So You Want to Catch A Falling Knife Part 3

This is a continuation of Part 2 where we bought in at 7337 from the recent fall from 1200 area.
It seems that I'm very much in sync with the market right now - I'm not saying I'm always right but my calls have been bang on so far so lets take advantage of this while it last.

First thing - trade at your own risk, I employ strong money management in my ideas. Money management is more important than getting it right or wrong in the trade, especially for new traders. Follow the ideas closely because I move my stops to lock in profits and limit risk.

If you have been following me, from the start, you have bought in at 7337. I had a lot of request for how to get in if you missed this entry and I advised 8300.
Set your stop at 8100 to lock in profits and limit losses.

I have mapped out the major resistances that we will have to pass to confirm a long term up-trend. Although we have profits locked in, the ultimate goal is to have a long term position in BTC, thus WE ARE STILL IN THE WOODS! Don't let your guard down one bit.

Link to part 2 below.

Here is a summary of what has happened so far, I hope new traders can get some insight on the thought process of trading and looking for setups from this.

1. March 11: A High level view of an up-coming opportunity to catch the knife at the low 7000s area

2. March 15: Identified a Falling Wedge Formation

3. March 16: Signaled to buy when the price hits the bottom of the wedge (which we published to buy at 7337)

4. March 20: Signaled to buy the breakout of the flag on the upside if you missed the wedge entry

5. March 21: Forecasted a Pullback to the 8300 Levels and signaled a buy at 8300 for the ones that missed the trade

We are now here:

Trade with care.

コメント:

So far so good, we are holding the price above the wedge.
It's bad news bears for us if we see it go back in.

コメント:

This is showing us a more complex correction than expected.
Like I said don't let your guard down.

I'm moving my stop loss 50 points lower to 8050 because of the follow possible bullish scenarios.

コメント:

morning update.
I'm watching to see how the price unfolds.
There is a decrease in selling volume. I'm looking for something like this...

トレード終了: ストップロスに到達:

We are stopped out of the trade by either a small profit or a small loss depending on when you entered.

I will wait in the sidelines for the next entry.