Now that we finally broke through the resistance @ 0.00865 I'm expecting resistance turning into support and the price pulling back down to this level again and then a long up to the next resistance @ 0.0098
My LONG setup:
Entry: 0.00853
Stop-loss: 0.0082
Entry: 0.0098
RRR: 3.85
Notes:
- Maybe the price will go already now up to the resistance @ 0.0098 and I could short the price from that level back down to 0.00865 but I'll wait for the long now.
- Support at the entry makes me more comfortable that it'll hold
- I don't mind setting up the entry a bit lower than support @ 0.00865 since in the past the price came a bit lower and bounced, too
My LONG setup:
Entry: 0.00853
Stop-loss: 0.0082
Entry: 0.0098
RRR: 3.85
Notes:
- Maybe the price will go already now up to the resistance @ 0.0098 and I could short the price from that level back down to 0.00865 but I'll wait for the long now.
- Support at the entry makes me more comfortable that it'll hold
- I don't mind setting up the entry a bit lower than support @ 0.00865 since in the past the price came a bit lower and bounced, too
Trade closed manually:
The price just SpaceXed all the way to 0.0098 which was my target, used 0.0094 resistance as support and now it's howeing there. I'm not sure what'll happen so staying on the side...
Comment:
My setup works like a charm!
Trade closed: target reached:
And there you go - RRR + 3.85
Comment:
New SHORT setup since I don't believe we'll break above the next resistance yet:
Entry: 0.00973
Stop-loss: 0.00990
Target: 0.00902
RRR: 4.18
Note:
- more confident in a bearish setup since BTC also looks bearish to me
Entry: 0.00973
Stop-loss: 0.00990
Target: 0.00902
RRR: 4.18
Note:
- more confident in a bearish setup since BTC also looks bearish to me
Order cancelled:
Forget the previous setup. Some charts give me bearish signs others bullish so I'm out for now...
Trade closed: target reached:
Had this trade marked on 4H but never actually took time to pull it off so it was only atheoretical one.