FerroIgnique

BTC has me sidelined

FerroIgnique Updated   
BITSTAMP:BTCUSD   Bitcoin
Not Financial Advice, but more of a diary. My strategy is to set the candles to Heikin Ashi to remove the noise and trail my stops up one day behind, and then use some discernment to when I should stop adding with my equity from my margin, take profit, or see If I get stopped out. I have been stopped out. I rode the 23 April candle up, keeping my stop one day behind and the formation broke up nicely on the 29th. I added with my margin all the way to approx 9500 when it painted a local high. I decided to move my stop to the open of the HA on the daily given the Stoch RSI was overbought and the HA candles started to nestle their bodies in the HA candle from the 30th. With that small lower wick on today's daily candle I was stopped out. I made money on everything below 8750 and lost money on everything above it.

The plan is to stay out and see what happens. If this rolls over and starts painting red HA candles I expect it will go to the 50 or 200 SMA. Price ran up 2k, so a pullback would be expected. If the price proceeds past 9300/9400 I'll start small and add as it continues.

Here is a shot of traditional candles
4h Doesn't look terrible, the 4h 50 SMA looks as if it may hold.
Comment:
someone asked for more clarification about entering on a HA Candle so here is an update with the details Blue arrows are entry points, the red is a stop out for a loss because no system is perfect.Purple would be a re-entry because the prior day HA candle still closed green. if there are a lot of HA dojis then its untradable under my rules and I stay out.
Trade active:
I am now short ETH; waited 45 min after the daily open, decided to market short with a stop just above the prior day HA 'Close' in red
What it looks like in Trad Candles

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