at some point, so if you are reading this, understand that this is part of journaling, which every trader/investor ought to practice.
Trade active:
Still in, even after this...
My thoughts are that we might be going lower...That spike down was heaviest on Bybit, other exchanges didn't record even half of this move, but often this either proceeds a rip up or a move to below the spike...
My thoughts are that we might be going lower...That spike down was heaviest on Bybit, other exchanges didn't record even half of this move, but often this either proceeds a rip up or a move to below the spike...
Stop has been moved up a couple of grand. I see serious resistance between 57K-60K and will more than likely chase with my stops a bit closer at these levels, depending on how the shape of the movements progresses.