Possible Long Entry and Reversal of Pullback
Updated
As indicated by vertical line on indicator KDJ
the K or base stochastic is printing a higher low and
and is expanding from a point where the 3 lines have touched
I had a long position that closed in loss and now open long 110% the size of previous position
Remember the overall trend is bulish this is just a normal pullback for btc
set stop limit at 15900 for 50% position then limit buy at 14100 as it sounds to be a level most people are looking at as a fib level
I believe we are seeing some "weekend" effect as home traders are fans of shorting BTC , as USA prepares for thanksgiving
but corporations are not sleeping , they probably have a bit of limit buy orders in place and after thanksgiving the rocket goes up again
the K or base stochastic is printing a higher low and
and is expanding from a point where the 3 lines have touched
I had a long position that closed in loss and now open long 110% the size of previous position
Remember the overall trend is bulish this is just a normal pullback for btc
set stop limit at 15900 for 50% position then limit buy at 14100 as it sounds to be a level most people are looking at as a fib level
I believe we are seeing some "weekend" effect as home traders are fans of shorting BTC , as USA prepares for thanksgiving
but corporations are not sleeping , they probably have a bit of limit buy orders in place and after thanksgiving the rocket goes up again
Note
The buy signal from KDJ was more clear on my trading app (B.)dont know how this KDJ is done on TV, it calculates the KDJ lines a bit different from what I get in my trading app
Note
did manage to close with trailing stop at 17300 and switch to short
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