Intersection bitcoin trade setup

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
-Short if the hourly candle close below 188.
-Take a long position if the candle close above 209.

Stops are placed right at the center of the consolidation triangle. Either direction that bitcoin             choose to go should guarantee equal risk reward.

** Be patient on your entry! Watch out for throwovers, or fakeouts.
lowstrife LastBattle
The coinbase news and everything are causing a pure FOMO rally... unbelievable.

Repeat of Nov 17th 2013 is possible. IDK how this can sustain for another 16 hours until tomrrow
+2 Reply
LastBattle lowstrife
I sold everything already... not sure how this will continue, but I'm expecting another LTC on huobi like pump. (where LTC gets dumped immediately when its out.)

4 hour is way overbought with RSI a 84
+1 Reply
Taken 70% profit here. Looking seriously overbought.
+1 Reply
LastBattle LastBattle

265 max.
+1 Reply
Stops moved to 215
Stops moved to 207. One more leg and it'll be moved to break even level.
Like that are couple others to add:

Originally, wanted to look short from 207 area bc that DL at 212 is like 4/5 bucks away for potential $15 dollar gain to next DL 190. I'll take that trade all day.

Now, that has turned into this: Can see alllllmost hit 190 target (low wick was 192) so potentially could call it close enough, and in any event up 10-15 on that trade 2x - 2.75x r;r. You have almost same thing here -- few bucks of upside to stop out, or same target, down 190, 3-4 up or 8 down, so close to 2x r;r.

+1 Reply
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