$WestinTrade Review There are alot of things we could talk about on this chart, but I'm only going to highlight a few important ones and how I traded it. This symbol was brought up in the Discord a few times over the past couple of weeks and have just been waiting for the right setup. One of the best things about having a community of traders is that we are constantly bouncing ideas back & forth since I can't watch every symbol that's out there. The first thing to note is the white arrow in the bottom left pointing to the gap up. There is this 'thing' floating around the trading community that gaps have to fill. Not true. Next is the white arrow marking the low of the pullback from the highs around $100. From there we basically trade sideways for 10 trading days until the next white arrow marks a potential higher low for us. The reason I say potential is because until we break above that upper line of about $88 it isn't confirmed. Although when you drop down a timeframe the trend had changed so we stepped into this trade a little early at the green arrow. This is where multi-timeframe analysis is super important and beneficial. Then you just wait for the trade to work (or stop), and manage out of it accordingly. I took off half yesterday at the first red arrow around 107 and the other half today around 113. I personally traded this using options as opposed to shares, because I planned on holding it overnight, and earnings were coming up so if the stock did make the move an increase in Vol would help part of my position. It also allowed for it to be a defined risk trade and use a very small amount of buying power to do so. #cryptocurrency #investment #bitcoin #binaryoptions Let me know if you like these types of posts and I will do more. ๐ https://www.instagram.com/p/CKr-o9mnv9l/?igshid=1h13qwkugcdcx
