Bitcoin Cash trading opportunity coming soon

٢٦ سبتمبر ٢٠١٨

Keeping it simple. Short the resistance (red rectangle ) or Long the support (green rectangle )

I'll wait for the trade to come to me. R:R is fantastic for both scenario (see chart)

٢٧ سبتمبر ٢٠١٨

تم فتح الصفقة

٢٧ سبتمبر ٢٠١٨

ملاحظة

Short order filled (on Bitmex).

Immediate 3% rejection from the red rectangle (good sign)

٢٧ سبتمبر ٢٠١٨

ملاحظة

I'll lock in profit for 50% position at 0.081561 and will also move my stop to entry there.

٢٨ سبتمبر ٢٠١٨

ملاحظة

I posted the update on this trade 13 hours ago in the comments section of this idea by mistake rather than posting it here. So here it goes...this is what I did 13 hours ago:

As planned, closed half at 0.081561 with 11.24% profit.

SL at 0.089206 (bottom of red rectangle) which gives me a nicer and better evolving R:R

٢٨ سبتمبر ٢٠١٨

ملاحظة

Zooming in on Hourly chart, I see price has been consolidating at support for long. Usually this means trouble, but majority of the candles closed below support. I am being more risk-averse here and closing another 30% position. This means I am only left with 20% of my position open, so no need to sweat if it goes against my direction.

١ أكتوبر ٢٠١٨

ملاحظة

I see a descending triangle on D1 timeframe, so chances are higher for a break down. Green line acting as support currently and red line is resistance. Price has been consolidating at support for a few days now. I have moved my SL to entry for my remaining 20% small position.

٥ أكتوبر ٢٠١٨

تم إغلاق الصفقة يدويًا

Following up on my last update, price broke below support (green line at 0.079122) as expected and is currently staying below this level. Having said that, On D1 timeframe, I see a bull flag forming (also a bullish wedge) - see chart. This trade has already generated very good profit (overall 13.80% profit) which I do not want to give away. Cutting my remaining 20% position here before target.