Classic Bull Flag - Now I go long again!
Traders,
Though the overall market sentiment obviously still remains extremely bearish, I am now most invested in longs than I ever have been since I started my $10,000 portfolio project. Yesterday, I bought Ethusd at the bottom of its daily wick and today I have picked up some BTCUSD.
Thus far, playing against sentiment has worked out handsomely. You'll remember (or maybe you won't unless you follow me elsewhere) I went long at the bottom of the wick on the 13th. Many were crying that this was it. This is the time we got to 14k or lower. I bought. I won.
Then again, just before the weekend, I went short. Now, my timing was off on that play. I thought we'd be more bearish during the weekend. We weren't. So, I held longer. Tightened my stops. And was stopped out earlier than my take profit. Which turns out to be okay cuz my TP was actually the 50 day ma and we wouldn't have formed this nice little bull flag here (red arrow) had my TP actually been reached.
And now, because support is being held on this nice little bull flag even in the midst of the bears coming back out yesterday again, I am going long.
TP yet to be determined but I am thinking somewhere around that 200 day.
Best to you and your trades,
Stew
Though the overall market sentiment obviously still remains extremely bearish, I am now most invested in longs than I ever have been since I started my $10,000 portfolio project. Yesterday, I bought Ethusd at the bottom of its daily wick and today I have picked up some BTCUSD.
Thus far, playing against sentiment has worked out handsomely. You'll remember (or maybe you won't unless you follow me elsewhere) I went long at the bottom of the wick on the 13th. Many were crying that this was it. This is the time we got to 14k or lower. I bought. I won.
Then again, just before the weekend, I went short. Now, my timing was off on that play. I thought we'd be more bearish during the weekend. We weren't. So, I held longer. Tightened my stops. And was stopped out earlier than my take profit. Which turns out to be okay cuz my TP was actually the 50 day ma and we wouldn't have formed this nice little bull flag here (red arrow) had my TP actually been reached.
And now, because support is being held on this nice little bull flag even in the midst of the bears coming back out yesterday again, I am going long.
TP yet to be determined but I am thinking somewhere around that 200 day.
Best to you and your trades,
Stew
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
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