BTCE BoT short off failed rallyHere is a great example of The BoT in action in a shorting situation. BTCE had just rallied back into an OTE short zone on the higher time frame charts (and was quickly rejected) so a pullback was to be expected. The BoT came alive when prices moved from 440 down into the 407 area and then rebounded back to 430 area. Looking for an ab=cd price pattern continuation here (and an ultimate target just under $400) The BoT suggested the 420 area itself would represent a level where (according to the model) the potential reward to risk setup would be 3:1. Notice how price itself put in a nice double top right at that level and then slowly gave everyone multiple opportunities to get in. Once the trade got going in earnest both the stop to break even and stop to trail levels where hit in short order. Since the ultimate target (397.04) has yet to be hit, and there has yet to be a serious bottom registered in either volume or momentum, i recon stops just above recent rally peaks (and the 13ema) are warranted on the 421 shorts. Of course, with Willy rather stupid at the moment, shorts and or sales simply are not realistic.
If my charts help you, or you use my indicators...
please consider a BTC donation to allow me to
continue my work :
1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5
& follow me on Twitter @CRInvestor
Bot
Crude Oil weekly BoT long setupIf you believe the weekly trend has turned higher on Crude then one way to play the higher time frame trade is with The BoT. Here we ought to be long currently from 100.83 with stops still at 97.34. Should we hit 104.33 we can then move our stop to just under our original entry. Lets see if the current bull rally can hit that level. Regardless, that bullish ab=cd target is 111.31 so I for one shall be looking for higher CL prices going into our seasonal peak, not lower.
Crude Oil day trade setupHere is a really nice example of the BoT in action. Price had been basing through the overnight session as a wide double bottom was confirmed through the pre-pit open. That bottom setup long ideas and sure enough the BoT came alive when prices corrected to 103.26. I watched price action closely and was very fortunate to act when given the opportunity (wtg Brian). On news out of Russia, price surged higher and both the 'stop to break even' level and the 'stop to trail' levels where hit. Considering my poor performance yesterday, I wanted to book a nice positive day and so moved my stop up aggressively and was filled shortly thereafter. Interestingly, had I left my stop at break even through the following 10 minute pull back and then moved my stop to that pullback low (which is in my plan....tisk tisk Brian) I would have ultimately been filled at the ab=cd target. Still more to work on but am happy with booking a nice profitable trade on the day.
If my charts help you, or you use my indicators...
please consider a BTC donation to allow me to
continue my work :
1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5
& follow me on Twitter @CRInvestor
