Very simple Bitcoin/Crypto Trading Strategy for Weekly ChartVery simple trading strategy for weekly charts.
Buy:
After close of 2nd green candle in weekly chart
Sell:
After close of 2nd red candle in weekly chart
Take profit:
Next short/long?
Stop loss:
Open of the first green/red candle? Maybe lowest/highest point of the first green/red candle?
I did some backtesting without stop loss and take profit with this settings:
Initial captial: 1000$
Order size: 1000$
Pyramiding: 0
Commission: 0.5%
For 2016-now the strategy would've made a profit of 419%. If you always invest 100% of your capital (so start capital + all profits) the profit should be higher then simple holding bitcoin. Profitable trades 46%, Avg Trade 15% profit.
Let me know what you think about this strategy. Maybe there is room for combining it with an indicator to increase the amount of profitable trades.
Backtest for 2018-now:
Simple
AUD/CHF 7:1 RISK REWARD SETUPAUD/CHF was trending down for a very long period of time. Had a strong pullback and is now starting to form a double top. With the huge bearish push from the first time it touched this zone in comparison to the slow climb back to the same price level. I believe the bears are still in control, price just coming back to collect some more orders to make the push downwards.
This all being said we have a perfect short setup here following the double top as long as this rejection occurs cleanly.
Happy Trading! :)
Nobody wants pizza Beside the fact that Coronavirus is crushing stock prices - Dominos has been in a long painful correction since better than expected Q4 earnings, taking it's price to ATH and testing new ground. Price has broken through the descending channel shown, turning this into the upper axis of a flag pattern, the lower axis being support at 334. A close below 334 will give us that last push down, if support holds I imagine price will continue into the triangles boiling point.
BE GREEDY WHEN OTHERS ARE FEARFUL - LONG SP500 - TP 3000!!!Warren Buffett: Be Greedy When Others Are Fearful.
If you have followed me and you will know in my previous 2 posts, i have made money & i will keep on making more.
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Based on MTF analysis, 4H 1H 15M has shown pre-divergence, and i am going to enter my trade based on 5M chart.
For the time being, just waiting for WAVE #5 to be formed, and i will go in aggressively.
Do take note, SP500 might continue to go lower, since the virus outbreak is getting worst in Italy. Do set your CL tight and chill.
I will start taking anything below 2600 level, and do short-term trading based on support & resistance level shown in the chart.
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