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Virtuestrading

New Highs Readied for BTCUSD?The price action is setting up for a renewed bullish move up. Our entry rule must be met in order to go long. The rule is: the price must trade at or above the 'A' value line of 17850 for at least half the Opening Range of 30 minutes. So, if in 15 minutes the price completes this action, we can go long. Then place stop loss at the Opening Range low of 17734. Stay tuned. If the price holds support above the Pivot Range (blue dots) the rally could ensue, and to new highs.
COINBASE:BTCUSDEducation
by chris333
4
Update to "Go long BTCUSD"-Trade Management Risk:Reward is 14:1 This chart will give you a better view to the ongoing trade "Go Long BTCUSD", with all indicators in visible (Pivots, Opening Range) to see the trade progression, trailing stop losses and profit targets. What you are seeing here is trade management. By managing the trade properly we are able quickly eliminate the risk of the trade being a losing trade, by bringing our stop loss to close to break even very soon after our entry. From there we simply trail stops to key support levels as well as taking partial profits at key resistance levels. This allows for the trade to be a comfortable experience by enjoying the booking of gains and the continual reduction in risk of losing profits.
BITSTAMP:BTCUSDEducation
by chris333
3