Timeline of a Trade - Bitcoin VS a Cypher

in #bitcoin7 years ago

Dec 20

BTC CALL.png
BTC CALL 2.jpg
Spent some time analyzing the charts, looking for patterns. I found a Cypher (Measurements for a cypher below) in BTCUSDT. Usually at this point, you can find a pattern, but it doesn't complete - by that I mean move down to D point, meaning you can enter the trade - so at this point it's a waiting game.

Cypher Measurements
A = .382 - .618
B = 1.272 -1.414
X to D = .786

Dec 22

BTC CALL 3.png
2 days later, Bitcoin price drops, and lands right on D point, And I post on my TradingView the outline of the trade, along with the take profit, and stop loss. This is where I make sure all of my measurements are perfectly on the wicks, and look great to show off to the world.

In most cases, price will pass a bit below D point, and then we'll enter the trade. It's important to see D as PRZ (potential reversal zone, keyword ZONE). The candlesticks weren't a perfect indicator of reversal, so we can look for it to hit again...!

Sat, Dec 23

BTC CALL 5.jpg
Bitcoin makes a bump up, hits Take Profit 1 @ .382, then looking at the long red candlesticks, showing a powerful move to the downside, just as I had predicted

The drop ends with a Doji candle forming showing that it has a good chance of reversing to the upside.

Dec 27

BTC CALL 4.png

Hits Take Profit 2!

Summary

Not all trades work out this good, but with a sound strategy, and proper risk management you can forecast what price will do with surprising accuracy. This trade was one that hit dead on - I couldn't have been happier about it. :)

Learn to trade in 14 Days at SIX FIGURE CAPITAL .COM

Stay up to date at @corganmusic's TradingView

Press play to watch this trade play out

Up, ResteemU5dt42G4xW1EyBKDCHWEBSZLxMxDnZk.gif @corganmusic

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