A simple setup to hop on a trend early and go for a ride. I like the look of this moving average crossover strategy using a 14 WMA and a 28 WMA on the 4hr chart with heiken ashi. The last 3 candles are all below both moving averages, I use that as part of the signal to screen out crossovers that are occurring when the the price is oscillating in a range, and the candle of the previous period has a single wick pointing in the direction of the trade. The stop is when the price crosses over the 28 WMA. This should keep losses limiting while at the same time allowing for the trade to remain in play for and extended price movement in the profitable direction. In at 22,864.
Trade closed: stop reached:
Stop triggered for a loss of $397. It was a risky play. The idea was to hop on a trend early and ride it for a $2000+ profit. BTC is still undecided as to what direction it will take in the coming weeks. And of course it may remain in the current range of 21800-24500.