Most of the time we don't like to take intraday trades, BUT in sideways action that might be the only way to make money.
OUr signal came in at 8300, we entered at 8301. Our stop loss is at 8200 and our target is at 8500-8700. At a 2:1 reward ratio this is the type of setup we are looking for.
If BTC closes above 8500, we will immediately put our stop at 8500 even though we will most likely get kicked out quickly but in order to make money in an intraday period you have to take profits. If we are still in we will trail very tightly and have a hard limit at 8700. If it goes beyond that c'est la vie.
OUr signal came in at 8300, we entered at 8301. Our stop loss is at 8200 and our target is at 8500-8700. At a 2:1 reward ratio this is the type of setup we are looking for.
If BTC closes above 8500, we will immediately put our stop at 8500 even though we will most likely get kicked out quickly but in order to make money in an intraday period you have to take profits. If we are still in we will trail very tightly and have a hard limit at 8700. If it goes beyond that c'est la vie.