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I see patterns, draw parallels, and mostly make profitable decisions. Dubbio ergo son… Pax literatí… Game theory proposes that: • 20% will be self-seeking • 20% will be moralistic • 60% just follow the one of the two they are greater exposed to… Where do you lie… why? Banter on, Banter strong

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8.3 & $BTC (Published: 14/09/22; Updated: 18/09/22)

GM Banter!Yet another morning this week, where I draft a weekly update on $BTC's price action.The reason for my hesitance to publish was yesterday's Federal Reserve address. With these posts I strive to continue to provide you with one post that will span and be reliable for the entire week. Convinced that Powell's speech was going to continue to be hawkish and bring price down I traded as such. However, there is always a degree of uncertainty on the announcement days. So, I decided this will be the perfect opportunity to continue my experimentation with playing both sides of the market (maintain both long and short positions).  For those interested in reviewing my first attempt with this technique you are invited to review  the weekly update of last week. Without further ado: The Charts The main take away from the daily chart is that $BTC broke out of the longstanding descending wedge, retraced, ultimately finding support on the former resistance or on the ATH of November 2020. To debate which is trivial. The important thing is to acknowledge that we have made a higher low, and have not retraced all the way to the lows of last week.  Two steps forward one step backward. Zooming in: 15 min If you would like to better understand why I have chosen to continue with the Bollinger Bands Indicator and how I used it to get the entry that would have given me over a 1000% ROI (I was stopped out with ~500%)  you are directed to yesterday's post where I explain the proper settings for the Bollinger Bands using insights from Statistics. Despite the evident constricting of the Bollinger Bands  and the price consistently being bought up at the lower boundaries. I am less willing to predict a bullish breakout, and put my money behind team bovine, given that:• we have been struggling to maintain price action above the 52 MA• the 24 hour turnover has been consistently falling whilst the Funding Rate becomes more negative. (Throughout yesterday's dump the Funding Rate was a stable 0.01%). • the daily stochastic RSI is crowning and about to exit the oversold territory.• the absence of confluence of the Bollinger Band boundaries on higher timeframes / MAs These signs lead me to deduce that the bulls are getting exhausted / disincentivised to continue buying at these prices. How am I trading? As I said in the preamble I have continued to experiment with the technique of playing both sides of the market evolving the method with the lessons learned from the prior week. I decided before the news broke yesterday that I would be shorting the market.Yet spooked by the pre-news volatility came to open a long position with an entry equal to that of my short position starting out in "liquidation purgatory". Which means that I have been nursing a losing position all the whilst price dumped.That is how I knew that I would have been at over 1000% profit had I not been so quick to advance my SL.But discounting the losing position I have grown my portfolio by half I have been scalping short and constantly topping up when I take profits on these short positions. Conservatively averaging down my entry whilst ensuring that I always have sufficient margin available to launch myself into liquidation purgatory if need be. On the 15 min chart, I have been shorting every deviation above the midline / 52 MA approach to the light blue resistance when there is the coincidence with an oversold St. RSI (≥ 90) without TP and advancing the SL to ~10% profit ASAP and when the price ventures to the support of the yellow channel's floor I aggressively advance my SL. Should price decide to jump out of the window again I have a conditional sell order equal to my long position value at the 24 hour low which will launch me into liquidation purgatory. I am actively trading and adapting to price volatility…100x leverage ensures nonstop excitement.Close to expiry of the Funding rate I usually adjust my position size slightly to ensure that I will always earn. ByBit's funding rate recently flipped positive, 0.0097%…24 hour turnover has not changed significantlyThe Bulls are Back (if Funding Rate is not a lagging indicator, I suspect it is)…🤞We should be more conservative with our short scalps. Update: 14:33  Price broke out of the ascending channel…But I had my conditional sell order waiting, it reached about 200% profit but I managed to bring forward my SL from the 10% to the last candle close before price rebounded…The bulls and bears are waging it out. A new sell order has been placed and the victor will bring handsome rewards ;) Update: 21:33 (UTC -4) I managed to catch one last small 10% short scalp and then had dinner and bathed…Missing out on the rally back up to the descending light blue resistance. As I write this $BTC is attempting to reenter the yellow channel, facing heavy resistance but given that the stochastic RSI seems to have levelled out and has begun to arch upward.I suspect it is only a matter of time before price approaches that resistance again.As I am going to