Alight so I'm committing myself to post a new 1D analysis/idea for BTCUSD each month. So welcome to Month #3!!
Id say were off to a fairly good start.. Yes on the second idea i didn't want to break 6800 but i mentioned 7400 early on, that target was even on the chart.
We held, and I held, my underwater short lol, but i averaged up.. I mentioned having the right idea but being wrong timing.. This concept is so important in trading as the market can say irrational longer then you can stay solvent. That is why you need risk management. You need to be able to hold that underwater short while the market goes against you..
These ideas don't have to complete in one month, they don't even have to be right.. ideas change as the market provides more information. So lets take a look at what we see and give this months analysis.
Down lol.. Were in a bear market (a market that blew itself out of proportion). I Still have a 4.3k target. But I think it takes awhile to get there.
today is Saturday and we dumped hard.. 6100,6050,5800, long hedges are a possibility.. I will hold my majority in shorts from last months levels.. Though I wont write off a recovery back to the 6800's just yet.
Id say were off to a fairly good start.. Yes on the second idea i didn't want to break 6800 but i mentioned 7400 early on, that target was even on the chart.
We held, and I held, my underwater short lol, but i averaged up.. I mentioned having the right idea but being wrong timing.. This concept is so important in trading as the market can say irrational longer then you can stay solvent. That is why you need risk management. You need to be able to hold that underwater short while the market goes against you..
These ideas don't have to complete in one month, they don't even have to be right.. ideas change as the market provides more information. So lets take a look at what we see and give this months analysis.
Down lol.. Were in a bear market (a market that blew itself out of proportion). I Still have a 4.3k target. But I think it takes awhile to get there.
today is Saturday and we dumped hard.. 6100,6050,5800, long hedges are a possibility.. I will hold my majority in shorts from last months levels.. Though I wont write off a recovery back to the 6800's just yet.
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in a market id like to think i understand.. I'm looking for a retest of the 6700 - 6800 zone before making new relative lows.. <5800
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for now we swing trade the 1 and 4 hour.
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looking for 6.6-6.8.. for a re-short. Might get there this weekend.
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Yesterday I posted two different ideas for where we might go. Im liking the second one even more.