How do we play this next move?

27 Okt 2019

This TA is for short term traders or long term traders looking to jump in. Short term traders, you need to set a "Stop Loss" and learn about resistance. So, after an up move where do you jump in? The simple answer is after the pull-back. What does that mean? When you see a big green candle take off, you wait for momentum to stop and then put a buy order at the 38.2% or 50% pull-back point. If the trend is very strong you have to be ready at the 23.6% or 38.2% area using the 2H or 4H timeframe. If the trend is moderate, be ready at 38.2% or 50% pullback.


For a long term pull-back using the 1D be ready at the 50% or 61.8%. What this means is to use your Fibonacci tool and find the swing low and swing high to draw a scale and buy-in at the points I explained above. BTC stopped exactly at the 61.8% retracement of the entire 2019 move which was at the beginning of my optimal buy zone.
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Did I buy-in? Nope, I was waiting for it to hit my green X on the dot and it did not. Am I disappointed? Nope, There will always be another chance to catch it low. For now, I am 25% in and looking to buy more, later.
Why later? I'm looking to see how this whole move is affected by the death cross. When we exit the death cross (enter a golden cross) it should be a violent takeoff.

This is a link to my live chart so you can keep an eye on that battle. tradingview.com/chart/0FJOpaqx/