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BTCUSD Bitcoin Trade Points and Stops from HereBitcoin Update 26th July 11:16Est 06:16Est Bitcoin was a buy on a break above the 8160 line yesterday (though by time comment went live it had already broken higher, sorry- busy day yesterday all round) It was also a buy if missed the first break on a return to the 8160 line overnight, with the low being 8163 since then. But the rally is a little lame so far up 100 or so points. Can raise the stop to 8240 for now. It's effectively back in neutral, yet again in the very near term whilst trading within the range forming overnight and today bounded by support at the 8160 line and resistance at 8298-8320. Has to break above 8320 to return to positive for rally back to 8478-8576 range. Any break above 8600 at any point on rising volume would be extremely positive and can follow long again from that point looking for 8863 initially and then once broken above to 9367. Until then the best we can do is raise the stop as above or close out as close to the 8300 line for 140 points or so profit (if you were around or had orders placed to buy the dip overnight) and be ready to go again on a break above 8320 on rising volume. Returning to the downside potential from here: has to break below the first support line at 8163-8155 range to trigger a 100 point scalp back to 8053. The next support lies at 7944. It must hold up here at lowest on any retests for the uptrend to remain in tact from here. 25th July 22:18 Bst 17:18 Est The bears are really struggling here. We've had 4 minor waves down with the last being a slightly higher low - there's no momentum building on the downside - there are no sellers . And if that;s the case it have to move up until there are some again. The support lines have been adjusted accordingly . This mofo is trying to break above 8170 as this is finished. It's not ready to go down yet. So it should push up instead. Which it's just damn well done. Resistance here at 8230 - must break above here on rising volume to follow long again - it looks ok though to buy the dip if it comes back to 8163 overnight if it sticks here at 8230 - otherwise will have to buy the break higher above 8230 and hope volume picks up behind quickly. If not look to close out again. July 24th Update Bitcoin Update 24th July 09:42 Bst 04:42 Est The break higher duly came at the rather strange hour of 05:00 Bst and midnight Est. Volume has been quite high though not spectacular. Not much follow through in London though. It's the first time Bitcoin has made such a small surge following a break-out higher and it hasn't reached any clear resistance level either. The rally is a little spooky so far, lacking real intent. The long shot from 7800 is going OK but not great so far. Raising the stop to 7924 for now and hoping it won't get taken before more buyers appear. * Active traders: For fastest up-dates in real time over the Summer hiatus please check link at top left of main page. You are very welcome to join.
by sumastardon
Bitcoin XBT Stops Update and Next Trade Points from HereBitcoin Bitmex Update Not much has changed overnight. It was still a buy on tests of the 7355 line but only for scalps... If you bought on the second test of this level overnight raise the stop to 7438 for now. The spikes above price suggest it's still not wanted much above 7500 so far. The rest stays the same for now, a repeat of yesterday as nothing has changed yet. On Bitmex feed it's still effectively stuck in the range bounded by three lines of important resistance at 7615 and 7683 and 7741 and one line of support at 7265, which now needs extending to cover the spike low. Whilst inside the range it looks like scalping opportunities at best for now. Buy on dips towards the 7355 nearest support line with stops just under 7350 looks to be the best option for those looking to trade this inside the range from here. For others, an eventual break either side of the range should be worth following more aggressively. Has to break above 7750 on high volume to follow long looking for 8600. And on the downside has to break below 7240 on rising volumes for next good shorting opportunity, looking for a retest if 6819-6792 range where it should bounce again if tested. But until then it looks like we remain limited to scalping opportunities inside the range *Day-Traders: For fastest updates in real-time please check link at top-left of main page.
BITMEX:XBTLong
by sumastardon
4
Dow Jones Industrials: DJIA1! Stop Management and Trade PointsDow Jones Futures DJIA1! 10:15bst/05:15est 20th July Despite the counter rally this index still looks weak technically. It should start to come off from around here and from the upper falling dynamic from the recent highs at 25035 at best. It should come back to the overnight low at 24902-24850 range later today. It must hold and bounce here to avoid unravelling further to 24772 initially and then after another mild bounce to the 24641 -24531 range where it should rally away to the upside once more. To extricate itself from near term bear clutches it has to find enough buying interest to break above the falling dynamic at 25035 and hold there on the retest. Dow Jones Futures Update 11:56bst/06:56est 20th July A nice break lower from a high reached at 25027. Drive stop lower now, to just 10 points above current price to lock in 100 points or so of profit so far. * Active traders: for global markets updates in real-time please check the link at top left of main page.
