Note: This trade meets my system 1 criteria but I currently am not in this trade.
Initial stop: 2858
-0 when price hits 1
-1 when price hits 2
-2 when price hits 3
-3 when price breaks above 3
-4 dependent on price action
Since it's the start of the new year and I'm still relatively new to trading, I think it would be a mistake for me to not experiment with various systems. I will be using the first quarter of the year to try out new trading systems. The criteria for the trade will not be shown until I find a system I like.
I will start with $1000 for each system.
Entries and stops
1. Test of the uptrend line with an exit if price closes under the trend line
2. Break and retest of the first red horizontal. Stop on a close below red horizontal
3. Entry on orange horizontal. Stop loss on a close below 6200
Looking for an SR flip on the first red horizontal.
Purple lines will be trailing stops and upper red horizontals...
Entry: 28,000 Sats
Stop: Close under uptrend line/Price fails to hold red horizontal in an S/R flip scenario.
I am trading this with a MANUAL trailing stop starting at a break of the red line.
Entry: Retest of downtrend line,green horizontal and a manual entry I will determine based off of price action.
Stop: Close under...
GNT broke through the low 1900 sats area that was causing it resistance and is now retracing.
The low-mid 1800 sats range is a very important area for GNT in the last year. It acted as support before 60.46% and 66.39% increases on September 12th and the November 20th.
On lower time frames, the range acted as an order block before breaking and forming a new...
BTC has now completely filled the gap from the big green candle on the 20th. On top of that, it bounced off the top of the cloud which it also did after correcting from the 4177 push and made a higher high.
Opening a preemptive short here.
Adding to short on a break of the purple line. Depending on market conditions, could also be used as a take profit.
Orange line = Close all of my shorts if market looks too overextended OR close some of my short using the green lines as further short targets
Green lines = Short targets if overall market looks weak OR areas to...
How to trade this idea:
Red Line = Take all profit from positions built on top two blue lines
Purple Line = Take all profit from positions built on bottom three blue lines
Blue Lines = Buy areas/trailing stops/take profits
Create stops at your own discretion.