It's been awhile since I posted last here...😁
well, I'm back with posts and analysis.
Here's is on trade I'm currently in, I entered after seeing the weakness last weekend.
And now it's looking juicy 😋
#trading #bitcoin

Fire

I was able to catch one of the best shorts position... 

Today we had a fake rally that was going only for stops, and grab the liquidity that was residing at around 31500.

I used the bollinger band as confirmation to enter my position.

Like I said in one of my posts here, bollinger bands are one of the powerful tools we have as trader.

Make use of it.

#bitcoin #tradingstrategy

It's been awhile since the last time I posted... 

So many things, lol

But one thing I have noticed is that my trading skills have really gotten to another level.

I can see the swing forming, and I'm able to time them.

My entries are just awesome 😁

Entering at the highest swing of the day.

I'm so proud of myself for not giving up.

And this is how it goes, keep grinding and never give up!!!
#bitcoin #tradingstrategy

I have only 2 years in trading, and I struggled to understand that trading in a mindset game...

Now I have understood it very well.

Yesterday the Fed decided to halt the interest rates, and people got excited. 

I know many beginners run to open long position, ignoring that we were at a very crucial levels.

There's was a lot of liquidity residing below us...

And with the FOMC news, another set of liquidity was added to the market just to be smashed... 

Still holding my short position, and it's a risk free trade right now😉

#bitcoin #tradingStrategy

Let's talk about indicators

There's a debate out there about using indicators, but what I have observed is this.
Unless you know what is the bias for that week, day.
Using indicators will not serve you well, and it'll just be a distraction giving you conflicting signals. 
I use only one indicator on my charts, and it is used only for one reason...
CONFIRMATION for my entries.
And that is the BOLLINGER BANDS...
Not that I depend on them, but I use the to View how my bias aligns with the signals it gives.
Here is a takeaway 
The first thing you need to know as a trader is where, what might be the direction for that weekly candlestick? 
That's the secret for success in trading... (atleast for me)
Learn to read Price Action on an Empty Chart.

It requires HARD WORK and DILIGENCE, nothing else.
#bitcoin #trading #tradingStrategy

It was a very nice call!!!

All my targets have been hit😉.

This is how I trade.

The important thing is to learn the skills, and control you emotions... 

I love it

#bitcoin #trading #tradingStrategy

A very nice trade so far...

In the money😁

#bitcoin #tradingStrategy #crypto2023

Currently short on bitcoin 

Some profit targets have been hit...

We close the small CME gap at the regular trading hours open.

But I'm expecting a bigger move, let see what happens!!! 

Trade using sound money management 😉

#bitcoin #trading #tradingStrategy

#bitcoin
Time for some insights about what happening in the Btc Chart...

Some hindsight price action review. 

If you follow my posts here, you will know that I take a look at the CME Charts often. 

On Monday I did a post about some trade I took on Sunday evening. 

That Monday, the CME opened with a very big gap, and sold of directly. 

On Tuesday there was a small gap on the CME chart, the market opened and run up quickly squeezing the bears, just to go fill the gap we left on Monday... 

Notice how we took out the liquidity below the small green line.

Never ignore CME gaps

I entered a very nice short position yesterday evening, at around 7pm.😍

The reasons:

1. The market traded inside a range during the weekend, and it engineered liquidity. 

2. At 6pm EST, the CME opened and spiked above taking out all the liquidity.

Now the stage was set for a run down, targeting the liquidity below.

And if you can notice, BTC was unable to come the blue line after that spike.

This is one of the techniques I use to do my analysis... 

I close the position at around 3am EST 😁

Because the goal in trading is to make Money...

#bitcoin #trading

Most trader are just surprised by how the price is moving 😁

- The previous week, we saw the CME opening with a big gap (the yellow rectangle). And the gap was filled on Thursday.

On Friday of the same week(Friday 19th), there was a news event that was very important. And that range was used for liquidity...

The thing that made me switch gear was the failure to take out the low at 25800(Red line), after filling the Gap and taking out the liquidity on the down side. That was a sign that we have some unfinished business on the up side. 2 gaps on Mon and Tues

Then the market continued to reach the stops above There is another CME gap(the blue rectangle above) between 29700 and 28000...

P.S: These are my personal analysis, don't use the as trading advice. 

#bitcoin #trading #marketupdate

I have never closed my short position, because Bitcoin had shown me more signs of weakness... 

Today with the FOMC, it might get WILD...

Let's see what happens 

#bitcoin #trading

Yesterday in my analysis, 

I said that I was favoring a move to the downside... 

Here is one of the reasons, on monday the CME chart opened with a gap and the market was not showing a willingness to move higher. 

Instead we consolidated. 

Yesterday we filled the gap, and for me this is still bearish. 

Today we have the Fed Powell speech, and that's I high Impact event.

That's why the market is consolidating... 

So I will be expecting some big moves today by 11am EST.

Trade according to your analysis and use sound risk management. 

I'm still holding my short position 😊

#FeedFeverChallenge

This week, we have seen Bitcoin being held in consolidation range ... 

This tells me that there is a big move coming...

It might be Up or Down...

But I'm favoring the Downside since we met with a big resistance level at 30500...

And there is a big CME gap below us.

That's why I'm still holding my short position. 

I think after the Fed Powell speech this coming Friday, there might be some big move coming in.

Trade according to your analysis and us sound risk management. 

#FeedFeverChallenge

#BTC

Emotional trading 
As traders, our first enemies are our feelings and emotions... 

Fear and Greed. 

These are the main things that destroy every trader.

When you trade, watch out your emotions. 

How you control you emotions and feelings determines your success in the trading industry. 

The goal is to eradicate every emotions when you enter the market. 

If you feel excited when you have wins and sad when you have losses, that's a sign that you are still being controlled by your emotions. 

When you reach a level where wins and losses don't control you, you are reaching a level where nothing is impossible for you...

Work to become an emotionless Trader...

#FeedFeverChallenge 

#riskmanagement
Here are the 3 goals that every trader need to have:

1. Capital preservation for a long-term survival 

2. A steady growth of capital, after preserving your capital your second goal should be the growth.

3. And your third goal would be making high profits.

But the problem is that most traders put the third goal first, ignoring or maybe unaware the goals 1 and 2 exist...

#FeedFeverChallenge

I took this #bitcoin short two weeks ago at 29500...😁

And I'm still holding it, with big profit already taken!

More trades like it will be posted in days to come...

#Bitcoin
Bitcoin is a cryptocurrency with very big Market capitalization. 

This what makes it very liquid and thus tradable by Big funds...

And Big funds us CME(Chicago Mercantile Exchange) for their orders...

That's why the CME chart plays a very big role in Bitcoin's price delivery...

If there's a gap in that chart, my friend the Bitcoin price will be going there to fill it sooner or later... 

So as an analyst or trader, you need to be looking at the CME chart get some insights... 

As you can see, there are a lots of gaps in this chart... That means opportunities, and you need to be very good to know how to trade them...