I took a trade on #BTC over night while i was sleeping. Lovely to wake up and see myself in profit. These are the parts of trading that you love. Taking small portion off here and paying myself. Trade was based of taking liquidity on the downside and retest. Next move is up. Was
Stop moved above B/E. We have no business going down there if we are bullish. At the same time I'm giving the market a space to move. If you're not in a poition yet $7503 is your long, $7460 is SL. 1st target is above those 4 untapped highs
What a reaction from the target. This is exactly why you take profits there!
I still think we will be going up though. I've seen this pattern time and time again. Breakout traders are trapped in. Recent move will cause them to sell their positions for smart money buys and those shorting this "reversal" - their SL will serve as a fuel for further upside
Has this scary looking candle force you out off the trade? I mean obvious sell no? Inverted hammer or smth. NO! Market is designed to make you do this. Read the post above.
And closed the remainder of my position of my #BTC long at the top of the wick 😎 I mean most of you probably dont realize this but this thread is a pure GOLD. I wish somebody would've taught me this when I first started with trading.
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