Im bearish on the XBT
Nice correction from almost 14k, time for a temporary trend change.
A bounce from the 50% fibo, good sign we are going down.
Last few months this overbalance method was very profitable
Buy: 11915
TP1: 11591
TP2: 11064
TP3: 10301
SL: 12435
Nice correction from almost 14k, time for a temporary trend change.
A bounce from the 50% fibo, good sign we are going down.
Last few months this overbalance method was very profitable
Buy: 11915
TP1: 11591
TP2: 11064
TP3: 10301
SL: 12435
Comment:
50% of the position closed on the SL level, the remaining half is in play
Trade active:
First TP hit at 11591, retrace back to entry - buyback 1/3 of the position
Trade active:
Entry hit - buyback 1/3 of the position
First TP hit the second time
Second TP hit
First TP hit the second time
Second TP hit
Trade closed: target reached:
Third TP hit
Comment:
To recap the trade:
Lets say we traded a position of $100
SL took down 50% of the position, so we are left with 50$
First TP gave us a 1:1 of 1/3 of the position, so +$16
We bought back on entry and then sold at the second hit into the TP2 +$16
TP2 gave us x2 of 1/3 of the position so +$32
TP3 gave us x3 od 1/3 of the positon so +$48
100-50+16+16+32+48=$162
62% profit
Lets say we traded a position of $100
SL took down 50% of the position, so we are left with 50$
First TP gave us a 1:1 of 1/3 of the position, so +$16
We bought back on entry and then sold at the second hit into the TP2 +$16
TP2 gave us x2 of 1/3 of the position so +$32
TP3 gave us x3 od 1/3 of the positon so +$48
100-50+16+16+32+48=$162
62% profit