sleep I will lower my conditional order as I will not be able to monitor and react to any rapid deviations down. Update: 15/09/22 8:19 (UTC -4) Immediately, you should notice that I have deleted that yellow ascending channel.My reliance is now solely upon the light blue resistance, St. RSI, and the BB%. At the time of writing: The 24H Turnover is about average.My rule of thumb for ByBit is • < 4 billion USDT is low volume• 4 - 5 billion USDT is usual volume• > 5  billion USDT is high volume The Funding Rate indicates that there are/were more short position holders in the market ByBit claims that the Funding Rate is backward looking, based on the market participants in the last 8 hours countdown. However, by my observations it seems to be more correlated with the current volume of longs and shorts in the markets. Shifting in tandem with the order book surges/volume candle lengths & colours. Under these current conditions, I will continue to scalp short any deviation above the light blue suppressor. Only becoming bullish once we have flipped that resistance into support and surpass the 200 MA. In hindsight, maybe I was too eager to advance my SL…Had convinced myself that we would bounce from there (off that wedge roof)Oh well, profit is profit and we should rebound eventually…Failing that I have conditional saviours lower. Price ventured lower, before rebounding, I was forced to accept a small loss. The funding rate is once again positive 0.01%, as the bulls seem eager to gobble up sub 20k $BTC as if it were krill. I'll also be hesitant to short from the light blue resistance immediately, and prefer to have proof of its sustained reliability before continuing to short.Not to mention the possible double bottom, playing out. Update: 17/09/22 $BTC has managed to flip a former resistance into support. Bullish 🐂 It has also achieved a recapturing of the 200MA (15min), a historically consistent bullish milestone 🐂 The Bulls are out in force this morning sustaining the relief rally.Failing to break through the resistance and collapsing the guiding upward trend lines will ensure a blasphemous revist to 19k on the sabbath… Fighting hard…will it be enough? Bifurcate Trading Experiment  (update) Yesterday saw my conditional sell order of last resort being triggered as a series of accepting small losses, put me in danger of getting close to being liquidated…the whole point of my experimenting with trading both directions was to in theory do lossless trading. Loss aversion spawns irrationality. You will usually regret accepting a loss in trend congruent scalping.I sabotaged myself from the start in beginning from a point of "Liquidation purgatory".Sustaining a losing position means that there will be a time where your margin will be deteriorated to the point in which you are unable to afford to launch yourself back into the safety of liquidation purgatory. As I foolishly repeatedly took profit and cut small losses, while simultaneously attempting to average down my entry. My position grew as my profit/margin increased. What I realise now is that unless you are able to capitalise on every leg downwards your initial loss will continue to accrue. And increasing your position leads to a faster deprecation of your margin. All in all, despite having doubling  my portfolio since initiating the trade. These profits will not be realised until I am able to exit both orders. In profit. My options at the moment are: To await for the market to make a mega directional move, so that I may close one position. Then continue to scalp in one direction / wait until the price enables the closure of the opposing directional trade. Or fund my account more and average down/up each position's entry, until I am able to close each position. Update: 18/09/22 $BTC tested yesterday's resistance but the bears seem to have the edge in this scrummage.I forecast that we will see a continued approach to the light blue support to force a directional decision. One of the hallmarks of Sundays are their low liquidity, which indeed stands true today. Whatever today brings, come Monday morning when the volume is once again amped up, the masses may either continue the momentum or decide on a reversal. Mondays are always tricky reads, especially in the post February 2022 "de-globalisation" Price action appears to be contained by that descending brown trend line.Until the bulls manage to convert that resistance into support that descending blue trend line may collapse sooner than anticipated. Breakout? Break down… Just sharing what I am doing…DYORStay Tuned :) Banter 0n, Banter Strong!✌️3y

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Best Bollinger Bands (BB%) settings