OSE:DJIA1!Short
by sumastardon
WEDGE UP OR DOWN?We've seen situations where it wedges up and it PUMPS or the classic break & retrace. I'd be more bullish on a downward wedge but, it LOOKS like we're gonna retrace a bit. Anything could happen and the market will do what it does. This is just one perspective of MANY possible outcomes. My level for entry is 6430~ but, ladder your stops and be sure to choose proper risk management. It's a rather huge wedge so if 6430 doesn't hold then, we gotta hope 6200 & 6100 hold.
by hossdelgado
Trading bull flag: where to place buy stop loss?I am observing this beautiful bull flag whole night but I would already want to go to sleep :-D So I decided I to put a buy stop loss order to automate the process. The bull flag trade is usualy traded at the breaking poit at the top of the flag (see e.g. www.youtube.com) - which would be 5719 EUR for the current candle. I wanted to place stop loss at 5730 EUR, but it still feels quite tight (see the previous candle reached over the top line @ 5725). I am kinda afraid that when i leave the trade to the automat, it won't check what I would check - it's the aggresive and fast bull run with the volume - so it might actually happen that there will be just weak move up right to the stop loss and then fall back again. So: 1) Where to place buy stop loss in this case? I want to buy only if there is another agressive rally up, I don't want to miss it, but I also don't want to catch just a simple wave that just touches it, let me buy high and then fall back again. I also don't want to put the stop loss too high, since then it reduces profit (+ the 0.3% taker fee that I have to pay on gdax - I don't really dare to put maker stop loss order - that would probably not fill). 2) Is it somehow possible to let gdax (or binance, bittrex, ....) automatically place sell stop loss AFTER the buy stop loss is executed? That would make super sense but seems no exchange offers that (at least I don't know how to do it, except for writing your own bot :-))
Long
by telensky
1
BTC targeting stops below 6000usdFor now, my idea still stands. Short term short trades are in the play. My 7100-ish short trade still ON. Targeting first 6600, then looking for 6000 and below with major momentum when the stops get triggered (red square). Liquidity gap can make the price spike very low, who knows how low. At that point, I will be a buyer with a short to medium term reversal in mind up to the long-term trend line (green square). The second part of this scenario is a bit of a long-shot but anyway. I also have my stop in place for my short trade in case we turn around sooner than expected which is also a possibility. I suspect many people are expecting similar thing so this alone might turn around the price sooner because nobody want's to be left behind. So...let's see what happens ;)
BITFINEX:BTCUSD
by TIHA01
Bitcoin: BTCUSD Grinding Higher - But Raise Stops Bitcoin: BTCUST Last Update 01:20gmt/20:20est Bitcoin is continuing to grind higher, still contrained by the parallel above it.It's double topping in the near term - has to find buyers enough to push above the high at 11490 on Coinbase feed but will likely still get rejected by the parallel above it even it can push higher now - but grinding upwards towards 11765 completion target perhaps sometime around 14:30 est tomorrow. A small speed line is forming under the lows of this break so far and bulls will be looking for it to hold firm to avoid the risk of Bitcoin topping out in near term and moving into a dull energy sapping sideways to downwards movement due to lack of follow through come far east opening. So It's Ok for swings to stay long for now in hope of 11765 later but consider raising stops to under the little dynamic by 50 points or so to trap in 300 plus points profit for the day even it does wrong from here. It's been hard work all day. It would be a shame not to let it run, but also a shame to risk it slipping away. These choices are ultimately down to profile, as usual. Any move and hold above 11765 (could only be due to far East volume buying) would be extremely bullish - but unlikely in the near term. Nevertheless if wrong and we see it happen at any point over the next 24 hours we follow long once more.
BITFINEX:BTCUSDLong
by sumastardon
The Trend: EP7 -- Stop-Limit saves ThousandsHowdy Yall! I know its been several days! I finally was able (with some help) to get back onto the recording video train. There for awhile The Trend was shut down because I couldn't get videos to load. Once I had shot them, clicking on the publish bar would make them disappear into the great beyond. We're over that now, and we're back to work! Today we have to throw out some bad analysis and take a look at the new stuff, and open our minds a bit. The most important thing we cover is protecting ourselves from bad ideas! Use your stop-limits, and if you're privy to it, use stop-buy's as well! Until Next time! Nuke
COINBASE:BTCUSD
by blessmywork
3
The Trend: EP2 -- Managing OurselvesWelcome back yall! Today on The Trend we talk about the unknown direction of BTC. It's a challenge to call a move upward, or downward with long term trends crashing one another. What usually gives it away? VOLUME . There is no volume in sight. We have to wait untill we see some volume to have conviction in the next move. Later today - or possibly tomorrow we're going to create one of the most important pivots we've had since the 15-17k retests. These are the times we have to manage ourselves. These are the times we have to have the discipline to set stop-limit's and protect ourselves from price-action that could empty our wallets. This is not the time to get hopped up on a new indicator, and think we know whats going to happen in a market which is running so cold, for so long, with little volume. Lets take some solace in what we DO know : There is a giant sum of money on the sideline There is a ton of capital in Alts which left BTC earlier this month - ripe to come back The mining difficulty has not gone down, indicating sentiment that BTC is not dying Talk, chatter, and new analysts are picking up BTC daily! This is not a market losing favor! Now some last minute things. Last night I had a moderator who was nice enough to point out that I don't need to create a second idea for you to "Make it mine" on my chart! Apparently that works on the video too! So if you want to steal the chart from this video and muck it up yourself, simply click the "share" button on the bottom right of the video, and choose "Make it Mine" on the window which pulls up afterwards. If you have questions, challenges, or ideas you want to show off relating to this episode of The Trend I would like to encourage you use that feature. I appreciate everyones support, and thank you for all the kind reviews so far!
