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EOS/Bitcoin Entering Stage Two of Trade Plan

We recently discussed a plan to buy EOS/BTC around 0.00020500 BTCs. Targets were 0.00022000, 0.0002500, 0.00029800. It has gotten past the 1st target.

EOS/BTC 1H Chart

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  • We reached the first target and price is now heading to the second.
  • I have to admit, I changed game plan and didn't exit out of my first target.
  • Part of the reason was that the 1H RSI did not show over sold or have a lot of problem when it was at 60. 
  • But now as price approaches our 2nd target around 0.00025000, the 1H RSI is about to be above 70.
  • I am still going to adjust the limit to exit 1/3 of position at 0.00025500, because price action is showing strong momentum and should threaten November high. 

    TRADE MANAGEMENT:
  • Changed target 1 to 0.00025500
  • Change target 2 to 0.00026900
  • Keep target 3 at 0.00029800
  • Move Stop to 0.0002190

NOTE: Profits are locked in because the stop is moved up. Now I know in these crypto exchanges, you can't put stops and limits at the same time. So it's a little annoying that you have to set up alerts with other apps like tradingview or blockfolio, but that is the work you have to put in if you want to manage your trade. 

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