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My trades for the upcomming hours (BTC) (short term, 1hr chart)Today no major update, fundamentals still great, waiting on the ETF news and looking closely to the 6.8K level like everyone else. Will not write about how important that 6.8K level is because that’s clear now (everyone speaking about it). Today I would like to share some trades I’m going to make in the next days: -So I expect a small rally before the ETF decision on august 10th. Nevertheless I expect nothing major… -Saw a lot of people on twitter, etc… talking the bear flag on the 1hr chart, to be honest it was a schoolbook example for a couple hours but in the last few hours, BTC has broken the trendline (as expected) but found support at 6.87K for a few hours now. So we can not speak about a ‘clear’ bearflag anymore. - - we've found support at 6.875K 4 times today -The boilinger bands are telling us that BTC price is ‘to low at the moment’. So we saw in the past that the boilinger bands are a great indicator short term. We’ve broke the support line at the bottom of the boilinger band so I expect a small rally. -We are hugely oversold RN. Orders Pos 1: So I will put my order at 6.9K. and my next target is just below our prevouis resistance at 7.15K. this could be a possible profit of 3.7%, with a small leverage +/- 10%. Pos2: If we break below our 6.87K we are going to bounce at the 6.8K level. I think that find support just above the 6.8K because a lot of people put their shorts just above that level. I expect a lot of people putting it at 6.8K so I expect there a small bounce for sure before we possibly go down more. On that trade we could make something around 1%. Pos 1: Order: 6.9K stoploss: 6.87K next target: around 7.1K possible profit without leverage: +/- 3% Pos2: Order: 6.8K stoploss: 6.75K next target:6.875K possible profit without leverage: +/- 1%. (this is no financial advice) Love to hear your opinion on this! DM's and comments are always welcome. Leave a like if you appreciated it!
COINBASE:BTCUSD
by cheynos
How should we react to this? How I'm going to do it (update BTC)Hello everyone We are still in the greens today, how will BTC react and how should WE react to it? Just a small update on current situation. So as I expected are we still in the price-range between 7.8 and 6.8K . There hasn’t been a massive correction or a upwards trend since the big candle on Wednesday. This is a very bullish sign. This means that even when BTC is heavily overbought, the bears are not strong enough to hold on. The momentum is still going on at the moment, nevertheless, I expect a small correction tomorrow or day after. -Fundamentally has the news never been as good as it is at the moment. Everyone apparently seems interested in cryptocurrency these days (or should I say potentially fast cash?). The talks of possible ETF’s, billionaires buying BTC,… it’s all going great at the moment! how I’m going to trade As you all know: I’m not a daytrader, I’m a long term investor. -I’m looking at the 7.8K as most important resistance + the resistance level that was created in the last bearish months. I’m still thinking that BTC will stay between 6.8K and 7.8K until at least next week Tuesday, then we should have contact with the resistance level. -I put my orders at 7250 , the first important support if you check the Fibonacci retracement. My second order is at 7.1K. This will be my lowest buy at the moment. If BTC stabilize under 7.1K, then I will buy more. Just in case that prices fall massively and breaks below our very important support at 6.8K. - My stoploss is at 6.6K , if it goes under the 6.6K, then are we back where we started. Between the 5.5 and that bloody 6.8K level, the momentum will switch to the bears and prices will go down. Prediction I’m expecting that BTC will stabilize between the 7.2K and 7.5K for the next day or two, if that would happen, that would be very bullish! That means that the momentum is still going and that the bears are still very weak. Then I expect another big green candle and could we possibly break through our next resistance at 7.8K. Give it a like if you appreciated it comments and thoughts are always welcome My orders are my thoughts and are no financial advice!
BITFINEX:BTCUSDLong
by cheynos
GBPJPY Short 4h chartWe might see another opportunity to go short on the GBPJPY now. Will be playing with a rather huge stop loss now due to the fact that I want to give the price room to move. Whats signaling down is the EMA 200 still showing downtrend, the price is close to both a resistance, fibonacci 50 and the top of the channel. RSI doesn't have tons of room to move. The pair also retraces an average of 162.44 pips up before descending again. We're currently at 143 pips retracement. Open position: Opened at: 138.34 Stoploss at: 140 Take profit at: 130 Risk/Reward: 5.02 Orders: Order 1 Execute at: 138.8 Stoploss at: 140 Take profit at: 130 Risk/Reward: 7.5 Order 2 Execute at: 139.3 Stoploss at: 140 Take profit at: 130 Risk/Reward: 13.29
Short
by AndreM.Moldegard-Eriksen
GBPJPY 4h SHORTShorting GBPYJPY due to it touching the channel edges and challengig EMA 200 (4h) and declined by both. The pair is also being close to fibonacci 50, aswell as RSI7 are near overbought. I will close out the current open position if it reaches above fibonacci 50, and look to enter closer to 61.8 and 76.4. Will place the order SLs above fibonacci 76.4, and TP at previous buttom. Will look to enter a bigger short position at a better price later on. Order 1: Entry at 140.97 SL at 142 TP at 138.5 Order 2: Entry at 141.65 SL at 142 TP at 138.5 Open position: Opened at marked SL at 140.7 Tp at 138.5
Short
by AndreM.Moldegard-Eriksen
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