COINBASE:BTCUSD
by blessmywork
15
No free lunch! How BTC pushes traders out..Do you sometimes get pushed out of a profitable position? Do you see the market coming back to your breakeven stop, only to then continue going in "your" direction? The market is doing this constantly, so be aware of this. I will show you two areas where this has happened yesterday. Traders often do get no "free lunch", which means a riskless profit. After the trade entry, you may have a nice profit but then see prices turn against your position. Of course you do not want a profitable position to end up in a loss, so you move your stop to breakeven at some point. Is there a solution to this dilemma? Yes, you can exit a good position at a reasonable target, giving up more profit potential. Or you can leave your stop in its original place and risk taking a (small) loss, but stay in your position which can still become very profitable (again). Yesterday there where two examples of this "breakeven stop hunting": 1. The "breakout" longs In the chart I marked the breakout area (red box), where traders entered long, after prices went above resistance levels at 7550 to 7930. Not a bad decision, prices went up to hit the resistance at 8400, nice profit. Traders who hoped it would go higher still, like 9000, of course stayed in position and may have moved their stops to breakeven. But now BTC turned down and made several legs back to 7550. So now the bulls all have seen their stop hit, and what happens? Right, it goes up 1000 points! 2. The "early" shorts Aggressive short traders may have entered below the resistance at 8400 when they saw the market showing weakness there. In the blue box you can see the short entry levels between 8400 and 8100. After seeing a little profit the market then goes up again to 8400, hitting stop loss or breakeven stops of these shorts. Now of course it goes nearly straight down where everybody thought it was going (7800-7600). After all this there was a nice long entry: The long entry (blue circle) also was created by a short trap below 7800, which looked like this: People saw the short term downtrend and break below support at 7800 (former resist). Then a pullback from 7550 to 7800. When prices turned down below 7700 again, some traders would think bearish and short ("Hey, double top and strong downmove, we are going to 6200 again.") Now the bear trap strikes, presenting a long entry: The market makes a second entry long (second push up from 7600). Stops of shorts are being hit and drive prices up, not looking back to this level (7800)! Now how could you have anticipated something like that? Think about a possible range, because prices are moving above and the below the EMA. Think about the breakeven stops of the longs (see above my point 1). Longs are out and so the market is "free" to go up again. Longs might have to buy in again. Think about another leg up (second big leg) and a new high. As you can see, Bitcoin moved up to the upper side of the range in two equal legs and also made a new high! Feel free to post questions or PM me! Or just follow me ;)
BITFINEX:BTCUSD
by FBlocktrader
5
Trading examples: Entry, Stop, Profit in strong trendsFinding entries in a strong downtrend is surely the most important skill to have, but where to place stops? Stop placements are important, it should be hard to reach for the market, but not too far away in order to limit your risk. Always have a predefined stop when entering a trade! In your head or better still as a live stop order. The stops should be above the last high or resistance. But please not just a tick (5$) above, how much exactly depends on volatility and risk management. And should you have a target or let it run with a trailing stop? In the chart you can see I did show two trading examples wich had targets. I am not a fan of trailing stops, but this is only a personal preference. Surely trade management is another important topic: Do you want to move the stop to breakeven or below when you are in a profitable short position? This is also a personal psychological question. I prefer to move a stop to breakeven, but not at a fixed amount of profit, rather based on the chart. What is going on right now? Bitcoin has broken the large downtrend and made two legs up, thereby establishing a steep short-term uptrend and a broader channel. Is this a reversal? To early to see it as a reversal, because we might see a retest of the lows, or at least a move down to 6500 inside the upwards pointing channel. Additionally, after a strong downtrend and break of the trendline, a range is often established (next hours /days). Feel free to ask questions, comment or PM me...
BITFINEX:BTCUSDShort
by FBlocktrader