MaryJane

Again and again: SL-Adjustment

BITSTAMP:BTCUSD   Bitcoin / Dollar
376 3 25
That`s really crazy! Thát`s a Breakout, you don`t often can watch! Because BTC             only knows one direction and is traded near the TOP
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, it`s time again to adjust your SL.
IMO             a good Level could be the actual 38,2 fibo-retracement @ 595 - here you secure 125 Points of the Position.
I would prefer to Close half of the Position, so the rest of the Position is riskless!

The anticyclical thinking Traders could opene a shortposition at the actual Level. SL should be the last High at 694! TP1 could be 595, TP2 565/ TP3 534!

Good luck guys!
Trade closed: stop reached: The Sl is triggered at 664 by the ugly intraday shakeout candkle - so the fillustrated trade is closed.
Entry was 470$ ( i illustrated how to catch a Breakout of a bullish Triangle)
Today i wrote that i would close half the position at 678$. The rest of the position was kicked out per sl at 664$, in sum, the trade made 671-470=201 Points or Dollars!
I hope this example was useful to you. Bitcoins seem to be very overheated and overbought at the moment, If i see the next clear trading point, i will illustrate it. Like it if you like it :-) thx
Trade closed: target reached: more than that :-)
Comment:
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exit per sl
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Reply
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Adjust your shortterm stopp loss again, here i illustrate the next minimum correction level of the last movement, the 38,2 fibo @ 664$. The Breakout-Move seems to be endless...with this sl you safe 175 points of thefictive rest position
Reply
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This is too much! IMO it`s time again to adjust your wsl . the fibo of the youngest buying-wave could be an interesting Level @ 645 - Here you secure 180 Points!
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