All that is needed is a little push
In our last crypto chart book, “Bitcoin Bounce Buying Opportunity“, we discussed upcoming turning points. Using a top-down multiple time frame approach. Though we advocated a low risk entry point within the next 48 hours, the theme was in not predicting the future. (It did provide quite a profitable trading bounce.) Rather, in participating when low risk opportunities present themselves, and utilizing a specific exit strategy, the Quad Exit , in order to mitigate risk along the way. We explained that even in a higher time frame monthly view, with a candlestick that needed about two more weeks until completion, the probabilities of strong bounces were probable. The point being that while it is impossible to predict the market’s turning points 100% of the time, participating with a low-risk entry is not. All that is needed is a little push.
Meaning an edge with a higher probability of one direction over the other.
August 15th 2019, BTC/USDT, daily chart, the setup:
Bitcoin in TetherUS, daily chart as of August 15th 2019
Supporting this tradable reaction (bullish bounce), the weekly chart also provided confluence with a triangle formation. This with the bottom reaching a supply demand zone acting as support.(see our last crypto chart book, “Bitcoin Bounce Buying Opportunity“)
Previous market behavior influences future market behavior, because human beings are creatures of habit. So with repeatable psychological patterns, it was only logical to assume that if we had a bounce last time, we would have a high probability of a bounce this time.
All that is needed is a little push, BTC/USDT, 60 minute chart August 25th 2019, the trade entries:
Bitcoin in TetherUS, 60 minute chart as of August 25th 2019
August 25th 2019, BTC/USDT, 15 min chart chart,all that is needed is a little push, the trades in more detail:
Bitcoin in TetherUS, 15 minute chart as of August 25th 2019
These were the trades taken and posted in real time in our telegram channel.
You can see that even so the bounce was brief it was lucrative to participate and very low risk as well.(runner returns were 2.1%, 9.5% and 6.9%)
The distinction being that while most traders trade for confirmation, by looking for breakouts out of congestion zones, they often do so in the wrong context. Therefor finding themselves on the wrong side of the move (false breakouts). For those who are risk averse to trading breakouts and would like a lower-risk approach, trading anticipatory provides such an opportunity. And this alongside with smaller stops.
All that is needed is a little push, daily chart of BTC/USDT, 25th of August 2019, double bottom:
Bitcoin in TetherUS, daily chart as of August 25th 2019
Compare the chart above with the first chart of this publication. It becomes obvious, that this wasn’t the turning point with true follow through just yet. The market rather built a double bottom. This isn’t the point so. There were plenty profits made on an attempt with all that was needed was a little push. A little edge for direction.
What matters is, that there is more than one way to skin a cat. Those participants who find it difficult to sit through the choppy waters of an all in/ all out strategy, should consider utilizing the Quad Exit strategy. In detail discussed in our Telegram channel. A tool to hold for extended targets with psychological comfort of taking partial early profits.
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