Taking a Sell Opportunity in BTCUSD. I'm thinking long term on this trade. Usually when new high is achieved BTC likes to drop tremendously. Currently I'm going with the same prediction. There is no USD news the rest of today and off course BTC is making its own news. Basically I'm taking this trade down the the trendline below, and if there is enough momentum, I'll take it further if it allows. I'm taking a smaller lot size on this one simply because I've already hit my daily goal and want to minimize losses if I end up with any. My technical analysis is that price has falsely broken the above structure and now has began rejecting this structure on the 1H and creating lower highs on the 15m and 5m. We could be in for a pullback on the 1H and 15m soon also, so if you want to be more careful, wait for those. Stay tuned and lets see what happens.
Comment:
I got a smooooth re-entry, slid my stop-loss into profit, and though price never hit my SL, the flipping spread knocked me out of the trade with .63 cents in profit hahahaha. Still a good day overall, 2-1 and I should have been deep in profit in BTC.