In last week's weekly $BTC update I described that I had believed that the science behind the Bollinger Bands lay in the Gaussian "normal" distribution (also known as the bell curve). To save you the University statistics lecture ram packed with mathematical notation I'll just copy and paste the definition provided by investopedia.com : "Normal distribution, also known as the Gaussian distribution, is a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean. In graphical form, the normal distribution appears as a "bell curve"."That 95% of the variance around the average is contained within 2 "standard deviations" (a statistic that represents the dispersion of prices around the average price) is why I believe that the default setting for the Bollinger Bands is by default set to two. However, the Gaussian distribution is also introduced to students as the "68, 95, 99 curve"  because ~68% of the distribution in price is located within 1 standard deviation of the average; ~95% within 2 standard deviations, and ~99% within 3 standard deviations and the 0.3% is disregarded as outliers / extreme cases. However, you are not to simply change the settings on your BB% from 2 to 3 for there are a host of pre-requisites that must be satisfied in order for a given data set to be classified as normally distributed.  However, statisticians assume that all data sets are at mercy to the "central limit theorem" and "the law of large numbers". Two theories upon which all of modern "social science" lie.  The first claims that if the sample size is large enough that all datasets are normally distributed, and the second that the more samples that you take the more reliable representative of the total dataset is a given statistic. I am not advocating for painstaking calculations prior to making a trade, but rather that you choose a higher number for the moving average (significantly higher than 20) and that you reference multiple time frames before settling on a given entry or exit when based on Bollinger Band boundaries. Personally, on the daily chart my preference is somewhere around 52 - 55 and smaller time frames 200 and greater. Experiment, with the differing moving average lengths with the 3 standard deviations setting observe the historical reliability and decide upon your own moving average lengths that you'll decide to base your entry and exit from the intersection with price and the boundaries (long and short). Just sharing what I am doing DYOR Banter 0n, Banter Strong!✌️3y

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Don't be retail! $BTC weekly update (Published: 09/05/2022 Updated:09/09/2022)

GM BanterFam, One post where I guide you through what I am seeing in the charts and update how I react to the different market turns every day multiple times a day. For those new to my posts, I (scalp) trade $BTC 100x leverage daily. Charts, I share so that you can learn what/how I do the things I do:starting from the macro and zooming in. Looking at the daily would confirm that we are still in a down trend and thus looking for shorts would be more advisable than the inverse. Retail only see price and thus the funding rate is currently at 0.01%.A positive funding rate means the majority of market participants are in long positions.So by going short, not are you trading in congruence with the trend but you will be on the receiving end of the funding rate. Now to the trading Charts: So, working on this update I missed my chance to get potentially a 50% scalp trade. But working off of the thesis that we will continue to get rejected off of the 15 min 200 MA.I have laddered into a short position and will continue to do so should we break past this resistance.  My main top up areas will be historic 15 min candle highs, the November 2020 ATH, and lastly that red dotted trend line. The Funding rate is in my favour and thus no rush to close the trade, until significant profits have been reached. I will consider my options for placing a SL when the stochastic enters the oversold and prints a new candle. Currently ~11% in profit UPDATE: 11:07 (UTC -4) Not long after posting the update, the price rocketed through the 200 MA.Filling two of my three additional orders, getting rejected off of $19,900 before my sell order could be processed. I am not worried, my liquidation price is well away and I am still on the receiving end of the funding. The higher price goes the more of my margin is consumed and the higher the funding distribution will be.  As more orders are filled my entry will be raised higher (averaged up).The trend and I are still on good terms. What goes up must come down… Update: 12:44 (UTC -4) I have been watching Netflix, the trade is now about 5% in profit, the Funding distribution has been received and the fees to open the trade have been paid off and the realised P&L is now positive.  The Nov 2020 ATH appears to have become resistance. I am expecting price to retrace and bounce off the 200 MA. If a candle opens below the 200 MA and the Stochastic RSI enters the oversold region I will consider placing a SL at the 200 MA (~18% profit).Failing that and we bounce off of the 200 MA and the stochastic enters the oversold I'll put my SL at 10%.I prefer to leave room for the markets to surprise me rather than TP prematurely.Current TP is at over 100%Funding rate is 0.0056% with over 7 hours to expiry… Update: 13:40 (UTC -4) The order was stopped out with ~11% profit.It probably is more profitable to look for other scalping opportunities than mine the trade for another 7 hours until expiry.My short orders are still in place should the price return to the resistance zones in this next stochastic cycle. Update: 14:48 (UTC -4) I guess I should have waited for the market's surprise a little longer.I did manage to get in another ~11% scalp trade by buying the bounce off of the Fibonacci retracement level 1. I do suspect there may be some bouncing around $19,700 before price makes a directional decision on where its heading.Yes, I agree I might be more successful had I leave my trades open longer, but call it max leverage risk management.In the fast paced world of scalping there's always another opportunity to lose. I have made my targeted profit quota for the day. And likely wont take any further trades, but if there's another opportunity, maybe. 