After a sharp fall in December 2018, which ended up the boring year in a full disappointment, we have had these sideways in BTC (I'm not gonna call it a rise, since it's more likely a correction or maybe a forth wave from an Elliot Wave downtrend started earlier, as we have discussed it in previous posts)
I planned to trade on this sideways as you can see in the image, with a risk to reward ratio of 3, buying around $3500, stopping my loss around $3250 and taking profit around $4250
I just managed to enter a trade and take profit once, and I have evidences which shows I shouldn't try it for a second time. yes, I admit I'm a bit conservative, so if you are more risk taker, maybe you can act different.
let's not forget:
I AM IN NO WAY A MARKET PROFESSIONAL; USE YOUR OWN JUDGEMENT WHEN PURCHASING STOCKS AND OTHERWISE I AM NOT RESPONSIBLE FOR GAINS OR LOSSES THAT YOU MAY EXPERIENCE.
THE MARKET IS INHERENTLY RISKY, AND YOU SHOULD ONLY INVEST WHAT YOU ARE COMPLETELY WILLING TO LOSE.
I CURRENTLY HOLD INVESTMENTS IN STOCKS, COMMODITIES, MUTUAL FUNDS, REALESTATE AND CRYPTOCURRENCIES.
Here are my reasons to stop this sideway trade strategy and wait for another fall:
