BTC Long to $7350 - 80.9% Profit Potential
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Our last 5 trades have all been green, so make sure to follow the CryptoGuru for more low risk, high potential, trade setup! Let's get this crypto!
BTC has been consolidating between $5800 and $6800 for the past week and a half.
This trade setup is in anticipation of a breakout from the top of the current consolidation range at $6800 with a target at $7350. Trading from these key price pivot points present us with great R:R opportunities!
The target zone has confluence with the 4H VPVR POC, strong horizontal resistance, the Monthly 21EMA, and the Weekly 89EMA, and 0.65 Fibonacci (not shown on this chart) from the impulse move down. Albeit the 0.65 Fibonacci is not a 'traditional' Fibonacci, experience shows that it is a commonly hit number. If you do not have the 0.65 Fibonacci, then add it and give it a try!
This is a simple long support to resistance setup. No need to over-complicate things! We will use candle closes to confirm our entry for this long. This style of trading is much, much, less risky than breakout trading!
For this trade, we are looking for a 2H, 4H, 12H, or 24H candle close above the yellow top side resistance box at $6785. The higher the time frame candle close above the yellow resistance box, the greater the chance for this setup to be a winner! The flip side to waiting for higher time frame candle close is that you may not get a great/perfect entry.
I typically enter after a 4H candle close. Sometimes I enter immediately (depending on price action and volume). Other times I enter after a candle close, upon re-test of prior resistance (in this case at $6785), now flipped to support.
Very rarely do I enter upon breakout, but if volume is high and price action is ripping, an entry may be warranted.
That said, never FOMO! Why? Because there will always be another opportunity! To maximize profits, wait for the 'perfect' setup to come to you. That's how you can help to ensure a high win percentage and maximize profitability! Money flows from the impatient to the patient in this game. Master patience and you'll be one step closer to mastering trading!
This above all, always remember to manage your risk! I do not recommend anyone commences trading until they learn about risk management. There are myriad risk management guides online. As a beginner, I suggest risking 0.5%-1% of your entire trading account on any one trade. Once you begin to become consistently profitable, you can start increasing those percentages to 1%-3% of your entire trading account.
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Entry: 8400
Entry Zone: 6760-6876
T1: 6938
T2: 7044
T3: 7150
T4: 7225
T5: 7350
Stop: 6639.5
--
R:R: 3.43
Risk: 2.36%
Reward: 8.09%
Leverage: 10X
Leveraged Risk: 23.6%
Leveraged Reward: 80.9%
---
Disclaimer:
This is not financial advice. I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. This is for educational purposes only.
Our last 5 trades have all been green, so make sure to follow the CryptoGuru for more low risk, high potential, trade setup! Let's get this crypto!
BTC has been consolidating between $5800 and $6800 for the past week and a half.
This trade setup is in anticipation of a breakout from the top of the current consolidation range at $6800 with a target at $7350. Trading from these key price pivot points present us with great R:R opportunities!
The target zone has confluence with the 4H VPVR POC, strong horizontal resistance, the Monthly 21EMA, and the Weekly 89EMA, and 0.65 Fibonacci (not shown on this chart) from the impulse move down. Albeit the 0.65 Fibonacci is not a 'traditional' Fibonacci, experience shows that it is a commonly hit number. If you do not have the 0.65 Fibonacci, then add it and give it a try!
This is a simple long support to resistance setup. No need to over-complicate things! We will use candle closes to confirm our entry for this long. This style of trading is much, much, less risky than breakout trading!
For this trade, we are looking for a 2H, 4H, 12H, or 24H candle close above the yellow top side resistance box at $6785. The higher the time frame candle close above the yellow resistance box, the greater the chance for this setup to be a winner! The flip side to waiting for higher time frame candle close is that you may not get a great/perfect entry.
I typically enter after a 4H candle close. Sometimes I enter immediately (depending on price action and volume). Other times I enter after a candle close, upon re-test of prior resistance (in this case at $6785), now flipped to support.
Very rarely do I enter upon breakout, but if volume is high and price action is ripping, an entry may be warranted.
That said, never FOMO! Why? Because there will always be another opportunity! To maximize profits, wait for the 'perfect' setup to come to you. That's how you can help to ensure a high win percentage and maximize profitability! Money flows from the impatient to the patient in this game. Master patience and you'll be one step closer to mastering trading!
This above all, always remember to manage your risk! I do not recommend anyone commences trading until they learn about risk management. There are myriad risk management guides online. As a beginner, I suggest risking 0.5%-1% of your entire trading account on any one trade. Once you begin to become consistently profitable, you can start increasing those percentages to 1%-3% of your entire trading account.
---
Entry: 8400
Entry Zone: 6760-6876
T1: 6938
T2: 7044
T3: 7150
T4: 7225
T5: 7350
Stop: 6639.5
--
R:R: 3.43
Risk: 2.36%
Reward: 8.09%
Leverage: 10X
Leveraged Risk: 23.6%
Leveraged Reward: 80.9%
---
Disclaimer:
This is not financial advice. I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. This is for educational purposes only.
Trade active
We closed a 4H above support. Let's get this crypto! Going for 7 winning trades in a row! Go Bulls! May run into strong resistance at the 4H 200SMA (White line). If so, then take some risk off!Note
1H-4H stochastics all erect, which shows bullish momentum, shorter-term.Note
Corrected entry! Damn typos!Entry: 6800
Entry Zone: 6760-6876
T1: 6938
T2: 7044
T3: 7150
T4: 7225
T5: 7350
Stop: 6639.5
--
R:R: 3.43
Risk: 2.36%
Reward: 8.09%
Leverage: 10X
Leveraged Risk: 23.6%
Leveraged Reward: 80.9%
Note
Bullz on parade! Let's get this crypto!Note
T1: 6938 - HIT (20.3% Gain)T2: 7044 - HIT (35.9% Gain)
T3: 7150 - HIT (51.47% Gain)
T4: 7225 - HIT (62.5% Gain)
T5: 7350 - (80.9% Gain)
Let's get this crypto!
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Note
Always important to be grateful for everything in life! Seven winning trades in a row is nothing short of incredible and we thank the market for the bounty we are seeing! I am expressing unlimited thanks for the bounty and we welcome unlimited abundance into our space! (Using Quantum physics and The Law of Attraction!)
I even embrace my losses. Why you might ask. Because losses are inevitable in this game and reviewing loosing trades presents an opportunity for growth!
General Inquiries: t.me/cryptoguru369
Twitter: twitter.com/CryptoGuru369
Twitter: twitter.com/CryptoGuru369
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
General Inquiries: t.me/cryptoguru369
Twitter: twitter.com/CryptoGuru369
Twitter: twitter.com/CryptoGuru369
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.