Back again to make sure you don’t miss profits or opportunities.
We have just closed our previous BTC/USD trade with profits on both sections. We are looking at taking a nearly identical trade here, using the same analysis. Its really this easy.
Our analysis Friday (See below in related articles) was spot on with price consolidation below the 200EMA (Green Line). We have now seen a Break of the 200EMA and made profits from the resulting breakout. (A bit more would have been nice). Price has now pulled back the 200 EMA again and this time is also testing the 38.2 Fib level (Overlaid) and is starting to head up again. We have the chance to repeat the trade and use what we have learnt.
We can see the current bar is now getting a long tail on the bottom as price rises, creating a Low-Test bar (Orange Arrow Below). If the bar closes above 10,400, then we can consider it Bullish. The Aggressive entry is to buy it there, its aggressive and HIGH Risk in this market.
The conservative Entry is to wait and buy at the high of the bar with Stop Loss below the bar and the 200 EMA.
Conservative Entry $10,640 or above Conservative Stop Loss $10,100 Targets Just before the yellow lines at $11,121 and $11,979.
To make Dollars your decisions need to make Sense. Leave the aggressive entries to the pros. They know how to apply more discretion to trades and get it right. Remember tomorrow most of the bigger traders will be back and BTC is likely to bounce around a bit.
Quote of the day
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful
Komen
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As you can see the previous bar closed above 10,400 so we can now consider the movement bullish.
The aggressive trader would of opened a position here.
The conservative will be waiting for price to reach 10,640 or above.
Komen
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So far we have got BTC right everytime, be interesting to see if we can do it again. You can still enter this trade around these levels.
Komen
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WE just need to get a bar to go and then close close above the 10.873 level and we will be on our way to Target 1. If you are conservative can lighten a bit at the level.
Komen
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There we go, nearly there now
Komen
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Bitcoin is looking very positive at the moment, sitting on the 11K level will attract money to the market place today.
Komen
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On the way to target 3!
Komen
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Once again we have hit target 1, please make sure you bank your profits