In my fifth journal entry, I provide updates on my previous Bitcoin position, highlight a new BTC position, and discuss a recent altcoin trade on Ankr Network.
Stop loss: I set the stop loss at $7,834 which is below the ascending channel support with a bit of breathing room to avoid a long wick or shake out.
The risk to reward for a long position also satisfied all my conditions to enter a trade at the time.
Price wicked down below my initial stop loss before reversing to re-enter the ascending channel.
Instead of being stopped out, I doubled my long position at $7,900.
The price stalled below the EQ, and on a final push up to $8,350 created a long wick and an ugly candle.
The remainder of the position I held but moved my stop up to reflect the rising price and ascending support of the channel.
0.27% loss on the back half of the position.
Stop loss:.00000022 for a potential loss of 12% on the position.
My stop is still set at.00000022 sats for the remaining 30% of the position.
Bitcoin Price Diary: Long From $7.3K, Expecting Lower BTC Price
gepubliceerd op Oct 24, 2019
by Cointele | gepubliceerd op Coinage
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