Firstly, You guys seem to love your crypto on here. I had a look at the "Bitcoin" as you kids call it. The last move up is encouraging. There may be a potential short, but I would be looking for longs only right now. Ok so, I see price relaxing from where it is and would be setting a forward order at the 50% Fib from the current move. This area lines up with several EMA's support zones etc. I'd aim to tuck my stop between the 78.6% and 100% Fib levels. This sets you up for a 2:1 Risk Reward.
Just as a note: I often wonder why you guys are so hung up on trading crypto currencies, I'm not discussing their utility, I see the value in these digital assets as a growing industry. I see bitcoin and the current players like Limewire and Napster back in the day, they defined the arena but did not stick around, larger more venerable institutions took over. What I guess I'm saying, if you guys are so interested in technical trading (clearly) and you are willing to risk your hard earned capital on a platform, why not global currencies or commodities or something fluid in their technical picture and approach? Just my two bitcoins.
1%risk, 2:1RR - Happy Trading!
Just as a note: I often wonder why you guys are so hung up on trading crypto currencies, I'm not discussing their utility, I see the value in these digital assets as a growing industry. I see bitcoin and the current players like Limewire and Napster back in the day, they defined the arena but did not stick around, larger more venerable institutions took over. What I guess I'm saying, if you guys are so interested in technical trading (clearly) and you are willing to risk your hard earned capital on a platform, why not global currencies or commodities or something fluid in their technical picture and approach? Just my two bitcoins.
1%risk, 2:1RR - Happy Trading!
I moderate a small community 4 traders, analyzing weekly charts, and discussing trade setups. Focusing on psychology.