Bitcoin Flips. This is Where a Savvy Trader Earns Their Money
Good evening guys,
After growing balls and buying Bitcoin earlier in the week, we then spoke about easily getting 1:3 risk:reward and reconsidering our position from there.
Well this is where a savvy trader earns their money. Lucky for us, our levels are already drawn and we can simply use the same ones already on our charts. Just trade them from the other side:
BTC/USD Hourly
Sure it’s gross for your long term holds, but if you’re on the ball enough to draw a couple of boxes on your charts, then you can make money trading the same levels in both directions for some quick, low risk, high reward flips.
It’s the same levels I post over and over on the blog. They’re not rocket science. All they are is higher time frame zones to make sure we’re trading in the right direction and then intraday price action for entries.
Have a great night!
✌🏻.
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.
Twitter: @forexbrokr
Instagram: @forexbrokr
Bitcoin is heading lower. You are correct to be flipping and shorting here. I am looking for the puke lower below the FEB lows and then make the secure bottom there. In fact I believe I am one of the only traders on Steem calling for that. I am the only one calling for this here...look out below fellas for the best buy you will get in the next few years probably
https://steemit.com/crypto/@heyimsnuffles/breaking-here-we-go-boys-and-girls-one-of-the-only-people-calling-for-this-20180523t160514892z-post
Hey Snuffles 😂.
Interesting trade call. I like that you’re sticking to your convictions and trading them. I’ve given you a follow!
I agree. 5K is in the cards.
what about the 7.800 round number level?, do you think it can get run out easily? @forexbrokr
I’m just using that blue zone to manage my short term risk around.
To be honest it doesn’t matter what mine or anyone else’s opinion is on a level. They can break at any time. But you just have to use them to manage your risk around and get good risk:reward ratio trades from.
Find your levels and trade your levels. Don’t worry about worrying if something might or might not hold.
I remember a few years ago while in high school I tried trading Forex without really understanding the stock market or foreign currencies. I taught myself how to read candlestick charts and I was alright, but the volatility made me focus more on long term stock trading and eventually led me to cryptocurrencies.
I guess we're both similar in that we've always liked the Wild West so to speak!
Interesting post, I'll definitely be taking a look at your blog!
If you want to be successful in trading any market, you just have to learn how to manage your risk.
The Wild Wild West can still be tamed. A market is a market aferall!
They buy the dip and hold or perhaps sell at ATH.
Haha, that they do. But it’s easier said than done...
They buy the dip and hold or perhaps sell at ATH.
i am truly hoping for you that you held that short...
mine just keeps on running and i like the profit at 5x but indeed the rest is suffering