What a lovely trade this has been :) As you know from the previous analysis, i made a counter trade Sunday night. Read about it in the previous analysis. I still have 70% of my long pos left here and i will keep it. Later today we have a FED meeting, which can cause the price to move very big coming days. Now i am wondering, was that bear trap done by people who already know what the FED meet will cause on the price? I think the pro's loaded up big time the past weeks with the final batch with the bear trap break of the triangle.
I am going to risk my profit here (already sold 30%), because we can see some huge wicks happen around the FED meeting. The bullish wedge on the left is still in play, so that could cause a long term rally. It all seems to fit the picture so for me it's worth the shot :)
Please don't forget to like if you appreciate this :)
You know, @botje11 , the funny thing I am learning about the Forex market is you can trade only EURUSD and potentially make a living from it. The key is knowing which time frames to pay attention to most and how to read and respond to volume. I think getting caught up in following many pairs just makes trading more difficult. Better to master trading one pair in my opinion.
VuDucThanhLong
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cruelman84
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This is a very good call! Would it be smart to have both a long and short position in such a case in the future? With an ample stop loss. When it rallies, one will be eliminated and the other continues its extra long journey to the moon :P
botje11
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@cruelman84, sometimes yes, but i have seen many squeezes up AND down within seconds, taking both stops. The market is not dumb. So it can certainly work sometimes, but not without risk
UnknownUnicorn3901369
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Good call!
:)
botje11
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@AdamCPU, Thanks :)
BlurShines
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Great call again... it's not only only your btc analysis that is making my portfolio grow :)
botje11
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@BlurShines, hahaha happy to hear that. Don't forget about me when you become a millionaire :)