09/06/2022 09:47 (UTC -4) Preamble Given yesterday's breaking into the supra-$20k region, I've decided to change my out look on the markets and not only look at one sided trades. Even though, I was eventually right trading the trend, I missed quite a few scalping opportunities trading along with retail. Additionally, I am going to be more risk tolerant today as both trades today were stopped out with minimal profits and despite achieving my daily profit goals, the price continued on to hit the TP: greater than 100%. I started working on this post just before 8:00 and have had to adapt and react to price action going counter to my original expectations. Refusing to accept a loss I think this is a perfect teaching moment on how to best trade cross margin price volatility without stop losses. This morning's charts The first thing I did this morning, was to add a "Mid Range" demarcation to the identified range that captured the last week of price action. The first thing that stood out was that the majority of price action was beneath this midline.At first glance, the midline appears to be a more reliable resistance than the Nov 2020 high (~$19,900). The second thing that I did was to activate the Bollinger Bands indicator. Looking to catch a long up to the midline I used the lower BB% as my first entry and the 200MA for my second entry point and the lower liquidity zone as further Top up zones. When the BB% contract that is a reliable sign that a breakout directional move is imminent, exampled by the constriction that occurred prior to last night's surge past the midline. I left the computer to go to the bathroom, and came back to discover that all orders were filled. I zoomed out, and searched for another support level.I decided on one which it would be best to double my position, should price venture that low. The price was not allowed to reach that low and rebounded to have me ~30% profit before getting rejected from surpassing the NOV 2020 high. Price returned to entry without me advancing my stop given that I was writing this update.I put another top up at the previous entry and will sustain this position until we reach the over sold region of the stochastic RSI and there is a clear sign of a turn around, or we penetrate the midline and TP. Update: 13:50  (UTC -4) Sometime after posting the last post. I drew a trend line of all the lower wicks, to verify that we were still in an up trend on the 15 min Then at ~13:00 price jumped off a cliff.We began to inch closer to the liquidation zone, I got deja vu…to  about two weeks ago, where I was caught in the same position and was forced to accept a huge loss. That calamity erased all the gains made in the "Off the Charts Competition" that witnessed me slide from 28th place to 800 something. I began to worry…Do I commit the same mistake?  ⚖️ My Options : 🤔…Am I fated to constantly buy the dip until I run out of dry powder, concede my losses and bow out by mercy of a stop loss.Only to curse not having more capital to buy further when price eventually rebounded and surpassed my TP. 🤔…Do I leave it and chance liquidation Why would you short at this late stage? From my experimentation with the Derivatives Defi (harvesting delta neutral profits by sustaining opposing positions). I observed that when you go long and short with the same position value you end up in liquidation purgatory. I'll probably lose in fees, and I'll have to TP at some point to lower my position and immediately go long and short again to avoid losses. Still would be forced to speculate on the bottom. It works in theory, only thought of it just now. Uncharted territory… Will let you know how my experimentation process goes.Only thing I am wary about is the constant deprecation of my margin by funding fees as the long position is far greater than the short. Will keep you updated 😉 Update: 17:32 (UTC -4) I have closed my short position set a buy order and a conditional sell order For I suspect a relief rally is due, Whether this is going to slingshot price to my TP?I don't know?But, thought it best not to miss out on a potential rocket up. Both sell orders have been filled, but my buy order has not been filled. So I am back in liquidation purgatory.  Should I find that we return to profit on the long and I find myself with a grossly negative short.I will either average up my entry and use it for the next sure shorting opportunity.  Or maintain it and collect the funding revenue.Now that I have discovered how never to be liquidated. Leaving my top up short and long orders in play as I suspect we might dip again  So my sell order was filled and now my liquidation price is achievable for my short but not for my long. The funding rate timer is close to expiry, but by skewing my order quantity to be greater for the short position the margin position is thus greater and upon expiry it will deduct a smaller quantity for the long position and earn a greater distribution for the short…i.e., Derivatives Defi No loss trading: I put a conditional order to even out the quantities should price threaten the short position's liquidity price over night. Update: 09/07/22 9:06  (UTC -4) Price seems to have found a brief resting spot.Let's take a closer look… On the logarithmic chart there seems to be a clear linear suppression of price.I have identified my immediate