No HODLing! Scalping intraday with price action (Trade examples)
Just holding Bitcoin is a big bet on the future. Scalping intraday on the other hand can provide a regular income.
Making 2% or 3% per trade with low risk several times a day?
That is often possible scalping from the 15 min chart.
The marked trades all have tight stops with 1% - 2% risk, profit targets are always bigger than stops.
Let's look at the six trading examples in the chart, I have marked entry bars with numbered arrows:
Trade 1 - Short:
- new low expected after trendline break (also 1.leg)
- second leg down expected
- second attempt to go lower (second entry short)
Trade 2 - Long:
- second entry long from support (low of range)
- pullback to EMA expected
- target: breakeven stops of shorts (from trade 1)
Trade 3 - Short:
- short term uptrend broken + new high
- range trading expected (prices move above and below EMA)
- turned down at resistance level (11.200)
Trade 4 - Short:
- turned down at possible channel line, confirming it
- failed break higher out of tight range
- retest of lows at 10.850 + 10.700 expected
Trade 5 - Long:
- failed second entry short (second attempt to go lower after low failed)
- target at 10.200 has been reached (2. big leg down completed)
- new uptrend: target at resistance levels 10.670 + 10.900
Trade 6 - Short:
- steep uptrend broken + 2 legs to new high
- resistance at 10.900 reached
- retest of the lows at 10.200 expected because first break of big downtrend channel
- min. target: retest of upper downtrend line 10.600
What is happening right now?
Trade 6 would have been the perfect entry, because a steep downtrend emerged.
Now we had a new low after the break of that bigger channel (with a midline). T
he steeper short term downtrend has also been broken and then a new low occurred. You see the same pattern over and over again?
That means we could enter a sideways movement from here, but right now BTC is still moving below the EMA and inside the downtrend channel.
So there is still risk of getting another leg down with a target of 9.600.
Making 2% or 3% per trade with low risk several times a day?
That is often possible scalping from the 15 min chart.
The marked trades all have tight stops with 1% - 2% risk, profit targets are always bigger than stops.
Let's look at the six trading examples in the chart, I have marked entry bars with numbered arrows:
Trade 1 - Short:
- new low expected after trendline break (also 1.leg)
- second leg down expected
- second attempt to go lower (second entry short)
Trade 2 - Long:
- second entry long from support (low of range)
- pullback to EMA expected
- target: breakeven stops of shorts (from trade 1)
Trade 3 - Short:
- short term uptrend broken + new high
- range trading expected (prices move above and below EMA)
- turned down at resistance level (11.200)
Trade 4 - Short:
- turned down at possible channel line, confirming it
- failed break higher out of tight range
- retest of lows at 10.850 + 10.700 expected
Trade 5 - Long:
- failed second entry short (second attempt to go lower after low failed)
- target at 10.200 has been reached (2. big leg down completed)
- new uptrend: target at resistance levels 10.670 + 10.900
Trade 6 - Short:
- steep uptrend broken + 2 legs to new high
- resistance at 10.900 reached
- retest of the lows at 10.200 expected because first break of big downtrend channel
- min. target: retest of upper downtrend line 10.600
What is happening right now?
Trade 6 would have been the perfect entry, because a steep downtrend emerged.
Now we had a new low after the break of that bigger channel (with a midline). T
he steeper short term downtrend has also been broken and then a new low occurred. You see the same pattern over and over again?
That means we could enter a sideways movement from here, but right now BTC is still moving below the EMA and inside the downtrend channel.
So there is still risk of getting another leg down with a target of 9.600.
