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Bitcoin trading calls

  • #1,361
  • Jun 3, 5:42pm (19 hr ago) Jun 3, 5:42pm (19 hr ago)
Quoting Olu
Bitcoin has touched the first line (64.4k) and bounced off it. Can we get a retracement please before I find myself at my 60k target please. At this stage, I am only asking for 74k. {image}
You called it Olu! Hope you caught a decent amount
  • #1,362
  • Jun 3, 5:58pm (18 hr ago) Jun 3, 5:58pm (18 hr ago)
Well, just going to have to ge it back one trade a time. WORST thing to do is revenge trade and try to get it all back quickly. Thats a great way to turn a bad streak into a train wreck. Drawdown is about 7% right now. Not good, but manageable.

As I said, I've lowered risk on trades now to limit any more downside if bad streak continues. Hoping to turn it around, but will have to do it the hard way...with winning trades while trading with less.
  • #1,363
  • Jun 3, 6:12pm (18 hr ago) Jun 3, 6:12pm (18 hr ago)
Quoting Zappa
{quote} You called it Olu! Hope you caught a decent amount
I got a decent amount Zappa. Left some on the table though.
If you think you can or cannot do it you are correct
  • #1,364
  • Jun 4, 2:12am (10 hr ago) Jun 4, 2:12am (10 hr ago)
Quoting Zappa
{quote} Haha, thank you Magiix. No, the only fishing i do is fishing for trades. Told my nephew before we went out the other day "I hope you know how to take the fish off the hook if you catch one, because I ain't grabbing that thing!". With Gold, I have focused on BTC for a while now because of 24/7 trading access and volatility, and when I switched to Hyperliquid I didn't even pay attention to other markets available. But recently took a look and there are quite a few to choose from and nice thing is they are also 24/7 access. Some are a little...
haha
Yes, I'm sure there are plenty of other interesting markets,24/7 is such a logical and important revolution when you think about it.
Yes, many markets, especially certain altcoins, have too low liquidity or are simply unreliable.
Once I have the capital, I'll also take a look at gold!
I won't give up.
  • #1,365
  • Jun 4, 4:16am (8 hr ago) Jun 4, 4:16am (8 hr ago)
Overnight bitcoin price went down to 61.2k!!!
Then a retracement to 64.6k. Price now at 63.5k.

ETH broke down below its flag channel low (1713) but has recovered back above it currently 1768.
The RSI on both instruments are way oversold making one hesitant to sell.
Adding a small short here with a tightish stop to test the downside.
The first test that this idea is working is the tsking out of the pinbar low.
If we go past the pinbar high and the immediate redline then the position is in jeopardy and the trade will close for a loss
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: screenshot.webp Size: 45 KB
If you think you can or cannot do it you are correct
  • #1,366
  • Jun 4, 4:54am (7 hr ago) Jun 4, 4:54am (7 hr ago)
Quoting Olu
Overnight bitcoin price went down to 61.2k!!! Then a retracement to 64.6k. Price now at 63.5k. ETH broke down below its flag channel low (1713) but has recovered back above it currently 1768. The RSI on both instruments are way oversold making one hesitant to sell. Adding a small short here with a tightish stop to test the downside. The first test that this idea is working is the tsking out of the pinbar low. If we go past the pinbar high and the immediate redline then the position is in jeopardy and the trade will close for a loss {image} {image}...
Trade closed for some scratch profit. Strength coming in
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 37 KB
If you think you can or cannot do it you are correct
  • #1,367
  • Jun 4, 5:36am (7 hr ago) Jun 4, 5:36am (7 hr ago)
Quoting Olu
{quote} Trade closed for some scratch profit. Strength coming in {image}
Shorted again. That strength dissipated quickly. Back in from near where I got out previously
If you think you can or cannot do it you are correct
  • #1,368
  • Jun 4, 10:35am (2 hr 11 min ago) Jun 4, 10:35am (2 hr 11 min ago)
Quoting Olu
{quote} Shorted again. That strength dissipated quickly. Back in from near where I got out previously
Is this all the retracement?
We would only know when the 61311 low is taken out
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.webp Size: 38 KB
If you think you can or cannot do it you are correct
  • #1,369
  • Jun 4, 10:39am (2 hr 7 min ago) Jun 4, 10:39am (2 hr 7 min ago)
Quoting Olu
{quote} Is this all the retracement? {image}
I must admit that I'm left wanting more.
I won't give up.
  • #1,370
  • Jun 4, 11:21am (1 hr 25 min ago) Jun 4, 11:21am (1 hr 25 min ago)
Quoting MaGiix
{quote} I must admit that I'm left wanting more.
Me too.
I have always said trade what you see on the chart but my trades are somehow blinkered by some deep expectations.
For example in bitcoin I have been expecting a big retracement since 68k.
Nothing happened or at best very shallow pops that could be minor profit taking.
This affects my trading somewhat.
Tightening stops too much ==> leads to being kicked out only to see price continue the way you wanted
Putting lighter lot sizes on instead ==> Not optimizing the profits for that trade
If you think you can or cannot do it you are correct
  • #1,371
  • Last Post: Jun 4, 12:18pm (29 min ago) Jun 4, 12:18pm (29 min ago)
Quoting Olu
{quote} Me too. I have always said trade what you see on the chart but my trades are somehow blinkered by some deep expectations. For example in bitcoin I have been expecting a big retracement since 68k. Nothing happened or at best very shallow pops that could be minor profit taking. This affects my trading somewhat. Tightening stops too much ==> leads to being kicked out only to see price continue the way you wanted Putting lighter lot sizes on instead ==> Not optimizing the profits for that trade
yes, PA action is very different in really bearish times (I had never really experienced it) and hard to accept i find, nothing is working as usual.
we all pretty much expected the down side, i was personnaly waiting of it,it commes and all i was doing the 2 first day(or more) is trying to catch the rebond, idk im dumb?
I learned it the hard way, but it's a learning experience, and it also helps to understand what comes next.
But a small victory is better than destroying morale or simply let it the time to show us what he want.
I won't give up.
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