expectation for price's next visit… Seems like the bulls still have some vigour left in them and are willing to fight.Yes technically, this is a RS flip on the trend line that I have put my trust into… So, I glanced over at the order book (my rudimentary volume indicator) saw that the bulls may have some legs and actually dominate this scrummage. Market executed a close of my short order (~20%) and put a conditional sell order to a higher entry. So far my actions seem justified. I reconsidered my plan to recapture the entirety o the sell order at $19k, given that the bears seemed to be defending strongly the $18,900 price level, and the blue Stochastic was at 100 Deciding that it may be more sensible to split my order into two.The first at the previous short entry putting me back into liquidation purgatory and the next at $19k should price venture higher. I have selected $19k because of its psychological importance, not historic data. A reliable milestone that the bulls ought to claim and that the bears will surely try their hardest to defend. Back in liquidation purgatory 😏 The Stochastic RSI has begun to keel over, my short is ~40% in profit.Funding expiry is 2 hours away, I earned ~$2 by leaving it over night and the earnings made from the two shorts total ~ $125. So, if price doesn't return to $19k and fill my order and I lose slightly more than I'll earn it is not going to hurt, My current forecast for price action is to maybe bounce off of the trend line if mutually agreed upon by the market majority by the time the 15 min stochastic RSI bottoms out.Collapse that and we'll venture into the highly likely destination pause, maybe rebound before plunging lower. The funding rate has flipped negative…meaning there are now more short position holders than long. As the Bears pack their muskets and defend that $19K line After observing that the funding rate had turned negative. I removed my $19k short top up… Three hours later (lunch & movie + clean up), we have broken through the $19k psychological level advanced some $200 before turning around. I contemplated topping up my short position, but given the increased funding rate and liquidation risk I thought against it. By the constant rate of shorts entering the markets, I do not think it will be long again before the short is back in profit. I guess $19k was more important to the bulls than the bears. Good thing I didn't top up on that short…would have chanced liquidation… The only thing is that now my Short position is in a greater loss than my Long position.Shouldn't have been so eager to open a short position again in the future. Everything indicated further down side was more likely… Update: 09/08/2022 $BTC was just shy of breaking $19,450 yesterday evening.I have identified a new trend line that should we collapse could return us to $19k…Lose the $19k psychological region and that could be another cliff free fall.By itself I suspect that there will be great resistance at that price, but with the right / wrong macroeconomic environment… my next post title may allude to something to do with Niagara. The US Federal Reserve's Chairman Jerome Powell is scheduled to make an address this morning. In the ideal scenario, I'll exit both trades in profit as we tend to move bidirectionally on days when news is announced as markets react to the news reflexively and their immediate sentiment in response to the first take on the news. This is the first movement. Shortly latter the significance of the words and their content will be digested and participants change their outlook on what the latent meanings behind the speech, becomes more apparent.  Combined with those that attempt to secure their profits / wealth preservation and the downward force of the bear claw this usually results in a massive dump. Since reopening yesterday's short prematurely expecting further downside and getting caught shorting a relief rally. I am caught nursing two positions that are in a loss. My goal for today is to exit both positions without conceding a loss.I am not prioritising profit maximisation.Just loss prevention. After closing one trade, I'll not aim to open another right away, to maintain the liquidation purgatory status. Planning to instead put a (mark price execution) limit sell/buy order just before the liquidation price to launch me back into liq. purgatory if need be (likely that I'll need to recalibrate the limit order to a new liquidation price adjusted for the cost of executing the order) .Thus, allowing me the liberty to cancel it and capitalise on any higher / lower trade opportunities in the opposing direction.  Update: 09/09/20 Alright, that was another learning experience.As you can see from the above screenshot I have closed both trades. That pump this morning took my long into a hell of a lot of profit this morning. I attempted to call the top at $21,147, ended up exiting the trade at $21,037.5.Instantly, doubled up on my short position. However, doubling up on that short only managed to advance my entry from $18,907 to $19,743.My liquidation price went from ~$21,800 before after closing the long.After doubling up on my short my liquidation price slid down to ~$21,305.My unrealised P&L was somewhere around -$556 dollars on the short position. I no longer had enough capital at my disposal to put myself into liquidation purgatory should price threaten to liquidate me. I then was left with two options…put a stop or chance liquidation. Care to take a guess which option I selected? Yes, the percentage gained was less than the percentage lost…However, the position size was now double that of the long taken. So, the end result was I got stopped out and lost twice as much as I had gained.What always hurts after getting stopped is watching the price not hit your liquidation level and return potentially to your profit region. That has not occurred, but I will monitor continue to monitor it and see whether I will be "content with" or lament that stoppage.  