BTCUSD Buy Signal on the GT System | Low Risk Trade Activated
The short stop did hit whilst the previous candle was filled green and a Long entry has been opened in the vicinity of the trigger (see above). This trade presents a rather small risk as the price stagnation in the last few days allowed the trailing stop/entry to come right up to the price, letting the trade come to the price, rather than the price to the trade. The new stop-loss, as you can see in the snip above, will start out down at the recent swing low (~$7,811) and will start to dynamically trail the price every candle close after the next 12-hour candle.
It is possible we see a retest of the 8900-9500 region, which would be a nice place to take some leveraged profits and possible trap some bulls for a last move down.
Having said that, I do not like making price target prediction and prefer to simply trade the trend as it presents itself. This has been my most profitable strategy and it is the principle that my GT code is built around.
For more info on the code see the related ideas link below and/or contact me on my contact details provided at the bottom of that same link.
Had some more bids fill at 7980, 7930 and 7905 with two more at 7880 and 7860.