Hello dear traders. 1
My name is Petko Aleksandrov and I continue the course with one more example that I'm having with the counter trend 2
line from last night. 3
Recently the Bitcoin formed this kind of 4
quadruple top, basically we have double top when the price is trying to break certain level, and we 5
had here another top. 6
So, it was formed like a triple top formation and this bar actually was the highest. 7
Let me just zoom a little bit, so you can see exactly the price in details. 8
So, at this buy you can see that the high is 7445.27 which 9
is just a $1 above the previous high. 10
And then we have visually that these highs are lower. 11
So what we're doing, is we're drawing the counter trend lines from here. 12
So initially, I had this counter trend line here drawn from this point. 13
Yeah. 14
But what I'm looking for after that, guys, is more aggressive counter trend line, OK? 15
So, when this top was formed, I didn't have any counter trend lines here to enter. 16
So, I'm just moving it to the next top, to the next new top that we have over the price, and then I'm just waiting 17
for more aggressive counter trend line. 18
We had a discussion over the dashboard already exactly on the tops that we need to use, 19
in order draw the counter trend lines and the aggressive counter trend lines. 20
So basically, I am waiting for a new visual nice top in order to draw the new counter trend line. 21
OK, so one was formed over here. 22
Actually, I have missed this move over here, because it was during the night with me, and then I had another counter trend 23
line. 24
First, I wanted to draw it from here, but once again you can see this is not a top. 25
It is like the price is going up a little bit in a range, until here, until this moment where we have 26
this visual top because the price fell down, so after it fell down, I have place this counter trend line from 27
the top over here. 28
And then I had the chance to have 1 more aggressive counter trend line. 29
This is what we're looking for. 30
So, from this top we had yesterday, this lower high formed, 31
and I have placed as well this more aggressive counter trend line. 32
So last night, I have placed a buy order at nearly this bar. 33
Let me just take the cross. 34
So, it was approximately here. 35
I just put it a little bit higher than the counter trend line, and then the trade entered. 36
The trade was executed at 11 o'clock London time which was 1 o'clock midnight with me. 37
And I was already asleep. 38
So, what I am doing when there is a pending order or when the trade is open during the night? I'm just 39
checking it on every 2 hours, so I put my alarm on every 2 hours and I just have a quick look over 40
the chart to see what's going on. 41
And here I saw this huge move. 42
I saw that the trade was open, I saw that the price went aggressively higher. 43
So, my first alarm was somewhere here. 44
I saw it already it was up and I decided to leave it this way and to record it in the morning. 45
The price was already far away from the entry, nearly the Take Profit was reached. 46
I didn't place the Take Profit because I wanted to record the next lecture with the Never losing formula 47
to place a sell stop. 48
$70 lower, but it was not needed 49
at the end of the day, because the price just went aggressively higher. 50
So, during the night that it's already nearly $200 above, and it was the nice thing to 51
see doing the night. 52
Now, you can see my profit is $232 currently, even higher than my Take Profit. 53
So, I can just close the trade and Take the Profit. 54
So, what you see, is that I'm just Taking the Profit or my Take Profit would have been a little bit 55
lower. 56
But it is just when the original counter trend line is crossing. 57
So, this is what I was telling you before- we are out 58
just when the others will be buying, they will be buying after they see this huge move, or after they use 59
the counter trend line, because the counter trend line, guys, is very, very popular and a lot of people are 60
using it, but the aggressive counter trend line is what we are looking for. 61
There we enter at a cheaper price and there we take this huge profits easily, reaching to the counter trend 62
line. 63
So in this case, again I didn't have to use the Never losing formula, because the price just went higher. 64
I have used it for my other course, for my new course. 65
The Cryptocurrency Never losing formula- Bitcoin robot trading, which we actually launched yesterday. 66
So, in the same time here I had this example where I was entering with the robot, so there I combine 67
it with the Never losing formula. 68
And it was somewhere here, it was executed and I was out with $20 on a profit. 69
I just had the sell stop. 70
Then the price went higher during the night and it was out of the whole equation. 71
So, really nice to diversify the risk this way. 72
So basically, here I am using the counter trend lines, in the other course I'm using the robot in order 73
to execute the trades for me. 74
So this way, I diversified the risk between different strategies and systems and I'm not relying only on 75
the one. 76
This is something that we are doing in the Academy. 77
We use different strategies, different systems in order to diversify our risk, and of course by having 78
the Never losing formula we are just protecting our capital. 79
OK, thank you very much, guys, for watching. 80
I hope you also used this aggressive counter trend lines and made some profit over here. 81
Have a safe trading, always. 82
Cheers, bye!