My trading balance is currently one third of where it was at the beginning of the week. (Still more than what it would have been had I chosen to cut my losses with a stop and not open a short). But, I am not too phased by the loss.Research costs, and innovation potentially unlocks unfathomable rewards.Once I don't lose everything, I can always start again and "build back better".#StopLossofLastResort It's now 12:41 and between 11 and 11:30 I would have been liquidated had I not been stopped out. Next time I double my portfolio, I'll partition my account.An experimental ByBit account where I continue my experimentation with no SLs, and one in which I use stops (my 100x control group account). Likely that this will be the last update I make until next week's.As I will probably get to reading a textbook on forex scalping that I have wanted to start since last weekend. Just sharing what I am doing Draw your own charts Banter On, Banter Strong!✌️4y

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$BTC Weekend Red Alert 🚨 (Updated: 02/09/2022 15:35)

GM BanterFam,Apologies for not getting off a weekly update this week… As I woke up Monday morning…I saw a trading opportunity took it and was engrossed in high intensity action packed trading for the majority of the day. After last weeks loss I had to prioritise my own portfolio. Posting what I had planned and prepared after seemed like the trading equivalent of a cock tease or coitus interruptus.However, I did manage to get off what I was preparing over the weekend: Successful Scalping : essential reading for anyone attempting to mimic my technique  And now to the meat of today's post…$BTC On the "Regional View" I elucidated that there were four days until the reunion with the last diagonal resistance that was the catalyst for the last grand sell off of $BTC. However, on the daily magnified view it became apparent that there may be another more precarious suppressor that we are rubbing against today! Additionally, count the days prior to each dump 😰 Zooming in further… I know that the lines are faint, but if you click on the photos and open them bigger my reason for concern may be more convincing. As per usual going off the daily chart I drew two trend lines, because we are in a downward trend I saw it more appropriate to seek out a resistance pattern than the supports.The green dotted line accounts for the top of the candle bodies whilst the red accounts for the wicks.Seeing that yesterday we broke out of the 15 min flag and did not make it all the way up to the red dotted suppressor. I suspect that we will see a surge up to the red today and then down shall come the hammer as though wielded by a norse god. I had to take a break while writing this post to set my sell orders, of which two of the three have been filled…The red dotted line is yet to be breached. Update: 10:18 (UTC -4) Stopped out in ~30% profit…SL placed as the new candle clocked a lower low Price rebounded and I raised my entry …rinse and repeat 😉 Update: 12:47 (UTC -4) I allowed myself to get stopped out (~60%)…The price continued to creep lower, but my rules declared that it was time to bring forward my SL:  • Made a lower low• Stochastic RSI just entered the over bought area Perhaps, I ought to amend the rules to include, "don't advance the SL until a new candle is printed" However, I'm moving a little bit more conservative and protective of profits made, possibly haunted by last week's loss. I still believe that the price will venture much lower, but I have placed a small buy order at the 200 MA and refreshed my short position. I am growing more convinced that price may rebound as I suspect that short position holders have taken profits: given that the funding rate has changed from -0.0165 to -0.0043 The order has been filled and we seem to be bouncing off of the 200MA. Should price continue to descend I will consider doubling up my order should we extend to the white horizontal, perhaps starting from the green dotted ¿support?. Update: 13:30 (UTC -4) Our bounce off of the 200MA was short lived, I got stopped out with ~10% profits. I then reloaded the orders as planned, placing them at the green trend line and at the white horizontal.  I have extend the demarcators of the previous channel that $BTC was bound in before breaking out yesterday.Should both orders get bought I will proceed to wait for a bottom to form, and double up my position.Funding rate is now 0…I am willing to accept a loss equal to the days profits. Always start small and ladder into your trades. Update: 15:14 (UTC -4) I escaped to the bathroom and glanced at my phone, discovered that I was in profit ~60%.Set a TP at ~200% ($23,400) and a SL at 25%. I was stopped out at ~25%… Is it not marvellous how the price seemed to react instantly to my extending the red channel from earlier this week.Almost as a recognition of where it was heading to… visited and turned back around.That the price was rejected off of the 200 MA is a bad sign for the bulls.We are now back in that gap between the white horizontal and the red descending.A successful day, best I don't tempt fate.I am going to try sitting on my hands. Even a broken clock is right twice a day… Be safe this weekend 🙏 Just sharing what I am doing Draw your own charts (even if it is just copying)…Sheep get slaughtered Banter On, Banter Strong!✌️4y

