its all in the chart, buys at $5250. good luck. I know I usually post short trades, but the strategy calls the short and long at the same time.
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as always comments welcome, I am constantly improving by mistakes.
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the chart will have to be watched for 8-16 hours to see how the price action moves.
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things to be watched are staying below the local high, and ascending volume coming in which rises even in the face of aggressive selling/sellwalls.
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at the first support line, possibly heading to the second.
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Trade closed: target reached
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Took a while, first buy scalp area reached. Looks like dirt tbh, looking for $3100 next (still a few stops, and about a million liquidations, till then) what happened to Bitcoin?
Hi, nice charts. i have a suggestion for stoch. use k=5 , d=3 , s=2. I think it worth trying and i get earlier calls from it. also i think we might get a little bullish and go a little higher with high amount of good news to liquidating underwater shorts then your 4900-5200 target could be seen. also why you use two same volume indicator in one chart?
cycler
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@ThereIsNoMoon, also why you use two same volume indicator in one chart? I don't know what you mean by that. and I will back test the stoch suggestion. short squeezes are always possible and are a part of risk management, I always include the possibility when creating a risk management strategy. However there is no indication we will get one on my charts, so I wouldn't try and catch a higher price for shorts, but manage risk by using a strategy, having free capital and keeping the leverage low.
ThereIsNoMoon
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@cycler, in the main chart, i see two vol(20) and i asked about it. And yeah for sure you know your strategy and take care of your positions, that was just a speculation from my limited TA knowledge.