LONG STEEM/BTC Trade Idea - Short term

Just broken the bullish rectangle support level, looking to enter around the 0.00042 mark at major support. Hopefully then is able to bounce to previous support level before heading back down to major support line. This would essentially create a double bottom, and will look for price to hit the 0.618 Fib retracement level on the Daily graph. Green boxes indicate profit points, blue boxes indicate buy area

Plan
- Purchase at around 0.00042 once reversal has been confirmed
- Sell initial investment at previous support/new resistance at about 0.00046
- Buy back in if price retraces to major support (around 0.00042)
- Take profits again at major resistance (about 0.00053)
- Take all profits at Fib retracement (0.00059)

- Initial stop/loss set at 0.00038
- Trailing stop/loss will be set at previous profit/entry point (excluding the first)

Comment:

Will activate trade once price breaks above major support

Trade active:

www.tradingview.com/loading/

Trade active:

Above link is meant to be this one

Comment:

Price is now at first profit area. Once a reversal looks like it is going to take place, will sell initial BTC worth and buy back at support

Trade active:

Profit was sold at 0.00048 after sell order was hit. Buy order was just hit at 0.00042. Would have actually liked to wait for a reversal but had it on in case I missed it overnight and forgot to take it off (oops). Can see price dropping to ~0.00040, buy in once reversal has occured

Comment:

Trade was looking good up until about the 3rd pump. Looking like it may jump on the daily chart, will keep stop loss at 0.00038, will exit original 2nd buy amount at 0.00048 and let all profits run