1) Great run up as BTC made new all time highs and pulled the rest of the crypto space along.
2) Sharp counter-trend moves like these usually signal the trending phase is over. Notice how the price bars go from orderly to sloppy in both directions.
3) A trading range starts up again. Volume decreases in a trading range: you can see the bars becoming more uniform.
4) Price tests the highs and gets rejected.
5) Range expansion to the downside.
Entry: anywhere up to 630-660
Stop: $25 higher from entry
Target: ride it until price stops trending downward
2020 stats on this trade:
74 total trades
47% win rate
2 profit factor
2) Sharp counter-trend moves like these usually signal the trending phase is over. Notice how the price bars go from orderly to sloppy in both directions.
3) A trading range starts up again. Volume decreases in a trading range: you can see the bars becoming more uniform.
4) Price tests the highs and gets rejected.
5) Range expansion to the downside.
Entry: anywhere up to 630-660
Stop: $25 higher from entry
Target: ride it until price stops trending downward
2020 stats on this trade:
74 total trades
47% win rate
2 profit factor
Note
The trade started slow, but we caught a 5% move so far! Going to keep riding it until the move ends.Note
ETH went into a trading range, but price got a clean rejection from the highs. Still sticking with it.
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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.