What Bitcoin can do now?
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Both SHSformations (two orange lines indicates parts of this formations) fulfiled classically around 60% (not 100%). Another one is formed (red line is decision line), but will be played if price will go below. On contrary, as longterm trend in BTCUSD is still valid, we should now see forming of triangle, or some kind of ISHS formation, or wave 1 in 5(higher tier) and after this wave some triangle or flag formation. So before takinkg positions (long or short) we must look if this conditions will be drawn by market on our charts.
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I'am on board since 4310, first target 4500
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15min chartملاحظة
SL of course i set to entry point, as this wave can end every moment.ملاحظة
i took 50% of position profit @ 4410 as divergence occured on 3minملاحظة
I show this all of us to show how scalping is possible in good market circumctances. But this platform (i mean TradingView) is not to signal so fast trades unfortunately. But of course i signal somethimes not scalping entries, but for me this entries are not so comfortable as scalping:)ملاحظة
oh i forgot that 50% sold @4410 was retaken @4370, SL for this position quick in entry point.ملاحظة
and hard TP set to 4470, for 25% of position taken @ 4310 TP set hard @ 4520ملاحظة
I dont wait for 4470 for this position to hit TP as some dumps active, so trade closed manually @ 4422, so i stay with initial 50% of position taken @ 4310 with SL now in entry point. Half of this position (so 25% of initial) have TP @ 4510, second half @ 4660ملاحظة
TP not hited this night (sigh 10 f...in dollars), so i move TP to 4650 for the whole position.ملاحظة
Both positions go to my midterm holdings, so SL in entry points 4310USD and TP not established yet, i will decide after price action. If this is 5th wave, shpuld be so dynamic, that this SL should not be tested.ملاحظة
one long position must be closed (i does that@ 4595), and will be rebuyed @ 4490 with SL@ 4310ملاحظة
second long closed @ 4445, rebuyed @ 4385 together with first long.ملاحظة
one of longs closed @ 4483ملاحظة
rebuy planned @ 4390ملاحظة
Thats the reasons of my playSHS formations one by one, the first one gave me 60% move down from it initial point so rebuy was @ 4595, but the second one SHS signalling gave me reason to close 50% of my long, to seek now another 60% fulfiling of this formation (around 4290$)
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My second long (50% of my longs) buyed @ 4310, has of course hard SL @ entry point, and any rebuyed longs will have the same SL.ملاحظة
Sigh:) SHS invalidated, all my hope is now 25% of long entry that i got since 4310, but if formation said me so, i will enlarge my longs here. Must observe.ملاحظة
And i'am on board with new formation of ISHS in play since 4640ملاحظة
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Price target for both ISHSs 61.8Fibo @ 5050USD, full @ 5300ملاحظة
SL is for now 4450ملاحظة
I use this SL for my previous partial long from 4310$ if something will go wrong this position covers losses.ملاحظة
position held from 4310 closed @ 4598, i stay only with those taken @ 4640 (ISHS still valid but under fire), even if SL @ 4450 will be hited i'am on solid profit.ملاحظة
Huh:) it's really shame that i closed that long, i hope that long @ 4640 give good results.ملاحظة
Will Mr. Market draw charts like this? I vote for it.ملاحظة
This market is so volatile, SL hited i'am out of short and midterm positions here. So i'am back to observe mode.ملاحظة
All of ISHS formations seems to be invalidated, but we must wait for 1H candle close, or closing candles after that.ملاحظة
I'am back in market as i see shorting possibility. I take now short @ 4120 with first target 3940, second 3700ملاحظة
i use now this bearish breakout of triangle.
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SL must be @ 4380ملاحظة
As this SL give low Risk reward ratio i will move SL to entry point after price will hit 3900-3950 area with no profit taking. 50% of position i will close in 3800-3850 area and the rest in 3650-3700ملاحظة
I must set SL in entry point now, as i leave market observing for few hours. Chance for this positions to hold are small but who knows.ملاحظة
And SL saved my capital once again, this time with no loss. Waiting for another market signals.
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