BCHUSD Underlying very strong consolidating above old structure
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BCHUSD BCH Dollar Risk and Reward Approaches
Consolidating gains above old structure - really strong
looking and likely to turn up again soon. Ideally it will come back to 1516 and maybe 1461 but looks so far like
1516 will be the lowest it will go. Stick an order in with a stop below 1440. Or stick one in at 1446 - less chance of
getting struck but also lower risk with a stop below 1440. And it may even turn from here around 1548 as there is a
little support here too...up to you...if you can handle the pain of potential drop to lower levels and are prepared to
leave the stop below 1440 it's coming so close to grabbing some, a small position. It can also travel all the way to
the lower parallel by moving sideways to mildly down (ideal situation) but we may not see that. Either way this
coming very close to buying. Different options depending whether you are an old bull prepared to wait or a younger
bull who will sometimes be spot on and sometimes will jump the gun a little. Whatever, it's close to the lows now
with 150 max downside and 450 upside, probably more longer term.
Consolidating gains above old structure - really strong
looking and likely to turn up again soon. Ideally it will come back to 1516 and maybe 1461 but looks so far like
1516 will be the lowest it will go. Stick an order in with a stop below 1440. Or stick one in at 1446 - less chance of
getting struck but also lower risk with a stop below 1440. And it may even turn from here around 1548 as there is a
little support here too...up to you...if you can handle the pain of potential drop to lower levels and are prepared to
leave the stop below 1440 it's coming so close to grabbing some, a small position. It can also travel all the way to
the lower parallel by moving sideways to mildly down (ideal situation) but we may not see that. Either way this
coming very close to buying. Different options depending whether you are an old bull prepared to wait or a younger
bull who will sometimes be spot on and sometimes will jump the gun a little. Whatever, it's close to the lows now
with 150 max downside and 450 upside, probably more longer term.
Anmerkung
BCHUSD UpdateIt would be helpful if BCH drited sideways for a while longer
to meet the lower parallel and then fied upwards from there,
giving a good entry point. Maybe it still will. But don't want to
miss this break to upside if it doesn't do the perfect thing for
us. A break of the upper dynamic that marks out the triangle
can be followed if we don't get a better entry point from
lower down. Stops will need to go under the same line in the
sand, under 1559 if we see this break today.
Anmerkung
Young Bulls win this one - Hands down. Yeeeha ! There is no right way. Just profile. Anmerkung
Further to Above: ERROR on the chart above, shows the incorrect line triggering longs, which, for the record, is shown correctly two charts higher up and now on this one, corrected... so both bulls, young and old got this. Excellent. No squabbling.Anmerkung
OMG. Turn away to cover BCH (have you seeen that perfect set-up and break? Check all these ones: Dash, BTCUSD and ETHUSD becasue it's not all about Bitcoin.) It's about spotting breaks, set-ups and trading them all. Anyway Bitcoin ...look at that FFS. FFS. It was abuy there, back to the structure I told you about earlier. Boy this is simple. If only I could keep up! Thank you universe. Do you not SEE with your own eyes wht's happening? Because it's free out love. Now go and share your love with others. OKAnmerkung
Stick a stop on this long just under the blue line pleaseAnmerkung
Remains of the DayGot to leave it here. We made a fairly easy 200 to 300 points from the start of the move up to 9200 as it touched the parallel which turned out to be dud - so strong was the buying power it surged way higher and was a struggle to get back in, with strong possibility of gettng stopped out by too tight a stop for 20 to 30 loss. Doh. If you used the parallel like a sensible fellow you got a great reward on top, maybe another 100 points or more...did you see that the actual high of the day was capped by that same parallel that started out as a dud when price shot through it at 9200? That was a cool trick, Bitcoin! Look at the chart...And then we lost another 10 points on another OK trade (signal Ok) that went wrong anyway. So not great but still 150 points minimum and 300 even 350 if you spotted that top under the parallel _ I didn't until too late. Too busy with ETHUSD (plus 5% minimum, bought off day's lows) and BCHUSD (up at least 15% even if stopped out and if not much more, catching the break really perfectly) and Dash (biggest disappointment after the breakout looked so strong, with zero returns today but still up 110% on our buy price 24 days ago). This adventure began full-on on 3rd November. There has so far not been a greater loss than 100 points on Bitcoin at its wildest. ost are small losses, contained by stops which are both good and bad sometimes. It's extremely annoying. But that is the price we pay for prudence in mad world. Hell of a weekend. Hope you enjoyed the ride.
Anmerkung
BCHUSD Back in buy zone 1682-1670 with stop below 1665 for small loss if wrong
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