TraderCobb

Good day everybody, TraderCobb here, it’s the 2nd of November and bitcoins going berserk obviously is you know straight up pushing on really hard and fast and look I just wanted to say for people that are wanting to trade the strength in Bitcoin just wanted to show you some ways that I like to do it and yeah just open the door and how I look at how I look at you know entering shorter-term you know trading positions in and out take a profit move on so obviously the alt coins that I get involved with I do that as an investment but I actively trade Bitcoin when the opportunity presents itself now obviously with it going more or less straight up here on the daily the opportunities are not presenting themselves on this higher time frame so what I do is I I go to the lower timeframes to have a look so from the one day out of the four hour again the 400 you can see good convergence here on the MACD really strong buying I mean it it would be lovely to see a pullback in to here little bullish candle for a break up but like by here sort of thing but we just haven’t got that right now and if it does start to pull back in and that’s a big if it will eventually of course what I do is use the fibs to just sort of go okay well the pulls back into around the fifty to sixty one percent seven twenty sixty-five hundred and sixty four back into these moving averages small bullish candle I look to trade like that but of course we’re not there yet if we do get there opportunity presents itself all talk you throw down at the two hours now again you know it’s just been pushing on there’s a little opportunity there I’m not gonna hindsight trading to you I trade it there and I’ve made millions of dollars that’s not my style good convergence again another two hours so the lower timeframes looking really really juicy at the moment but this is the sort of thing I’m looking for a little pullback seen like this breakouts that sort of thing the one hour again you know pull back into 6,700 back into here small bullish candle again good convergence there on the MACD in price I’ll jump down to the 15 minute and see if there’s anything of any opportunities representing themselves I like little things like this little flat levels to enter in these sort of parabolic Bitcoin moves we almost had a flat level present itself up here didn’t quite do it but it’s kind of in funny land right now it looks as though and I may be wrong but it looks as though right now if price if Bitcoin is to break above this high rise here it looks as though we’ll have divergence on the 15-minute which may suggest we see a larger pullback on these higher time frames if you’re really brave I don’t suggest everybody does this but if you’re really brave you can actually look down on these lower tide phones like the 5 minute as well and the sort of thing I’m looking for is like this you know it’s moved up pulled away from the moving averages becomes overextended and when it becomes overextended it’s almost like a elastic band it needs to come back to its equilibrium point the further it stretches the more likely it is to pull back and give an opportunity now something like this a little small can like that obviously you know the entry above the highest stop below the low that presents an opportunity what it also presents is you’ve got to be aware that it’s a very very tight stop-loss which means the potential for being stopped out is high but when we try and include the divergence to trend the higher time frames you probability can be on your side and obviously you know there’s a really nice move to be had I don’t try and catch the top so don’t try and catch the bottoms I tend to set a target scale out a little run for a bit may have one or two targets maybe a third target and potentially let a little position run but on these lower timeframes I do like to get out because obviously as you see here profit was to be had if you took it eventually it did come down below the stop-loss and you would’ve been stopped out so it’s not about holding forever it’s not about being greedy it’s about indicator so finding good trades that indicate high probabilities and taking advantage right now there’s nothing really setting up here on Bitcoin we need it you know what I want to see really is a bit more of a pullback so I’ll pull back here back into the averages it would be nice once again same thing I’ll use my fibs for a likely pullback position on these lower timeframes for Jordan hear something back around 6700 would be ideal small bullish can or breaking to the outside don’t think said I mean Bitcoin is just on an absolute rampage at the moment and I mean coming back to the daily you know 7,000 it’s probably going to be tested today and I would would not be surprised if you know we don’t quite get to 7,000 but we you know we got close to it and then we did see a bit of a pullback a bit of a sell-off that would be something that would be you know ideal really we give us good entry points for other phibian once again on this day leave between here and here you know back at 6,000 is the ultimate spot back into the moving averages back into the fever and back into roughly around this old old highs a little bit of support there as well so that’s sort of what I’m looking at and I’m just going to keep an eye on Bitcoin see what it’s doing a good opportunity to pick up some good alts the ones that you believe in because obviously they are you know not having as good a day as Bitcoin so for your investment sort of stuff good opportunities there for your trading stuff Bitcoin needs to present some opportunities but looking very good once again don’t forget to follow me on Twitter @TraderCobb and I’ll speak to you all again very soon . Bye for now

By Trader Cobb -

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