There is a nice buying opportunity on Bitcoin at the moment TP in approximately 4 hours time.
I have backtested my strategy thoroughly, I mainly use it on Forex. I look at the two most recent buy signals and draw a sell support line between the two and extend it, I also repeat this for the two most recent short signals and draw on the the buy resistance line. I use these two lines to look at where the current market price is. I'm checking to see that the price is above the resistance for longs or below support for shorts. Depending on which side of either line we are I then check my 9 State Model anything above >0 is a good time to sell, and anything below is a good time to buy. I then wait for the trade to go into profit and move the stop loss to the low on the H1 or D1 and trail the stop loss depending on what timeframe I am trading.
I have backtested my strategy thoroughly, I mainly use it on Forex. I look at the two most recent buy signals and draw a sell support line between the two and extend it, I also repeat this for the two most recent short signals and draw on the the buy resistance line. I use these two lines to look at where the current market price is. I'm checking to see that the price is above the resistance for longs or below support for shorts. Depending on which side of either line we are I then check my 9 State Model anything above >0 is a good time to sell, and anything below is a good time to buy. I then wait for the trade to go into profit and move the stop loss to the low on the H1 or D1 and trail the stop loss depending on what timeframe I am trading.