1. BIIB
Start scaling into a BIIB long on Monday when the markets re-open.
2. BTC – analysed.
3. BTC.D
I am expecting the price of THETA to continue rising as long as BTC dominance keeps falling.
However, when BTC.D reaches the upcoming major support level, it may be time to take full profits out of the THETA long trade:
4. THETA
Continue to monitor the price action of BTC, BTC.D, and THETA every 4 hours today.
5. SOXX – analysed.
6. QQQ – analysed.
7. SPY – analysed.
8. RUT – analysed.
9. UVXY – analysed.
10. CMG – analysed.
11. AMD – analysed.
12. NFLX – analysed.
13. USOIL – analysed.
14. WBA – analysed.
15. SFM – analysed.
16. PLTR – analysed.
17. GFI – analysed.
18. BIDU – analysed.
19. NATGAS – analysed.
20. MRVL – analysed.
21. FDX – analysed.
22. BTC.D
As shown above, because BTC.D is continuing to breakdown strongly on the 4 hour timeframe, supported by a declining weekly and daily timeframe Stochastic RSI (confirmed with a backtest), so add additional capital to THETA long trade immediately with a new stop-loss level.
23. THETA
Let’s see how this plays out.
24. THETA
Move stop-loss to the 2nd entry level, as soon as possible, to lock in profit from the 1st entry.
Learning Points
- Analysing price action charts everyday provides me with endless learning, mental stimulation, and trading experience – making it seem inevitable that I was always going to become a trader.
. - It really is all about the following:
(1) trading crypto for its volatility as it provides lightening fast profit opportunities, and
(2) consistently and frequently moving stop-losses to ensure that capital loss is severely reduced, and profits are secured as soon as possible.
Next Action
- Start scaling into BIIB on Monday when the markets re-open.
- Continue to monitor the price action of BTC, BTC.D, and THETA every 4 hours.
- Add additional capital to THETA long trade immediately.
- Move 2nd entry THETA stop-loss to entry level.
