Hello traders!
Trading bitcoin at this time is becoming more and more difficult because volumes are decreasing and thus we are getting into a larger consolidation that accumulates a number of orders that sooner or later decide to create a large volume candle in one direction or the other.
The question is where, we will never know, but we can open positions in both directions, but we need to find a suitable opportunity to buy and sell, from which we can assume that the M15 is currently in consolidation and that is why I have marked the zones where I would like to look for a buying opportunity as well as a selling opportunity for such a consolidation, always pay attention to a good distribution of TPs so that you do not have to close any of the positions at a loss if the price turns against you, if it helps us to open positions in both directions and then a breakthrough comes, we can make good money.
IMPORTANT WARNING:
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Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
Trading bitcoin at this time is becoming more and more difficult because volumes are decreasing and thus we are getting into a larger consolidation that accumulates a number of orders that sooner or later decide to create a large volume candle in one direction or the other.
The question is where, we will never know, but we can open positions in both directions, but we need to find a suitable opportunity to buy and sell, from which we can assume that the M15 is currently in consolidation and that is why I have marked the zones where I would like to look for a buying opportunity as well as a selling opportunity for such a consolidation, always pay attention to a good distribution of TPs so that you do not have to close any of the positions at a loss if the price turns against you, if it helps us to open positions in both directions and then a breakthrough comes, we can make good money.
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
Note
Here you can see how the beautifully marked zones react, in most cases there will be at least some indication of movement that there are buyers and therefore it is important to set the right signal for entry to pick up such movement.
Because for successful trading you need to know the place where the price can turn (analyzed TF), you also need to know the reason why it can turn there (higher TF) and then the signal that confirms to you that now is the right moment to enter (lower TF).
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.
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.