chris333
Education

Update to "Go long BTCUSD"-Trade Management Risk:Reward is 14:1

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This chart will give you a better view to the ongoing trade "Go Long BTCUSD", with all indicators in visible ( Pivots , Opening Range) to see the trade progression, trailing stop losses and profit targets.
What you are seeing here is trade management. By managing the trade properly we are able quickly eliminate the risk of the trade being a losing trade, by bringing our stop loss to close to break even very soon after our entry. From there we simply trail stops to key support levels as well as taking partial profits at key resistance levels. This allows for the trade to be a comfortable experience by enjoying the booking of gains and the continual reduction in risk of losing profits.
Comment: Raising the stop loss to 4839, just below today's Pivot high level and the recent support of the last 14 hours.
Thanks for sharing. Very interesting!
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chris333 Benjamix
@Benjamix, You're welcome. Happy to help.
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Benjamix chris333
@chris333, it's like learning a second or third language. The beauty of these charts is they speak more than a thousand words for a beginner. Cheers !
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