A short-term long looking for a repetitive pattern.
We are looking for buying target (green label), were price should rebound on 34 EMA & trendline , while RSI should retest new low.
Our targets are red-labeled and are not a "hard number", and should be adjusted to market conditions, same for buying point.
Stoploss under trend line , not too tight.
We are looking for buying target (green label), were price should rebound on 34 EMA & trendline , while RSI should retest new low.
Our targets are red-labeled and are not a "hard number", and should be adjusted to market conditions, same for buying point.
Stoploss under trend line , not too tight.
Trade active:
Buying targets reached.
I'm trading this in bitfinex and okcoin quarterlies.
buying points:
okcoin futures: 980. Margin x4. Stop loss ~955 (potential loss ~10%). Take profit 1050 and 1100 (potential profit ~40%).
bitfinex: 935. Margin x2. No stop loss (just added to my core long), at least not a short-term stop-loss. Take profit 1020 and 1040 (potential profit ~20%)
I'm trading this in bitfinex and okcoin quarterlies.
buying points:
okcoin futures: 980. Margin x4. Stop loss ~955 (potential loss ~10%). Take profit 1050 and 1100 (potential profit ~40%).
bitfinex: 935. Margin x2. No stop loss (just added to my core long), at least not a short-term stop-loss. Take profit 1020 and 1040 (potential profit ~20%)
Comment:
This charting nailed it so far.
Comment:
Another chart in different timeframe with more similarities to prior shakeout+breakout (those not signaled in the above chart)
Comment:
Target 1 reached in okcoin quarterlies.
50% of position closed at 1050 (+28% profit)
50% of position closed at 1050 (+28% profit)
Comment:
Playing out great, we need one more push up to reach all targets.
Check this rsi analysis. Daily candles.
I labeled prices of bitcoin on each significant point.
Check this rsi analysis. Daily candles.
I labeled prices of bitcoin on each significant point.
Comment:
Added stops on profits
okcoin quarterlies: 1035 (~5% higher than buying point, 20% profit after margin)
bitfinex: 980 (~5% higher than buying point, 10% profit after margin)
okcoin quarterlies: 1035 (~5% higher than buying point, 20% profit after margin)
bitfinex: 980 (~5% higher than buying point, 10% profit after margin)
Comment:
Target 1 in bitfinex reached.
50% of position closed at 1020.
50% of position closed at 1020.
Comment:
Target reached in okcoin, closed manually in bitfinex.
Closing prices were:
Okcoin quarterlies - 1099
Bitfinex - 1027
So the summary of this trade is the following:
Okcoin quarterlies
Entry point: 980
Margin used: x4
Closing points: 1050 (50%) and 1099 (50%)
Total profit: ~38.5% net profit
Bitfinex
Entry point: 935
Margin used: x2
Closing points: 1020(50%) and 1027 (50%)
Total profit: ~19% net profit
Maybe we can see once again the same repetitive pattern?
I'm looking for new buying targets (okcoin quarterlies ~1040), check this:
Will post a new idea if targets are reached and trade initiated
Target reached in okcoin, closed manually in bitfinex.
Closing prices were:
Okcoin quarterlies - 1099
Bitfinex - 1027
So the summary of this trade is the following:
Okcoin quarterlies
Entry point: 980
Margin used: x4
Closing points: 1050 (50%) and 1099 (50%)
Total profit: ~38.5% net profit
Bitfinex
Entry point: 935
Margin used: x2
Closing points: 1020(50%) and 1027 (50%)
Total profit: ~19% net profit
Maybe we can see once again the same repetitive pattern?
I'm looking for new buying targets (okcoin quarterlies ~1040), check this:
Will post a new idea if targets are reached and trade initiated
