Ciao Traders !
following my previous post of the full count, I want to clarify that I can be wrong of course, but doesn't mean I am groin got miss out (hopefully) in case the whole trend is in fact a bullish one and we are just temporary correcting
What I will personally do is:
1- putting few orders between 7200 and 7600, wait for a bounce, sell 25% of the position at 8500/8600 (if we reach there hopefully) and leave the rest to run.
After selling the 25% I will put a stop order at break even at that point, around just before the previous low.. the fact that I sold 25% of the position will allow me to have a break even stop slightly below the average price I bought in the first place
2- In case I get stopped following what indicated above, I will repeat the same strategy in the green box, down to 5000 ish (at the 0786 Fibonacci).
In this case I will again 25% at around 7000$, to ensure that if it hit my stop (which I will set just below the low that will be formed around 4900) I will be again breaking even.
In case continues to move up, I will sell another 20% at 10300 and leave the rest to run (if in fact we are in a bull market).
Worse case scenario I should break even in both cases or face a small loss if the market in fact turn down following my bearish scenario.
Happy trading to all !
Disclaimer:
This is not financial or investment advice
I am not a professional in the financial or investment fields
This analysis is just for entertainment purposes
Do not follow what I do or do it at your own risk
following my previous post of the full count, I want to clarify that I can be wrong of course, but doesn't mean I am groin got miss out (hopefully) in case the whole trend is in fact a bullish one and we are just temporary correcting
What I will personally do is:
1- putting few orders between 7200 and 7600, wait for a bounce, sell 25% of the position at 8500/8600 (if we reach there hopefully) and leave the rest to run.
After selling the 25% I will put a stop order at break even at that point, around just before the previous low.. the fact that I sold 25% of the position will allow me to have a break even stop slightly below the average price I bought in the first place
2- In case I get stopped following what indicated above, I will repeat the same strategy in the green box, down to 5000 ish (at the 0786 Fibonacci).
In this case I will again 25% at around 7000$, to ensure that if it hit my stop (which I will set just below the low that will be formed around 4900) I will be again breaking even.
In case continues to move up, I will sell another 20% at 10300 and leave the rest to run (if in fact we are in a bull market).
Worse case scenario I should break even in both cases or face a small loss if the market in fact turn down following my bearish scenario.
Happy trading to all !
Disclaimer:
This is not financial or investment advice
I am not a professional in the financial or investment fields
This analysis is just for entertainment purposes
Do not follow what I do or do it at your own risk
Comment:
p.s. my primary count, based on the price action from the 900$ up to 20k and thereafter, is still the bearish one as in the other chart i posted, but, since I always give myself a chance to be wrong, I will try to not miss out in a bullish scenario in the way mentioned in points 1 and 2 above... in any case, should cost me almost nothing trying be a bull :)