Hello Friends.
As you can see there an ascending triangle is developing on the 4h window. Historically these break to the upside at about 66% of the way.
Option 1: Trading strategy --> If we see an upside break out, I will enter into a long BUT I will WAIT for re-test @ Breakout (@6500)
Targets: @ Long term resistance... It is however conceivable that given enough momentum, BTC MAY break downward resistance, and at that point I will WAIT for a bounce off / or breakdown on the long term resistance to then enter into long or short position.
Or
Option 2: Trading strategy --> If we see an downside break out, enter a into short with targets set at 6250...
Usually I dont post my trading strategy, maybe more to come.
With that said, this isn't all that hard to do, its just about keeping your options open and not becoming overly bearish or bullish.
Updates to follow... Keep Calm
As you can see there an ascending triangle is developing on the 4h window. Historically these break to the upside at about 66% of the way.
Option 1: Trading strategy --> If we see an upside break out, I will enter into a long BUT I will WAIT for re-test @ Breakout (@6500)
Targets: @ Long term resistance... It is however conceivable that given enough momentum, BTC MAY break downward resistance, and at that point I will WAIT for a bounce off / or breakdown on the long term resistance to then enter into long or short position.
Or
Option 2: Trading strategy --> If we see an downside break out, enter a into short with targets set at 6250...
Usually I dont post my trading strategy, maybe more to come.
With that said, this isn't all that hard to do, its just about keeping your options open and not becoming overly bearish or bullish.
Updates to follow... Keep Calm
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We brokedown! Hope you got your short position in!
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Target around 6280
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Wasnt that easy :)
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Position Closed @ 6360 Not enough downward momentum
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Caught the bounce to 6400. Continued movement towards target area.
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watch for rebound off bottom of previous ascending triangle for another easy short opportunity
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Position closed. Wait for new trading strategy
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total profit = .04xbt not a huge profit but not a bad day