BTC Daily reversal candle + Rsi Divergence on smaller timeframe

2 Apr 2018

Interesting spot on the BTCUSD chart.
- Yesterday daily candle had a small body and long wick, almost a shooting star candle.
- Today we had a higher daily low already.
- On the smaller 6h chart we a double bottom and there RSI bullish divergence.
- Last thing to mention. The move from 7750 to 7000$ was violent and fast. Usually this type of moves tend to leave a ''gap'' and the price will fill that gap at some point in the future

I will enter the market if we get a 6h close between 7000-7150$.
Stop loss 6740$
Target 7740$

2 Apr 2018

Nota

About the daily candle, I meant hammer not shooting star

2 Apr 2018

Dagangan aktif

I entered the market around 7050$

2 Apr 2018

Nota

Just noticed that there is a falling wedge as well in the H4 chart and it has already breakout. Not a big deal but still something to take in consideration. Let's see how the market will move...

3 Apr 2018

Nota

So far so good. I keep holding the 100% of my position till the target of 7700$.
Stop loss is moved to almost breakeven at 6980 (daily lows)
This trade is risk free from now on...Enjoy!

4 Apr 2018

Dagangan ditutup: hentian tercapai

Trade is closed. Fortunately the trailing stop got hit at 6980$ and we took an almost breakeven position. It seemed like a big win till last night but the market had other plans. This is why you should and reducing your risk during a trade.