"'Day trade' short setup on Bitcoin" by trader CRInvestor — published November 24, 2013

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Bitcoin / U.S. Dollar (MTGOX:BTCUSD)

MTGOX:BTCUSD Bitcoin / U.S. Dollar

For fun, I took a paper short off this 15m top setup sh 847.52, stop 883.01, target OTE long ss off bottom 777 (or about 2:1 reward/risk).....lets see what happens...fwiw, 2hr OTE long sweet spot cur around $580.....doh...a runner here could make some serious bacon

As of 8:44pm pst BTCUSD traded to $777.73. AOCO levels traded past so filled on paper short at 778.14 (OTE long sweet spot). This equates to a profit of $69.38 on a potential risk of $35.49 or 1.96 Reward/risk ratio.

As of 1:20pm pst BTCUSD $790....target is OTE long sweet spot (currently 776.01) short from 847.78, stop 883.01 working nicely

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