Few months passed by and Bitcoin is still consolidating between the ranges I mentioned. While many have been constantly updating their chart (triangle, downtrend channel, head and shoulders, you name it), all I said is - "Bitcoin is in consolidation, don’t guess the direction and don’t trade especially towards the end of consolidation. It’s better to find other markets to trade (Forex, Commodities, Stock, Indices etc)".
The ONLY trade that I took in the last month is a week ago when I told you in my discussion group that I was going to re-buy some ETH @ $165 (and some other alts) using the profits I took when ETH was @ $270 & $350. No indicator was used, just simple price actions. ETH is now $214 (30% profits). Can you see how you don’t need to open a lot of trades to be profitable? - a common misconception by new traders.
Many unfollow me during the consolidation phase because I didn’t give any update, despite the movement went exactly as expected. You probably don’t believe me, especially if you are a new follower so let’s do a recap on the trades that I took in 2019:
First, I bought BTC and some top alts when BTC was around $3.5k. Then I sold some at around $5.5k, $7.5k, and closed most of remaining positions at $13800. During the parabolic movement, I also did a few scalping buy (@ $7.7k, $8.35k & $10.3k) which all hit targets. For swing trade, I re-bought at $9750 and sold between $12k - $13k. Later, I re-bought again at $9750 with my target set at $11.9k. Unfortunately, that last trade was stopped out due to SL was set too narrow, although it did hit the target not long after (all proofs below).
7 trades were taken in a span of 9 months and 6 of them hit targets (with ETH trade ongoing which is already guaranteed profits). That’s 85.7% winning percentage with more than 2:1 risk reward ratio. Again, it’s all about Quality, not Quantity.
If you have got in ETH @ $165 with me, the first target is $227 (or $225 if you are conservative). You can set your SL to break-even now (or trailing stop) just in case if a dump ensues. If you have missed out the buy, XRP is something that I will be interested in adding to my positions if it pulls back to around $0.28, consolidates, and starts to curve up.
Having any other questions? Come join our free trading discussion group.
If you have made good profits and appreciate what I do for free, don't forget to like the idea. I will keep updating my idea when necessary.
Bought at $3500:
Closed some positions at $5.5k, $7.5k:
Perfect trade setups (however I didn't buy), if you move the chart up you can also see that I marked $13829 as the huge resistance:
Re-bought at $9750 and sold between $12k - $13k:
Scalping buy mentioned @ $10030:
Re-bought at $9750, with target at $11.9k but was stopped out:
The ONLY trade that I took in the last month is a week ago when I told you in my discussion group that I was going to re-buy some ETH @ $165 (and some other alts) using the profits I took when ETH was @ $270 & $350. No indicator was used, just simple price actions. ETH is now $214 (30% profits). Can you see how you don’t need to open a lot of trades to be profitable? - a common misconception by new traders.
Many unfollow me during the consolidation phase because I didn’t give any update, despite the movement went exactly as expected. You probably don’t believe me, especially if you are a new follower so let’s do a recap on the trades that I took in 2019:
First, I bought BTC and some top alts when BTC was around $3.5k. Then I sold some at around $5.5k, $7.5k, and closed most of remaining positions at $13800. During the parabolic movement, I also did a few scalping buy (@ $7.7k, $8.35k & $10.3k) which all hit targets. For swing trade, I re-bought at $9750 and sold between $12k - $13k. Later, I re-bought again at $9750 with my target set at $11.9k. Unfortunately, that last trade was stopped out due to SL was set too narrow, although it did hit the target not long after (all proofs below).
7 trades were taken in a span of 9 months and 6 of them hit targets (with ETH trade ongoing which is already guaranteed profits). That’s 85.7% winning percentage with more than 2:1 risk reward ratio. Again, it’s all about Quality, not Quantity.
If you have got in ETH @ $165 with me, the first target is $227 (or $225 if you are conservative). You can set your SL to break-even now (or trailing stop) just in case if a dump ensues. If you have missed out the buy, XRP is something that I will be interested in adding to my positions if it pulls back to around $0.28, consolidates, and starts to curve up.
Having any other questions? Come join our free trading discussion group.
If you have made good profits and appreciate what I do for free, don't forget to like the idea. I will keep updating my idea when necessary.
Bought at $3500:
Closed some positions at $5.5k, $7.5k:
Perfect trade setups (however I didn't buy), if you move the chart up you can also see that I marked $13829 as the huge resistance:
Re-bought at $9750 and sold between $12k - $13k:
Scalping buy mentioned @ $10030:
Re-bought at $9750, with target at $11.9k but was stopped out:
