2018-6-5 BTC LONG reversion at bullish hidden divergence
Updated
Yesterday, when I was about to go to sleep, BTC had just arrived in an important support (formerly a long resistance).
I had just been stopped in the earlier position and I spoted in the charts that probably, the down wave was about to stop
and reverse. But I had no time to wait for it, so I entered in a place I tought would be good and went bed.
I decided not to share earlier, because I had no confirmations of the chart and it could go wrong. But as a way
of registering my trades, I'll be sharing this now.
The bullish hidden divergence I was predicting confirmed, the downward movement got exhausted and the reversion
came (during the night). My stop-loss didn't get hitten (it was a little looser than I wished, because I knew it could dive
more and still reverse) and went up.
I just closed this position. Now I'm going to show exactly how it happened.
Money management
The exit wasn't in my initial target (that was around $ 7720), but it was in a really good profit rate. I decided to close it manually
because of the scenario I saw in the 15min chart (below). A bearish divergence just formed at this high, SAR got bearish, RSI is getting
near to the EMA and MACD is nearing signal too. I decided to take my profit and wait for another entry opportunity.
Let's see if it was a good decision.
I had just been stopped in the earlier position and I spoted in the charts that probably, the down wave was about to stop
and reverse. But I had no time to wait for it, so I entered in a place I tought would be good and went bed.
I decided not to share earlier, because I had no confirmations of the chart and it could go wrong. But as a way
of registering my trades, I'll be sharing this now.
The bullish hidden divergence I was predicting confirmed, the downward movement got exhausted and the reversion
came (during the night). My stop-loss didn't get hitten (it was a little looser than I wished, because I knew it could dive
more and still reverse) and went up.
I just closed this position. Now I'm going to show exactly how it happened.
- Stop-loss: $ 7265
- Entry: $ 7400
- Profit: $ 7624 (this is where I closed the position, not my target)
Money management
- Volume: 8% of main capital
- Risk: 1.8%
- Reward: 3% (this was the profit taken, not the target)
The exit wasn't in my initial target (that was around $ 7720), but it was in a really good profit rate. I decided to close it manually
because of the scenario I saw in the 15min chart (below). A bearish divergence just formed at this high, SAR got bearish, RSI is getting
near to the EMA and MACD is nearing signal too. I decided to take my profit and wait for another entry opportunity.
Let's see if it was a good decision.
Note
These are the zones where I'm planning to rebuy:Things may change, as the current scenario changes.
Note
I'll place some stop buy orders somewhere above current level...
Note
Waiting for pattern confirmation.
Trade closed manually
Guys, the current pattern in the chart is a reversal pattern. As you ca see below,Note
Note
The Right-angled Broadening Ascending is a pattern that usually break down, reverting the current trend. The problem is: there were too many fake breakouts. I opted to not trade this pattern. The probability of beeing wrong trying to operate breakout is huge.
Sometimes the best trade is not trading and wait for clearer trend. Let's see what BTC will bring to us later...
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