Fontas
Long

Bitcoin medium term long, cumulative volume exhaustion, fut prem

OKCOIN:BTCUSD3M   Bitcoin / Dollar Forward 3 Months
Position size maximum 20% equity . Leverage max 4x for this volatility . Current price 561USD, stop loss 503USD. Targets are 606, 636, 666, 686, 706. Liquidation of 15%, 20%, 30%, 25%, 10% at these positions respectively.

EXIT: Futures premium reach +5%, close 50% of positions.
Fisher reach over 5th bar and is heading down, close 60% of positions
OBV reach 38955392 close 50% of positions. OBV reach 48648733 close all positions.

==

Reasoning.

1. Futures premium is at -1%, an extreme oversold value. Overbearish sentiment from the bitfinex hack. Must correct upwards in short term, even if this is part of a medium term bear trend.

2. Fisher transform , showing capitulation from the 840 euphoria high is complete or near completion.

3. On Balance Volume is at BOTTOM levels. We settled at $560 with similar cum volume levels as $440 before the entire euphoria cycle. Signals the market has reached finality and released its load.

Start with a small long position and add to this slowly as strength picks up. Watch the FUTURES PREMIUM. I will update this position.
Trade active: Current price 590. Good profit so far. Continue trade.
Trade active: Since the market did not even consolidate at the bottom, much more bullish than I anticipated. Change final 3 price targets to 689, 709, 739 respectively.
Trade active: Continuation of trade. First target of 606 reached. 15% of position closed
Trade active: 587 current price. Conditions still good.
Comment:
snapshot
Symmetric triangles both break upwards in healthy bull market.

Trade still active.
Trade active: Halfway of time-stop. Trade still active. Conditions good.
Comment: Trade continue. Symmetrical triangle breakup. Note, @fontase on twitter is not me. I have reported him as an imposter
Comment: continue
Comment: Raise stop-loss to 583. Minimum profit if stoplossed there is 15.6% at recommended 4x leverage
Trade active: Almost on target
Comment: I have closed 65% of my position for deep profit on 4x leverage at the original first 3 target: 606, 636, 689. Raise stop loss to 636. Remaining 2 targets are 709, 739. Still open on 35% of the long position. Will close 25% and 10% at these targets respectively.
Trade closed: target reached:
snapshot


Final update. Successfully closed all positions at defined targets: 606, 636, 689, 709, 739. The return on capital for each target was 4.8%, 10.6%, 27.3%, 26.3%, 12.7%.

On the initial capital for 4x long, made a total 81.9% gain. Thank you BTC
Hi flashs #bitcointraders irc rizon.net
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Hello fontas! Do you have any idea about any altcoins? Would be grateful to hear your opinion! Thanks!
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Thanks for the update. What is your outlook now for btc? If you have closed out you are obviously expecting a pullback? Should US election uncertainty not drive this a little higher in the short term?
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Fontas perpetualX
I have 0 position and 0 opinion until next opportunity
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Nice job, man.
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Thanks Fontas!
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Good luck. Good chart.
You achieve 739$ target.
Have a good weekend.
Nice trading idea.
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Fontas Khawaja
Thanks. Good profit
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rooki3 Fontas
that was f impressive, You are the man
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You are awesome!:)
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