Did you long? BTCUSD position Day 42 of 100DAYSOFTA

in bitcoin •  4 years ago 

So we finally had our recurrent gap at 9245 USD, being filled. This is a good one, and I am sure we may see more price action to fill the other gaps at 9600 or 8840. For now, lets enjoy the ride.

image.png

https://www.tradingview.com/x/ACIx3OO1/

I couldn't post yesterday. I needed to attend to my health.

This is my entry for the 100DAYSOFTA challenge, Wednesday 22th July 2020.

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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
We already have a clear direction for this trend since few weeks ago. This is something worth following. And I have been sharing that direction on this post for as long as that duration. Now, we still have that trend and it is to say we are more favoured by the bulls. So, get ready to buy the dumps. My guess, Thursday is going to be a day for dump. I will be looking to add more to my long on Thursday dump (If it occurs). We can see that we have a ST long and we have Willy in this overbought region too. This is to show us that we can expect a nice reaction downwards to at least rest WIlly. Also, we can have Willy extending in this range for long so technically we may not experience a reset.
image.png

https://www.tradingview.com/x/gfkO9iDG/
1h
ST is long on this TF and Willy is ready to turn upwards. Although, the price action might reset it to oversold region. On this Tf we have been holding short for a long period and the short extended for a longer time. However, having a new trend is great as we can expect a more upward price movement soon. The trend has changed and we are in a good trend for now. We should be look for long unless 9200 is broken or a close below it occurs.
image.png

https://www.tradingview.com/x/KQ1TKoAa/
30 mins
We have Willy giving us several opportunity to long, as we can see when it became oversold while ST is still long. Now, we can say that we are close to the overbought region and we may have a dump or side ways actions to rest Willy. ST is long, with a support at 9260 USD. This shows we are in a strong trend for now. Any kind of price action downward will highly result in fast buy up.
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https://www.tradingview.com/x/Kl4LVG4A/
Extras
15mins and 5 mins charts respectively.

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https://www.tradingview.com/x/Z0ukATJE/

image.png

https://www.tradingview.com/x/BF5QIy78/

Summary:

4hrs ST is long
1hr ST is short
30 mins ST is long

  • My Position

This week we may have a breakout, a breakdown or back to the range after wicks.

I exited my position yesterday since I am not too confident in Thursday price action. Now, I will re-assess the charts to choose another entry.

image.png
https://www.tradingview.com/x/RxflqFmg/

Those are my new entry and plan. I hope it works out well. It may not all fill, since I am more conservative in this trade.

Please note: This is not financial advice. This is rather a way I am seeing the market.

Enjoy a good week ahead

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  ·  4 years ago  ·  

I hope you will make a profit!