My Trading Journey #14: Bitcoin pumped up to $10,300 drastically after Fib level .618 from $9,942.
As I thought when looked at the BTC chart and my indicators, my target was $10,200 from $9,942.
I sold rest of 50% of trade at $10,225 which I was holding after selling 50% at Fib level .50 after buying at $9.942 when scalping on lower time frames as I mentioned in my last blog #13.
What I have learned from this scalp trading:
Fib retracement indicator helped for me to see where price can reversal up to after a dreastic move.
I used QFT method since the price dropped so drastically $200 in a short time. So, I knew the the price will eventually retrace back up from where the drop started.
I am getting better at money management by buying in layers and selling in layers as price moves up to my target.