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Successful Scalping…

Hey Fam, So for those that have been following my weekly $BTC post series (a new post every week and updated daily). You will know that I only trade BTC using 100 x leverage daily, I SCALP and not trade. But, one of the cornerstones of my practice is advancing my SL relatively quickly and this results in my getting stopped out quickly while the price later proceeds to hit my targeted TP zone.I have become a full time trader, and thus have the time to sit in front of the screen all day; day after day and reload my trade if I do get stopped out and the price retraces back into my buy zone. Max lvg. requires max attention. Maximum leverage, allows you to take full advantage of this notoriously volatile asset class that is crypto. But, it also opens you up to the increased risks that come with the increased rewards.One of the first concerns that I had when setting out on the task was that of fees.How do I trade these rapid turns successfully and still make a profit despite the cumulative depreciation  of exchange fees. Using yesterday's trade as an example I'll demonstrate my reasoning. The first thing is understanding the sources of fees. 1) Fees to open a trade2) Funding rate3) Closing fees Initial feesThe exchange charges you on every transaction you make, that is why when you open a trade there is an initial loss under the section "Realised P&L" (green circle).For some reason it always costs slightly more to short an asset than long one, possibly because it assumes that shorting requires a greater level of sophistication / experience or it may be a subtle nudge to create a more bullish market.  Funding rateThe funding fees are a transaction that occurs between market participants every 8 hours.When the funding rate is positive market participants that are long on a given asset pay a portion of their position margin to the participants that are shorting that asset, and vice versa when the funding rate is negative. ByBit does not disclose the percentage of the transaction that they pocket as commission.The funding rate is always listed with the time until expiry (yellow circle). If the funding rate is close to expiry and I am in profit, I will often close the trade to avoid paying the funding fees if I suspect that the price may retreat, but if we seem to be going higher I'll deem these fees to be worth the cost of maintaining the trade. Closing feesWhether you limit or market execute a close the fees will be the same.It is often necessary to see what your closing fees are by checking in either of the close by options (limit or market) as it is not shown in your Take profit / Stop loss selection.The fact that these fees are hidden is how scalpers often lose by trying to close the trade too early. In most cases you will need a minimum of 9% profit to more or less break even…Not accounting for the funding rate. When conducting a trade I like to put my SL to profit as soon as possible.An easy way to ensure this is described below. When the trade is greater than 10% profit, paste or enter a value greater than that of the 10% value as your SL and hit confirm. Just sharing what I am doing  DYOR Banter 0n, Banter Strong!✌️4y

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Truly a vampire asset…$BTC weekly update (Published: 22/08/22; Updated:24/08/22 )

GM Fam 👋 Investors are bleeding out, whilst we short it to smithereens.  As per usual I have shown the macro and honed in to the smaller time frames. I do this so that you will have complete transparency on the tributaries of my inferences judge their worth and so that you can replicate them on to your own charts if you choose. So far for the day I have made two short scalps that increased my portfolio 1.5% or so the off the charts rankings attest. The trades have been shorts off of the lower orange resistance and a secondary order at the high off of the first/green deviation. Neither trade reached TPs but were stopped out > 30% profits.When scalping as I will prescribe for these highly volatile markets.Preservation of gains is the name of the game. Update: 11:55 (UTC -4) Saw a short opportunity setting up, tried to alert you but there was a break out. I hypothesised that it would get rejected by the higher / orange resistance.Placed my first entry at the 0.236A second entry at the trend line (0 fib level) The order hit and retraced, I put my TP at the 0.618 and advanced my SL to the 0.236 and then came back to write this post. Trade still open, my plan is to advance the SL as we descend past each fib. level.SL advanced to 50% So, my SL was triggered at ~50%, then it proceeded to retrace past the last position at ~25%.I felt pretty smug with myself with the call to advance the SL to double what it would have been had I just left it. Then, I returned to my computer and saw this chart: The trade sailed past the 0.6184 and seems to be heading to the lower trend lines (on the lower magnification charts above you will