Hello Traders!
The same idea applies I would assume to crypto.
Bearish Model
1. Wait for a candle to close above the the last 3-8 previous days high. This is your smash day candle.
This candle closing above those highs would look like a nice buying opportunity.
However this could just be smart money luring retail to getting this bullish trend.
Smart money would bring price back down to the low of the smash day and this is where we would enter on a sell stop.
2. Wait for price to come back down to the smash day low and play a sell order at the low of the candle.
3. Hold this trade for "X" amount of days. This could be 13-20 days. Your SL would also entail a 200-500 pip sl. All depends on where the smash candle high is.
The same idea applies I would assume to crypto.
Bearish Model
1. Wait for a candle to close above the the last 3-8 previous days high. This is your smash day candle.
This candle closing above those highs would look like a nice buying opportunity.
However this could just be smart money luring retail to getting this bullish trend.
Smart money would bring price back down to the low of the smash day and this is where we would enter on a sell stop.
2. Wait for price to come back down to the smash day low and play a sell order at the low of the candle.
3. Hold this trade for "X" amount of days. This could be 13-20 days. Your SL would also entail a 200-500 pip sl. All depends on where the smash candle high is.
