Hello dear traders, it's Petko Aleksandrov and I continue now with the aggressive counter trend line which 1
is another tool in the course. 2
Actually, this is something that I really like to use for the Bitcoin especially, because the Bitcoin is an aggressive 3
asset, guys, if you want to be trading aggressive assets, 4
you should be an aggressive trader as well. 5
What I mean by aggressive and what I mean by aggressive counter trend line? I will go back randomly somewhere, 6
back on the chart to show you some examples. 7
So, the counter trend line, as I have explained already, we draw it from a recent high going to another 8
high that was formed recently- a lower high and then we are entering on the break. 9
So, you see this counter trend line actually is very good because it's on 3 points. 10
By chance I dropped it over here and into one, second, and third point. 11
So, this makes it quite more sustainable and you see that the price here broke, it retested it very well. 12
And then continued higher, so it's such a retest on the counter trend line, guys, gives us another chance 13
to enter. 14
So, if you have missed over here to enter and you are already far from the counter trend line and then the 15
price just retested, it will give you another chance to enter and even sometimes you can enter on 16
a better 17
price. 18
But what I mean about more aggressive counter trend line? Let's see here. You can see that I can build 19
another more aggressive counter trend line on the recent, recent high, so after this high was formed and 20
you draw your counter trend line from here you can take this top as the beginning of the counter trend 21
line and build it with the next one, so I will go through here and see here 22
I actually have much cheaper price than the one over here. And more, 23
I can actually draw it from here, 24
going this top over here. 25
So, you see now I am having a much cheaper price, so if I enter right from here instead of entering at 26
the levels of 2550, I can enter at 320-30. 27
So, this is much cheaper and this is very important to buy at a cheaper price and to sell at more expensive 28
price, so this is what I call an aggressive counter trend line because I just draw it from the next tops 29
and it's closer to the price, which gives us the opportunity when it breaks to buy at a cheaper 30
price. 31
I will go to look for some more examples over here. 32
So, lets look for some more examples. 33
So many examples 34
when you are drawing counter trend line or especially the aggressive counter trend line. 35
So, let me zoom it a little bit higher. 36
And from here let's take this case if I draw the counter trend line from here and you see here is the 37
huge break that we are having. 38
I can have more aggressive counter trend line going from here. 39
So, you can see that I will be entering at 2250 instead of entering at 40
2434. 41
So, you see that's a huge difference, guys, 42
and I can go even more aggressively by drawing it from this last 43
top over here. 44
Connecting it with this recent top here that we have after this huge gap. 45
So, you can see now when the price is breaking that would be at nearly $2000 so, such a great 46
difference. By this time already 47
I would have taken my Take Profit. 48
Something very important here, guys- buying at the right time and place, and taking your profit just when 49
the others are buying, will make you a winner. 50
Please remember that one. 51
Buying at the right time and place and Taking your Profit just when the others are buying will make 52
you a winner. 53
This means that when I am buying over here already here I will be with my $200 of profit 54
or even more if you wish to hold it. 55
And right here at this moment when I'm buying at these cheap prices- this is after the Bitcoin was sold out. 56
Obviously, this price going down is because people panic of having Bitcoins and they want to sell it 57
in order to take this profit of $2000 for Bitcoin, 58
right? 59
So, this is pretty much close to the stock trading 60
massive selling when people are getting into panic that their asset is going down and they're losing money, 61
so what they do is they sell it out even on the cheaper price. 62
They don't care. 63
They want to be out, because they don't want to lose their profit or, if they bought it more expensively, 64
they don't want to lose more. 65
So, here they're just selling it and that's why there are these huge drawdowns and these huge gaps sometimes. 66
And then what happens? 67
The so-called smart money are coming in. 68
The smart investors that know that this is just a moment panic the prices continue higher because we are in the 69
uptrend still. 70
And they just buy it at a cheaper price and they make a profit. 71
So, we want to be part of these smart traders, smart investors. 72
We want to buy it at a cheaper price. 73
Right after the people 74
have sold out we had the opportunity to enter at a cheaper price and right here we are 75
taking our profits somewhere above with $200 because as I said this is enough for me and I'm happy 76
with that. 77
And then I'm not taking the risk to go here at these levels to go higher because at this level these 78
traders and these investors that I said that they're scared and they sold it here they are buying it 79
again because they say "Oh, OK Bitcoin it's going up again. 80
Let's buy it again." 81
And then it's happening the same and same thing. 82
So, this is called the Trading Psychology 83
which was normally created as a theory for the stock trading. 84
But it's very similar. 85
And I see it every day on the Bitcoin, so I'm not going into details now because I'm planning to make a 86
whole course about it. 87
And it is very important. 88
But right here simply what we need to remember is that we are buying at the cheapest price. 89
We are taking the profits together with the smart investors, the huge investors. 90
So, these aggressive counter trend lines give me the opportunity to enter at the lower price and actually 91
to make more profits just before even the others are on the market. 92
OK, guys, thank you for watching. 93
Hope it's clear. 94
Cheers.