nahidik

XBTUSD Smallball strategy

KRAKEN:XBTUSD   XBT / USD
259 1 7
If you are looking for the big short that 10:1 return this won't work.
Sure it is a great feeling picking those and there is a time and place for everything. In this case I looked for fib patterns. When there was a big run up followed by a 35-40% correction price climbed back close to the top we saw an strong move down with one or two candles. If you drew a trend line and bought on the close of the disrespecting candle with a stop just above the retracement, you would have been in a position to double or triple your risk depending how you exited. In this case after the close of a bullish candle.
You could have used many indicators for an exit, perhaps RSI , Stochastics, etc. what ever your poison.
My point is look for these recurring patterns they don't always pan out but combined with other strategies they can be very good for your account.
Comment: The crypto currencies have fallen back into irrational behavior. This can be very scary or fantastic for the brave among us. $50+ swings represents 10% in a very short period of time. I personally will wait for the inmates to stop running the asylum. But if I were crazy enough to want to play in this I would put an incredibly low buy at around $470 with a very large stop and a small position. You could get a wick in and out. Once it has left the zone move your stop to a break even and you are playing with the casinos money. If it breaks up we could be looking at $650. This is not a suggestion of a trade. In fact I do not advise it.

Educate yourself create a plan and trade your plan. Use other's ideas to validate you plan. Be responsible for your own decision. Know your limit, trade within it.
Comment: Could be history will repeat itself on a higher time frame. The first step has been accomplished with a retracement of 43%. Now we watch and see if we get an up move close to the previous high but not eclipsing it. That will be stage two. I will keep you posted.
We had a big move up. Lets see if it gives us a 30 -40% retracement. One step at a time but we could be following the pattern.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out