Trader Lab

2021-12-23 07:46:18 Open / Comment

2021-12-23 07:34:51 I will look at the targets shortly.

Planning is key to success.


I sometimes do trade price action but I never really feel comfortable when I do so because of the lack of preparation for entry and exist.

Sometimes you recognize a very obvious pattern and you feel like going into it as money is clearly waiting for you.

My yesterday scalp trade was a good example ( Thumbs up to my Copy Trading Followers). Open / Comment

2021-12-23 07:28:49 2) Correction is OVER

If BTC were to start trending up again after retracing only at 38.2%, this would be very bullish.

On this illustration you can see 2 setups.

Once again the Stop Loss (48k) is very important and follows the wave theory.

Setup 1: classic breakout standing at 49.2k for now

Setup 2: Wave breakout (Can I say that? Let's assume I can) could be a safer entry Open / Comment

2021-12-23 07:25:17 Open / Comment

2021-12-23 07:20:57 I'll take a look at 2) now Open / Comment

2021-12-23 07:20:36 1) Correction is NOT over:

Before looking for the BUY ZONE you need to know where to put your Stop Loss or Security Stop Loss.

(You can stop trading if you don't put any as even though you have a 95% win rate you will lose it all).

Stop Loss is at 46.6k at a very strategic point below the channel.

Where to BUY?


50% and 61.8% is the area of interest.

You can add 3 positions between for example:

33% at 50% (47.6k)
33% between 50% and 61.8% (47.3k)
33% at 61.8% (47k)

Quite often the price likes to stop exactly in-between 2 fibs level. Open / Comment

2021-12-23 07:15:30 Open / Comment

2021-12-23 07:09:38 There is one case where I will BUY or SELL at 38.2% is where there is a TRIANGLE formation which is not the case here. Open / Comment

2021-12-23 07:08:29 After an impulse wave (12345 wave to the upside), BTC is now consolidating or correcting.

BTC bounced off the 38.2% to the exact dollar but is it this correction over?

Personally it's hard for me to BUY the 38.2% because in terms of probability this is the least possible correction.

50% is my benchmark to buy retracement and we have not reached it yet.

So in this particular case:

1) If the correction is OVER then I will look to buy the breakout.

2) If the correction ISN'T over then 50% and 61.8% would be an interesting BUY zone.

Let me show you on an illustration. Open / Comment

2021-12-23 07:02:45 Open / Comment