1) A violent drop of 25% in a single day...
2) ...had absolutely zero follow-through and ETHUSD went back into a range.
3) The trading range expanded to the upside sooner than anticipated, and we're back into a bull trend!
ETH is so much stronger than BTC right now, as you can see from the ETHBTC chart. Thus, we want to get into ETH sooner than BTC as we think there's more upside there.
Entry: immediate
Stop: $75 below entry
Target: stick with it until the trend changes down
The strategy results are from 1/1/2020 to current. If you use the 1% risk rule with 0.1% Binance fees, you would've gained (43 trades * 60% win rate * 3.9 profit factor * 1%) = 100% profit in 2020 trading this strategy.
2) ...had absolutely zero follow-through and ETHUSD went back into a range.
3) The trading range expanded to the upside sooner than anticipated, and we're back into a bull trend!
ETH is so much stronger than BTC right now, as you can see from the ETHBTC chart. Thus, we want to get into ETH sooner than BTC as we think there's more upside there.
Entry: immediate
Stop: $75 below entry
Target: stick with it until the trend changes down
The strategy results are from 1/1/2020 to current. If you use the 1% risk rule with 0.1% Binance fees, you would've gained (43 trades * 60% win rate * 3.9 profit factor * 1%) = 100% profit in 2020 trading this strategy.
Note
Look out below! We hit new all time highs, and then proceeded to dump again. But the trend still remains intact, so we're still in the trade.Trade closed: stop reached
Took a 7.7% move loss. Trading is living to fight another 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.