THELOGICALINDIAN - Were already into the additional day of the anniversary for our bitcoin amount trading efforts and things accept played out appealing abundant according to our expectations The breach of the 1200 akin a few canicule ago set that akin up as best appellation abutment and we accepted to see a retest which we accept done The akin captivated close on the retest and its now all about watching the intraday activity to see how things comedy out in band with an upside bias
We’re not activity to decay too abundant time anecdotic brief activity advanced of the affair today, as the bitcoin amount is currently trading at or about a abeyant access level. If we abide on what’s happened so far, we’re activity to accident missing on the position.
So, let’s get to it.
As ever, booty a quick attending at the blueprint below, and we’ll get some key levels categorical with which we can cross the affair ahead. It’s a five-minute candlestick chart, and it’s got our key ambit overlaid in green.
As the blueprint shows, the ambit that we’ve got categorical for the affair this morning is authentic by abutment to the downside at 1207, and attrition to the upside at 1215. It’s a appealing bound ambit (something that’s acceptable accepted with our trading efforts of late) and that agency we’ve got to accumulate our targets and stop losses (read: accolade and risk) aloof as tight.
With this in mind, then, we’re activity to attending for a abutting aloft attrition to get us in to a continued position appear an actual upside ambition of 1225. A stop on the barter at 1212 looks good. On the south ancillary of the trade, we’re activity to attending at accepting in abbreviate on a abutting beneath abutment appear a downside ambition of 1200 flat. On this one, a stop at 1210 will get us out of the position in the accident of a bent reversal.
Charts address of SimpleFX
