Dear students, I continue now with the example because the Bitcoin continues to drop right now. 1
And as you can see nearly 6000, so almost $700 for one day. 2
Anyway my Take Profit was reached 3
as you can see and the trade was closed exactly with $360. 4
So, what I really need to do, is just I will need to delete these Buy Stop. 5
So, one more time just to review it 6
here is the counter trend line. 7
You can see I have built it over here, over this higher low, 8
and then the price one 9
time, two times, 10
three times bounced from this counter line. 11
I didn't have the chance to draw a good aggressive counter trend line, but 12
however you can see the price just to broke it, 13
went a little bit sideways and dropped dramatically which is still fine for me. 14
So, $360 over there into the account which is just enough for me. 15
And now I will keep looking for new counter trend lines because you see the price just formed actually 16
lower low than this one over here. 17
So, when the price forms this low I will use it as a starting point for the counter trend line. 18
OK? 19
Thank you for watching, guys. 20
This is how we use the counter trend line on the short side. 21
Keep an eye on the trend on daily 22
always to make sure you're in the right direction. 23
But if this level of 5955 which is the lowest point here from February. 24
Right? 25
If this level breaks and actually it is very possible to happen today, I don't know if it will happen 26
today, 27
and really I don't try to predict anything 28
as you know from my courses, I am just following what is in front of me on the screen and I'm taking 29
advantages of that. 30
But what I wanted to say is that if this level breaks and the price drops below 31
5955 we will be in a more bearish trend and I'm sure there will be great opportunities to sell 32
more the Bitcoin. 33
And basically, this is one of the huge advantages here that we are having because we are profiting when 34
the Bitcoin actually is dropping. 35
And unfortunately many people are losing in the same time on the exchanges but I'm happy I'm not one 36
of them, and I will be very proud of you if you succeed as well to 37
Take Profits with the Bitcoin even when it's dropping down. 38
All right, guys, thank you very much for watching. 39
And let me know if you have questions. 40
Cheers.