BiTCoiN - Awaiting The Right Conditions To Open A Long Position
Happy Serene Saturday, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Patience has paid off, we stuck to the rules we've set for out trades.
Chart Timeframe: 1 Hour
I have on the chart the 50 & 200 EMA.
Long Position Opening Conditions:
1. Trend - Uptrend
2. 50 EMA Above the 200 EMA
3. Price Action has retested resistance which has turned into support
No emotions, stick to your rules.
Always remember to place your Stop Loss, typically 1.5% - 2% based on the risk tolerance you've set for your trades.
And watch out for stop-hunting bots, they can liquidate stops and once they've taken out those stops will allow price to continue on its merry little way.
B.D. on MACD = Bearish Divergence, indicates weakness of the momentum of the bulls and a signal to exit a long position.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Patience has paid off, we stuck to the rules we've set for out trades.
Chart Timeframe: 1 Hour
I have on the chart the 50 & 200 EMA.
Long Position Opening Conditions:
1. Trend - Uptrend
2. 50 EMA Above the 200 EMA
3. Price Action has retested resistance which has turned into support
No emotions, stick to your rules.
Always remember to place your Stop Loss, typically 1.5% - 2% based on the risk tolerance you've set for your trades.
And watch out for stop-hunting bots, they can liquidate stops and once they've taken out those stops will allow price to continue on its merry little way.
B.D. on MACD = Bearish Divergence, indicates weakness of the momentum of the bulls and a signal to exit a long position.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
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