BTC/USD Daily Buy Trade Setup 6th March 2020

6 Mar 2020

I'm not normally a Bitcoin trader but I check the Daily charts every day, more out of curiosity. Today's setup caught my eye. A very good buy set up using my High Probability trading method, which is supported by hidden bullish divergence. Generally I don't use a stop when trading hidden divergence as I can normally work my way out of these trades. But that is when I trade FX. With BTC, I may be inclined to at least place a safety stop on the trade with plenty of wiggle room due to its volatility. Ideally I would want this trade to go up, but if it doesn't and a new sell signal presents, then a hedge sell would be taken with the same position size as this buy. I'll play this trade setup through and give updates as it progresses. I'm keen to see how it plays out myself as Bitcoin is a completely different beast than I am use to. Cheers.