mongacoin

Retracement day trade play for Bitcoin

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BITFINEX:BTCUSD
Type: Short
Entry: Break below 8388
Stop: 8542
Take Profit: 8086

Rationale
- Bear divergence on hourly
- Double top on fib retracement (golden pocket)

Looking for a quick trade to get a retracement to the trend line break
Comment: Do note that counter trend trades are always riskier as you are going against the trend. It is important to acknowledge that and be aware of it when trading and be decisive when the trade go against you.
Trade closed: target reached: Profit 3.58% boom! Been away for holiday and trade closed out with profits

Comments

only strong men can leave their position open when going for holidays
Reply
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