Bitcoin Supported by Trendline on the short time frame
The price is being supported by this trendline. Once I noticed, I took three scalps and will long again if we revisit. Interestingly, scalping with moderate leverage erases the pain over holding a swing trade and is better risk management IMO. Waiting to see the reaction once we revisit again.
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I'm in. Textbook entry. I spotted a rising wedge and posted the trade. Now all we need to see is the current candle and the next candle confirm out the wedge and we are game. I will update.
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Might go as high as 7093 plus $10, $20 for hunting so I'm raising stops here.
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There we have it. The Red dildo. Stops to entry for a free trade.
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Half position already closed at target 1 and its only been like 40 minutes
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Stops raised to 6988. Base price now at 7165. I'm chilling now.
Trade closed manually:
Fully closed for 3.66%. A scalp is 1-3% so call this a gift from god. (18:57)
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It hit the trend line again. So I am long from 6838.
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Now average entry at 6853.3. Stop at 6738. Good luck to me because no one is really reading this.
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Close below the trend line. Me scared. This 15 minute candle defines it for me
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added on full risk at 6777. Average entry now at 6815. Stop remains same. Its getting scary now
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REKT at 6738
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From next time onward I will not enter two trades in one idea. So we had a profitable trade and an unprofitable one. Honestly, I became greedy after the win so I deserve this. Lost more than I won and position management is key. Lesson learnt.
Entry: 7013-7023
TP: 6871, 6844
SL: 7076