Time to put our Bear Hat on...we appear to be setting up for an Inverse Head And Shoulders pattern. I will talk more about this in a later post
the significance of this. For now, our Game Plan is to see if this trade plays out to test if what I am seeing in the Future is correct.
You can enter now if you don't mind a litle bit more risk (+/-$50) but ideally when it crosses =>$4,800 Ideal short entry is when price enters the Pink Zone.
Stops are tight as taking a small loss if not in harmony with the Market is negligible, with the potential of an R:R of 4.7:1
Yet another trade where the majority will be uncomfortable taking but hey I'm not looking to win a popularity contest.
Sean Vengan
Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
the significance of this. For now, our Game Plan is to see if this trade plays out to test if what I am seeing in the Future is correct.
You can enter now if you don't mind a litle bit more risk (+/-$50) but ideally when it crosses =>$4,800 Ideal short entry is when price enters the Pink Zone.
Stops are tight as taking a small loss if not in harmony with the Market is negligible, with the potential of an R:R of 4.7:1
Yet another trade where the majority will be uncomfortable taking but hey I'm not looking to win a popularity contest.
Sean Vengan
Professional Trader and Trading Educator
DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
Comment:
Inevitably when you are shorting the Market you will use LEVERAGE.
Leverage can be wonderful and a complete nightmare so this is my advice.
Professional Advice:
It's very hard, but if you feel you're getting very emotional on a trade that's a SURE SIGN your position is TOO LARGE your RISK is TOO HIGH and you are OVER LEVERAGED.
Solution: TRADE SMALLER
Leverage can be wonderful and a complete nightmare so this is my advice.
Professional Advice:
It's very hard, but if you feel you're getting very emotional on a trade that's a SURE SIGN your position is TOO LARGE your RISK is TOO HIGH and you are OVER LEVERAGED.
Solution: TRADE SMALLER
Comment:
If we can drop below $4650 we have some confirmation we are going South...
Comment:
So we got stopped out (those of you who used stops that is - come on admit it if you didn' lol). I mentioned I was using this trade as a TEST TRADE to see a bigger picture analysis. So no big deal the test didn't work and now I reassess.
It's vitally important BEFORE you take a trade that you accept in trading you will have winners and losers THIS IS REAL TRADNG. Anyone who tells you they 100% winners is not a trader and you should run a mile.
My friends, don't worry the idea is to have more winners than losers and sometimes we have several losers in the row. You must understand that TRADING is a NOT JUST ONE TRADE it is a SERIES OF TRADES where we expect to be NET POSITIVE UP.
With our stop loss being hit its a small % of our account often 0.5%/1%/2% and then we will have a winner of maybe 5%.
We have PROTECTED our CAPITAL and now can sit back and view BTC position in the Market CALM and OBJECTIVE and look for our next setup.
Stop losses are there to not only protect our capital but also to give us a new perspective as we receive new information.
Onwards and upwards...
It's vitally important BEFORE you take a trade that you accept in trading you will have winners and losers THIS IS REAL TRADNG. Anyone who tells you they 100% winners is not a trader and you should run a mile.
My friends, don't worry the idea is to have more winners than losers and sometimes we have several losers in the row. You must understand that TRADING is a NOT JUST ONE TRADE it is a SERIES OF TRADES where we expect to be NET POSITIVE UP.
With our stop loss being hit its a small % of our account often 0.5%/1%/2% and then we will have a winner of maybe 5%.
We have PROTECTED our CAPITAL and now can sit back and view BTC position in the Market CALM and OBJECTIVE and look for our next setup.
Stop losses are there to not only protect our capital but also to give us a new perspective as we receive new information.
Onwards and upwards...
Comment:
I'm waiting to see if that was just a BULL TRAP meaning the wick of the candle broke through yes but the body of the candle stays within the previous All time high?
1. Correct, Inverse Head & Shoulders are a Bullish pattern in a DOWN TREND.
However, we are in an UPTREND. I have proven to my satisfaction that regarding Bitcoin, to date, Inverse Head & Shouders are a Bullish Pattern
Here is the proof of my previous SUCCESSFUL PUBLIC Analysis
2. The Inverse H&S has not played out yet and that's what we are looking to play out now and trade. NOTE my comments in today's post:
"I will talk more about this in a later post the significance of this."
3. This is a SHORT-TERM play, as I have often repeated I am BULLISH medium to long term.
4. To MAKE MONEY $$$ in trading you have to trade BOTH WAYS: Long and Short.
5. If we get stopped out we REASSESS
SUMMARY
This is a short-term play (maybe days) to see if this will play out then if it does, as I have advised you IN ADVANCE on this post today:
""I will talk more about this in a later post the significance of this.""
Make sense?