BTGUSD: Back in the next Buy Zone on next pull-backBTGUSD Update Buy on next Pull-Back
Not a good last call here. BTG did bounce from that old
parallel but it only reached 313, well short of target at 320
before failing - badly. Stops were tight here so small loss,
thankfully. Imagine if no stop...how bad would you be feeling
now? With a stop we have at least avoided the pain that goes
with a position that's sliding away from you, stops you from
playing other Alts and wastes emotional energy and drains the
spirit. Bad call, but it could have been REALLY bad. Look at that
failure - once it loses the parallel it does that thing...comes
back looking for support at the top of the nearest structure to
its left. If cannot find it, it then comes back to the bottom of
that same structure. Which brings us back to now...BTG is
now a speccy buy at 254-248 range - better if it stops at 254
but could spike to 248. Stops on buys at 254 need to stay
either very tight under 252 or under 248. Initial resistance lies
at 269...needs to clamber back above here and hold for a
move back to 282..it's bouncing now as this is written...and is
already back at 269 (up 15 points or 5% in 10 minutes!
Damn...watch to see if it holds up off 261 now
on the next pull-back and then go long here -
stops below 254 for move to 281where it becomes a sell again
