In following up of my previous post for the short trade#4 of Bitcoin, the trade plan worked out unbelievably as expected, Bitcoin hit the predicted resistance 1800 – nice round number - yesterday and bounced up a bit as detailed in the picture below.
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The whole picture is that there are people – you guess buy-and-hold players - who had been waiting on the line waiting for the price to hit this resistance level to buy up.
The trade hit the target profit nicely with 30% profit in one day. The reward to risk ratio is above 2:1 which meets my minimum requirement of at least 2:1.
Please comment what you think.
Good analysis and trading.
Thanks heaps for your upvote. I follow you :)
Most don't understand, the Win/Loss Ratio is the KEY.
... Congratulations to you!
Bitcoins will come out of your closet like this soon...
Nice trade. You mention pips on the diagram. You must have a forex background
Thanks. You're right. I've been trading forex too.