BCH - Another Leg Up?
Updated
Once again BCH bounced off the .786, which has turned into a fantastic scalp.
However, the key thing to watch out for is a break above this wedge.
My plan of action:
I have placed additional longs to trigger as soon as we have a candle close above the line. So watch closely!
As a day trader, I will likely take support at each fib level that shows any form of resistance.
My stop/loss will likely be a cross back into the wedge.
I will try post updates as this trade progresses.
I wish you all the best of luck!!
Note: BCH generally goes in the opposite direction of BTC, so it may be helpful to pay attention to what is happening on both charts.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
However, the key thing to watch out for is a break above this wedge.
My plan of action:
I have placed additional longs to trigger as soon as we have a candle close above the line. So watch closely!
As a day trader, I will likely take support at each fib level that shows any form of resistance.
My stop/loss will likely be a cross back into the wedge.
I will try post updates as this trade progresses.
I wish you all the best of luck!!
Note: BCH generally goes in the opposite direction of BTC, so it may be helpful to pay attention to what is happening on both charts.
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Trade active
We have a break! looking to enter at a retest of the trendline it just broke. This will allow us to limit losses if this goes the wrong way.Also, watch for resistance in the 1355 area.
Good Luck!
Note
possible ascending triangle. will add to long at break upwardsNote
Possible break in the Wedge! Look for support along the top of the previous trendline. Could be a setup for a great scalp none the less!Note
IF BTC starts a retracement.. this could get interesting
Creator of DepthHouse Indicators on TradingView!
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↣ depthhouse.com/
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