Last trade was awesome happened as predicted on one of the two outcomes
Now, I believe Ethereum has established (or is currently establishing) a range on the hourly between 210-230. Trading a range is a recipe for losing capital because one develops a FOMO for missing out the break of the range, and hence, is 80% focussed on that while he forgets to focus on the current range. My idea to trade a range depends on the HTF sentiment of the market. I stand bullish on Cryptos upto the summer of 2020. So, I will play the ranges looking for an upward break, unless it reaches a previous/old Swing high, so I tend to set my Bids below the mid-range, i.e. 216-220 for the range marked in this trade, and will release 50% at top of the range, and rinse and repeat till we break upwards. However, if it starts to touch the lower boundary of the range, I will start to reduce my risk on the trade. Remember, the more times a Support/Resistance is touched, the more probable it becomes to break down.
If we break upwards, my target is 250 but do not place bids at 230. I would say 232, to be safe.
Average entry on this trade is at 221
Target is 230 - rinse and repeat with 50% TP at 230
Not a financial advice, and please manage your own risk
Now, I believe Ethereum has established (or is currently establishing) a range on the hourly between 210-230. Trading a range is a recipe for losing capital because one develops a FOMO for missing out the break of the range, and hence, is 80% focussed on that while he forgets to focus on the current range. My idea to trade a range depends on the HTF sentiment of the market. I stand bullish on Cryptos upto the summer of 2020. So, I will play the ranges looking for an upward break, unless it reaches a previous/old Swing high, so I tend to set my Bids below the mid-range, i.e. 216-220 for the range marked in this trade, and will release 50% at top of the range, and rinse and repeat till we break upwards. However, if it starts to touch the lower boundary of the range, I will start to reduce my risk on the trade. Remember, the more times a Support/Resistance is touched, the more probable it becomes to break down.
If we break upwards, my target is 250 but do not place bids at 230. I would say 232, to be safe.
Average entry on this trade is at 221
Target is 230 - rinse and repeat with 50% TP at 230
Not a financial advice, and please manage your own risk
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.