Another nice trade on ETH Buy @ Mentioned zone, 590~640 SL=Breaking the channel and closing 2 candles outside it TP1= 830 TP2=1062 TP3=1295 TP4= 1528 TP5= 1758 ____________ Questions are welcome
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Can you see how the price went to our mentioned zone?
Trade active
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If you bought in 640 then you have a good profit now. Please have you SL active and watch this update
Trade closed manually
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I will close now @ 688 and wait for a confirmation that it's up
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BTC Update
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Can you see that till today the price is inside the channel ? I hope it doesn't broken
@engmmohie Good TA, relevant. can you tell little bit on this statement? "SL=Breaking the channel and closing 2 candles outside it " kindly explain for newbie , thanks man
engmmohie
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@jarking, Sure, Can you see the borders of up channel, If the price went out of this channel and the closing price for it was outside the channel for 2 consecutive candles, then Close the trade
jarking
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@engmmohie, Got it, so my understanding is you saying that Tp1 with sell target and then a correction might happen. not familial with such TA, my question though why and how do you define the sell signal with such criteria? "If the price went out of this channel and the closing price for it was outside the channel for 2 consecutive candles, then Close the trade." just wanna learn. thanks in advance for you such quick response. keep it up man.
engmmohie
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@jarking, Basically , you sell at TP1 like 30% and wait for a better buy and move the SL to Entry point, if price went to TP2 you can sell again and put SL for other quantity in TP1 and So on.
For how i define the area to buy and sell, this is the power of analysis that you need to learn to be able to do that