Bitcoin fake out to the downside. Asleep for upside breakout.
Well, the break to the low side was a fake out of the wedge pattern.
Dragging stops is important after a breakout. A good breakout with momentum will not return for days.
The confirmation of the second low on the wedge pattern was questionable. It didn't quite meet my criteria but I went with it.
Price dropped and soon returned back towards the lower trend line. This was a warning that the break really lacked momentum.
Of course I was asleep when price rocketed straight through the pattern to the upside. Not a massive move so far.
Well, on to the next. Can't win them all. Perhaps I should wait for the perfect pattern to trade.
I'll keep you posted on what I see developing over the next few day.
Dragging stops is important after a breakout. A good breakout with momentum will not return for days.
The confirmation of the second low on the wedge pattern was questionable. It didn't quite meet my criteria but I went with it.
Price dropped and soon returned back towards the lower trend line. This was a warning that the break really lacked momentum.
Of course I was asleep when price rocketed straight through the pattern to the upside. Not a massive move so far.
Well, on to the next. Can't win them all. Perhaps I should wait for the perfect pattern to trade.
I'll keep you posted on what I see developing over the next few day.
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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.
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.