Why do you set the loss to the top of the cloud? Shouldnt the stop be at the Kijun line?
CryptKeeper54
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@CryptoSuperTrader when you say long, what time frame do you typically target? 5-10 days? 10-20? or a few months?
NoCode326
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@CryptKeeper54, This is a trend reversal, stay long until there are signals of another trend reversal. And take profits at your discretion....Beware of the BitFin shorts.
HondaJr
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Hi! What is the reason it it confirmed to go upside?
UnknownUnicorn1063189
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@HondaJr, Good question.
ts
Technically, when price moves above the Ichimoku it's a Buy. The tenken shin and kijun sen are providing support above the cloud.
By placing your stop below the cloud it gives it some wiggle room. I see too many traders placing their stops far too tight. Markets need to "breathe"
We are also getting support from the EMAs. And momentum is above in the buy zone.
Fundamentally, I think we might see a pullback on Bitcoin as we approach 1 August 2017 deadline.
Kind regards, Saen Vengan
view_trade
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@CryptoSuperTrader, If you think that BTC will pullback, then wouldn't ETH too? ETH has been following BTC for the most part.
UnknownUnicorn1063189
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@view_trade, Its actually been going opposite ways, as has LTC. If BTC falls money will get diverted to other coins.mMy thoughts are that it will go to ETH ETC and LTC
moontumble
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I suppose "not" is a typo and should be "now"...
UnknownUnicorn1063189
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@moontumble, Yes I apologise it was a typo which I have now corrected. Thank you for observing and notifying me. I appreciate this.