First of all, thanks for following me. I just started sharing my analyses here and I see new followers every day. :-)
After our profit with Bitcoin Cash last week, I provide you with this chart to make things a little bit clearer for Bitcoin Cash next months. What we see is a very clear trading channel. We have seen one correction so far and it bounced the first fibonacci level perfectly. (Second green line)
I'll buy a small position at 1635, buy more if we hit the 18ma (purple line) and I'll buy my last and biggest portion when we are trading in the bottom of the channel. The great thing about this strategy is that we bring down our average purchase price.
I'll take a small profit at 1915 to protect my profits and I'll take a second profit at the top of the channel.
Buy 1: 1635
Buy 2: 18ma
Buy 3: Bottom channel
TP 1: 1915
TP 2: Top channel.
SL: Below trading channel
At the time of writing, I already have a small positiion in Bitcoin Cash .
Please, follow and like for more trading ideas.
Questions? Just ask and your feedback is welcome.