BCHBTC ready to move up?
BTCUSD reached important LT Resistance and might be ready for a reversal.
Multiple indicators show Bullish Divergence
The location of BCHBTC is good for entering trade. This is our number one check to make. If location isn't right there are no options to open a trade
Risk to reward from this point to ATH & 0 is almost 20:1 so very good.
If we can see double bottoms (W's) coming in we can enter trade at breakout of W or at retest of breakout level.
For safe trading and minimum risk take 50% profit at your first double, another 50% profit at the next double and so on ... (Little Old Lady Technique by Brian Beamish)
Putting all of these things together this seems like a very favourable setup.
Cheers,
W
Multiple indicators show Bullish Divergence
The location of BCHBTC is good for entering trade. This is our number one check to make. If location isn't right there are no options to open a trade
Risk to reward from this point to ATH & 0 is almost 20:1 so very good.
If we can see double bottoms (W's) coming in we can enter trade at breakout of W or at retest of breakout level.
For safe trading and minimum risk take 50% profit at your first double, another 50% profit at the next double and so on ... (Little Old Lady Technique by Brian Beamish)
Putting all of these things together this seems like a very favourable setup.
Cheers,
W
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.