BTC reacting from the support Long

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

⋅ Sep 11, 2019 11:48 AM

Hit the high-timeframe support area.
Hunted the stops below the initial wick.

Looking for some (ping-pong) consolidation here followed by a squeeze to the upside in the next few days.

Targeting 10447-10540 area.

Comment

⋅ Sep 12, 2019 1:05 PM

Playing out within the expectations so far.

We see increased selling pressure here in the 10200s now.
Many people are shorting this level.

I'd like to see them squeezed by the end of the day.
One glorious candle as soon as 10250 gets broken would be something we want to see.

Any pullbacks from here should be absorbed at lowest in the 10080-10060 area, ideally above 10100.

Trade closed: target reached

⋅ Sep 12, 2019 10:17 PM

Thanks for playing.

Comments

Jolgan

⋅ Sep 13, 2019 12:52 PM

Well, congrats on that trade!
A couple of days ago, a saw this guy on you tube with 0.65 level on his charts, so I put it here and boom:

Jolgan

⋅ Sep 11, 2019 1:43 PM

One thinks it goes up, other thinks down, we have a market

eyupium

⋅ Sep 11, 2019 1:49 PM

@Jolgan, Sure. It's just a trade. One in a series of many.

Someone will be right today, someone else will be right tomorrow. As long as we keep our risk managed, have a consistent system, then being wrong on any single trade doesn't matter much in the big scheme of things.

Jolgan

⋅ Sep 11, 2019 2:19 PM

@eyupium, Agreed