Some have asked me to where and how do I position larger size trades in longer time frames. The key to my trades are identifying channels and take multiple positions and be patient.
As we can see on the chart there are many channels that need to be considered and on both sides of the lines we have buys and sells. As much as cliche that it sounds, the goal is to "buy low, sell high". This could be done only by positioning ourselves within the channels.
The approach should be selling at the top of the trend line and wait for it to bottom or wait to see a breakout. And to determine if something is a break out or a fake out, or determine if the bottom of the channel will hold or not, we need to use are TA tools to solidify our calls.
Every entry point should have its stop-loss and its take profit zone before hand.
As we could at this point BTC is getting rejected by the top line. Where I saw lot of people going long as they saw BTC approaching to the line. In reality the closer you get to the line it gets harder to move towards. A break trough is not guaranteed until you break it.That is way it is crucial to be patient and wait for a break out to enter a position. Hope it helps!!
As we can see on the chart there are many channels that need to be considered and on both sides of the lines we have buys and sells. As much as cliche that it sounds, the goal is to "buy low, sell high". This could be done only by positioning ourselves within the channels.
The approach should be selling at the top of the trend line and wait for it to bottom or wait to see a breakout. And to determine if something is a break out or a fake out, or determine if the bottom of the channel will hold or not, we need to use are TA tools to solidify our calls.
Every entry point should have its stop-loss and its take profit zone before hand.
As we could at this point BTC is getting rejected by the top line. Where I saw lot of people going long as they saw BTC approaching to the line. In reality the closer you get to the line it gets harder to move towards. A break trough is not guaranteed until you break it.That is way it is crucial to be patient and wait for a break out to enter a position. Hope it helps!!