SUB broke through previous resistance and heading north. Expect some retesting of new support, but there is the potential for some profit on the way up to the next major resistance.
I have entered this trade with a small investment only.
Use SL on all trades for protection. Happy hunting.
Trade active
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Trade active. SL set 5% below entry.
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Price bounced off resistance at approx 7000 sats. We wait to see what happens now. Need to break through this level in order to make our way to 7500 sats. Maintain SL incase of reversal.
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Trade still active if you had your SL set to 10%. If you had it at 5%, you may have been sold out.
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With these trades, I like to have at least a 1:3 R:R ratio. This means that if you have the potential for a 30% profit, you can set your SL to 10%. For this trade, I personally used a 5% SL as mentioned before the trade went active, but DYOR and choose your risk appetite. I'm sold out of this trade, but will keep the updates coming for those that set to 10%
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Candles are respecting overall bullish trendline support on the 4hr.
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As per previous comment, trendline was respected on the 4hr timeframe. Trade is still active and moving as predicted!
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Trade looking really good. Just keep an eye on it because these last two candles have some decent upper shadows. You can tighten up the SL a bit in these situations.
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Team - Watch out for break in trend lines... There are 2 possible trend lines here. If we break thei first one, we are likely to head back down to the second one. Just be vigilant and move that SL up as needed. Profit is profit.
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For anyone that is not aware, this is how you map out the protection of your profits.
Draw your charts up like this so you are comfortable with your Stop Loss and you know 100% what your profit will be if the market turns. This is peace of mind to me.
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Trendline well and truly respected. Move your SL up to protect profit.
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TRENDLINE 1 BROKEN - BEWARE
Trendline 1 has been broken during the 4th touch. We may now head down to Trendline 2 or the horizontal level of support. If you moved your SL up, your order may have been executed - Which is good! Profit is profit. Keep a close eye on this one, if it continues to break support, the trade is over.
Trade closed: stop reached
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Everyone should have a stoploss which now should have been activated. Your sell orders should now have been executed. The trendline was broken.