PascalCoin / Bitcoin trade management 2 - PASCBTC
Hey good morning,
Time to get back into PascalCoin.
We're going for another break after this sideways movement. It's a little messy but basically forming a working triangle pattern enough that it's worth trying it. We're getting a consolidation of the price sideways.
Getting in:
We're going to buy the break of the last high, as indicated on the chart
Stoploss:
There are two potential stoploss placements.
- Stoploss B, which is the safe version. If we're going up it's very unlikely that the price will return down past stoploss B.
- Stoploss A is a more aggressive stop. But if you look back at the brevious break, once the price starts going up it pops and moves for some time, almost always not returning anywhere near the level of stoploss A. With this smaller stop we get a much better risk to reward.
What am I looking for?
- We're going through the motions on this PascalCoin trend. It's classic good moving crypto. We're going in and out of strong upwards moves and triangle consolidation. While this pattern keeps repeating we just need to keep buying the breakouts.
- the price is almost completely respecting the larger trendline (yellow) and the moving averages. (with the exception of this last triangle - which i will take as an early warning sign that the upwards structure may be about to break)
Good Luck!
Mark
Time to get back into PascalCoin.
We're going for another break after this sideways movement. It's a little messy but basically forming a working triangle pattern enough that it's worth trying it. We're getting a consolidation of the price sideways.
Getting in:
We're going to buy the break of the last high, as indicated on the chart
Stoploss:
There are two potential stoploss placements.
- Stoploss B, which is the safe version. If we're going up it's very unlikely that the price will return down past stoploss B.
- Stoploss A is a more aggressive stop. But if you look back at the brevious break, once the price starts going up it pops and moves for some time, almost always not returning anywhere near the level of stoploss A. With this smaller stop we get a much better risk to reward.
What am I looking for?
- We're going through the motions on this PascalCoin trend. It's classic good moving crypto. We're going in and out of strong upwards moves and triangle consolidation. While this pattern keeps repeating we just need to keep buying the breakouts.
- the price is almost completely respecting the larger trendline (yellow) and the moving averages. (with the exception of this last triangle - which i will take as an early warning sign that the upwards structure may be about to break)
Good Luck!
Mark
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