BTC Day trade #8New entry, TP, and SL
Day trade #8
Long
Daily results thus far: +5R (My actual results of trades I opened today: -1 R because I missed 2 profitable calls while out)
I am testing a strategy and will be posting All trades taken with it here.
This is data gathering and strategy may change. These are actual trades I am taking.
Testing has been positive so far, and now it is time to live test.
Provided for educational purposes only.
Weekly Statistics Prior to Sept 28:
Sept 21 - 27
R:R is 1:3 on all trades
Total trades taken 28
Trades closed at TP: 12
Strike rate 42.8%
Total R = 20
Test
$TEST (FLUROTECH) - TEST, 4H : #1Probably messing something up here but this is why I keep making charts, UI practice, testing theories and gradually adding more data to each chart as I learn.
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I am trying to visualize the price action as if I were entering a position based on the data until I am confident enough to do it in the market.
DISCLAIMER: I AM PERSONALLY GOING LONG WITH DOGE BUT WANT TO TRACK/TAKE NOTE OF PRICE MOVEMENT IN DIFFERENT SCENARIOS, MORE THAN ANYTHING ELSE, WHILE LEARNING TO USE THE TOOLBOX + LEARNING TECHNICAL ANALYSIS .
These are just theories I am testing out to see what I need to adjust based on results.
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Leave me a comment if you see something I need to change, I'd appreciate it.
THIS IS NOT FINANCIAL ADVICE.
SNDX - Syndax Pharmaceuticals - Loyal to the base bounce?First of all, I'm in love with this chart, not like a friend, but like a secret admirer whilst in high school going thru my hormonal changes. Syndax Pharmaceuticals has consistently shown great loyalty to the bounce when it reaches lower levels, close to or under it's support. This Pharma stock has shown to have great support at about $8.00. SNDX has a couple products out right now that are in testing phases, Entinostat and the SNDX-6352. The recent 25% decline was due to the Phase 2 of the study being "unimpressive". This trial however, serves as a base for positive results for phase 3 trials, which is coming up soon. We should see some consolidation at this level until the results are provided, then a possible jump. Make sure you take profits!! We're looking at a target price on the low end of $12.00, and as high as $18.00. SNDX is currently sitting at $7.03 as I'm writing this.
EURUSD [Daily, Long] False Break/Failure TestMarket has been in a range from the 1.163 level to 1.207 level. Price action towards support at 1.163 is clean. Price took out the previous candle structure low on 7 Nov 2017. There was strong price rejection following this. Sellers who short the break of the support are now trapped, many would sell off their position when price goes to breakeven, fuelling the buying pressure.
Entry: Market order of 1.16373
Stop: I placed a more aggressive stop loss just a few wicks below the candle structure, referenced on the 4hr timeframe as that is where my trade would be invalidated. Also to trade with a larger position to fulfil a 1:2 risk reward ratio.
TP: 1.19 as I foresee price rejection at this region due to resistance.
Pull Back 15 Minute ChartLooking at the chart I felt that since the trend is now going down, and there seems to be a test level and that since there happens to be a shark pattern going on that the trend should retrace back up, so I placed my stop loss 2 bars down and placed my buy limit right where the market should test with a retracement back up coming and take profit way up.
Cad chf short preferedAfter several tests of the s/r zone we just tested it again and now we are close to another smaller support which was a resistance before (s/r zone) and we are able to draw in a trendline to the upside with 3 touches .
Now we have our set up with double confirmation if it gets triggered!
I will wait for a break n close through the support and trendline to the downside to enter a short trade .
If this scenario not happens and we see price go up instat of dropping i would consider a long trade after a break n close of the s/r zone to the upside .
But as i really prefer the downward move here i would just go long with 1/2 position cause in the daily we are still in bearish territory since round about start of the year.
TRON FINALLY DEFYING BITCOIN, WILL IT LAST? TESTNET PREDICTIONTron is holding $.04 and seems to be building up for the testnet launch. In my opinion, the price will not shoot up much with the testnet launch, but we will see growth. My prediction is that bitcoin will fall to 6k levels, so we need to see if tron will follow bitcoin like it has in the past. So far it has been holding very well compared to bitcoins dip.