Long
BCHUSD: Next Trade set-ups ahead of weekend
BCHUSD Next Trade Set-ups ahead of Weekend
This was left as a short backk to 1180-1100 range and with a subsequent low at 1152 it did ok. Obviously the slick trader
will not just close out if the last trade has gone to plan, he (and increasingly frequently, she) will naturally seek to
reverse, with stops underneath and see what comes. If you managed this here you are a star trader in the making (good
traders close out when targets are reached, great ones reverse: who said that?) Anway those who managed the trick
or just got long somewhere around the lows have already seen over 20% gains since yesterday. This market is just
unbelievable. You can compound money faster than ever before in history 24/7. Still find it astounding that the biggest
crap shoot in history is still playing very time we get up, just a button away.
BCH is trading in a little wave from the lows, good green showing, bear engulfing those hours of backing and filling in
minutes...but it's reached close to the limits of its neat term upside potential and meets a crossroads at 1415 where 3 lines
converge, so it's understandable that BCH is shying away from here, being sold off at the natural spot, or just under in fact
so far. If long here it'sthe obvious spot to close out and bank gains and then look to buy from lower and/or add once 1415
is broken to the upside. This will free up the space above and let BCH have a damn good weekend in prospect, opening the
way for a move up to 1516-1539 initially and way above here in medium term, most likely.
In near term whilst BCH continues to track within the impulse wave (loosely defined, so far, early days) it's trend will remain
positive. Buy any dips towards the lower parallel if seen - if not it's strong, isn't it? - so buy again on the break above 1415
with stops 50 below
This was left as a short backk to 1180-1100 range and with a subsequent low at 1152 it did ok. Obviously the slick trader
will not just close out if the last trade has gone to plan, he (and increasingly frequently, she) will naturally seek to
reverse, with stops underneath and see what comes. If you managed this here you are a star trader in the making (good
traders close out when targets are reached, great ones reverse: who said that?) Anway those who managed the trick
or just got long somewhere around the lows have already seen over 20% gains since yesterday. This market is just
unbelievable. You can compound money faster than ever before in history 24/7. Still find it astounding that the biggest
crap shoot in history is still playing very time we get up, just a button away.
BCH is trading in a little wave from the lows, good green showing, bear engulfing those hours of backing and filling in
minutes...but it's reached close to the limits of its neat term upside potential and meets a crossroads at 1415 where 3 lines
converge, so it's understandable that BCH is shying away from here, being sold off at the natural spot, or just under in fact
so far. If long here it'sthe obvious spot to close out and bank gains and then look to buy from lower and/or add once 1415
is broken to the upside. This will free up the space above and let BCH have a damn good weekend in prospect, opening the
way for a move up to 1516-1539 initially and way above here in medium term, most likely.
In near term whilst BCH continues to track within the impulse wave (loosely defined, so far, early days) it's trend will remain
positive. Buy any dips towards the lower parallel if seen - if not it's strong, isn't it? - so buy again on the break above 1415
with stops 50 below
Note
BCH Update Uptrend was defined loosely before...now it's perfect...really nice...good for trading here
Note
Isn't this technically beautiful at the moment? look at the price action on the chart now..fantastic. So it's a biuy off th eline below it with stops under neath or a buy on the break above 1415 (usual drill) .One other thing: if you've been trading this you'll know that the calls here have been much better than on Bitcoin, where I just couldn't get the low (and wasn't around for it at 9300 at 7am gmt anyway).
At the moment the easiest to read are BCH an BTG...notice that only a few people bother to read BTG...wonder why? It's beautiful, as good and accurate as BTC and every bit as profitable too, an 8% short, an 8% long and a second 10% long all coming off in the last 30 hours here with BTG.. take a look at it as there is a great trade opening up there too this weekend, potentially, just like BCH at 1415 - these two will likely break together - or not at all. Please follow at least 3 or 4 alts. It's really unhealthy to just have one girlfiend/boyfriend...you get way too attached and emotional about her/him then. You need to run 3 or 4 girls/boys together. seriously. This makes you less emotional about just 1 of them. It is good for your brain to run 3 or 4 and get to know them well. Each to his own, but right now I love BCH, BTG, LTC (all v USD) and of course the old she-devil herself Bitcoin. Bitcoin tells us which the wind blows and so is a lead indicator for Alts.
Eos and Dash are good if you like your West even wilder. Please look at the BTG chart which will be posted for you in a moment or two. hope you're not too busy or in too much of a hurry to make some serious returns this weekend - if we get the breakouts needed here and on BTG. At least take a look at this potential gift horse first, before turning it down sight unseen.
Trade active
Beautiful BGTUSD Note
Someone has been playing BTCH like a violin all day, selling off the upper extreme of the parallel. Good for them. Now it waits on Bitcoin to determine which way the wind blows next For BCH it can hold at 1378 and if bitcoin falls away it will test 1349 but probably not much lower. Look to buy dips with stops or to increase /open on a move above the parallel controlling/holding back today's rally.Next move for BCH depends on Bitcoin..if it holds here - continuation pattern - all is good for BCH. But if 14400 fails then it will consolidate gains/come off for a while and so will BCH. So far though Bitcoin defies gravity
Note
All depend on the quality of this attempted by Bitcoin: if good follow it as it will fire way higher...will take everyone by surprise....follow it stops under the break out line by 50 pointsNote
Woah she'sbroken buy next pull back and watch the alts fly! Good weekend ahead..Be around for it. Who knows when the casino will get taken away from us?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.