observe that I have four candidates for support). Better off than if I didn't take any trade#ProtectYourProfits I am sitting on my hands and not going to attempt to catch the falling price, until there is a profound determiner of support / potential turnaround. Slight deviation, but seems to have caught a support Seems to be a reliable support level, now that its not merely two touches.I feel confident enough to trust it and use the green line to be the origin of some longs. TP'ed at the last candle open on the way down, with ~30% profit.It might go higher given the low stoch RSI, but no problemo, we are scalping.I have set another buy order for when it revisits the trend line. It would appear that we are getting rejected off of an extension of a former resistance, if we fail to surpass this region when the Stoch RSI reaches oversold, I'll consider shorting from their to the green support where I'll long again. My order was not filled, but the price is quickly being rejected I have removed my buy orders given that the stoch RSI has only just started to crown.Bracing for lower lows / descending past the former green support. Triple top identified, + Stochastic > 100 = SHORT!SL when we make a lower low, hopefully no RS flip on the orange… 18:57 (UTC -4) —Stopped out ~15% profit Update: 23/08/22  6:59 (UTC -4) Glancing at the 15 min chart you will notice that the price has respected the confines of the triangle drawn yesterday, and is threatening to possibly break out.  I have only just gotten in front of the computer, and had my morning coffee.Haven't placed any orders for the day, think it sensible to wait for some clearer direction in the markets before initiating any trades. Above is another perfect example of the importance of the two trend lines (green from the candle bodies & red from the wicks). I woke up this morning to alleviate myself (circa 2:30), I did my business and then grabbed my phone to see what $BTC was doing.The price was I think ~$21,006, I placed a purchase order for $21k exact (remembering my trend lines from yesterday), watched the price dip to $21,001.50 and then surge back up.I left my order and went back to sleep only to find that 4 hours later that the price was ~$500 higher.Takeaway: avoid round numbers…think I learned that lesson before. Stoch RSI had just about bottomed, I decided to place a small long order. Order was not filled and we seemed to have made a Resistance Support flip. If the order is filled I'll put the TP at the last significant high. If it pulls back I plan to stock up at the 200 ma and each of the lower supports, (green / red) It would appear that we have failed to sustain the break out, no worries "pull back plan" deployed… Price thus far seems to be staying clear of the 15 min 200 ma, the new candle has only just been spawned…hopefully it is the RS flip that we are hoping for. Going to watch Ran's show will update again after Facing some sell pressure, but making higher highs, not going to think about putting a SL until we reach 100 on the stochastic RSI. Didn't quite make it to the oversold region yet, but looking at the order book the shorts really started to surge.I made the judgement call to put a SL at one of the previous highs.Stopped out in profits… That appears to have been the ideal call given that we pulled back from there.Thought about shorting, but didn't think it the most brilliant idea given the falling $DXY Stoch RSI still riding high, but price seems to have found support on the 0.618 fibonacci (the sweet zone), So I decided to start laddering into my order from there…started small and each additional top up will be double the previous in order to drag down the entry significantly. We indeed retraced and failed to hit the exact point on the trend line to fill my order.$BTC has rebounded to above the 0.6184 (my first order), yet the st. RSI is still oriented downwards and yet to bottom… I put a top up at the 0.786 fib level and will advance my SL at first with each wrung up on the fib retracement passed and then use historic levels. Flying without TPs Did about 3 - 4 scalps off the 0.618, before we finally returned to the trend line where my order was finally filled. I am hungry, so I let myself get stopped out with meagre profits so that I can finally take lunch. Its been a profitable morning, Bon appetite 😋 I will ladder into a long position in three entries: 1. The green trend line2. The red trend line3. The orange support I decided to change my approach since the last retrace from the pump did not descend immediately to the support, possibly being held up by some unknown line. My plan is to put the same amount for each entry and not look to seek to significantly drag down the entry as I would normally, given that I transferred out profits from Bybit and have less capital to cushion the liquidation zone / buy should price deviate lower than anticipated. Update: 24/08/22 (UTC -4) Gm again,I canceled my orders from the previous day and went to sleep before any were filled. New day another millionaire made 🤞 The first thing that I noticed this morning was that $BTC had not even flinched at those additional trend lines that were offered before it for yesterday's orders. They were erased. The second thing was that apparent descending resistance. I opened an order just below the 200 ma, set a second for the return to trend line. Before I knew it the price had darted up to the dashed resistance. I put a SL at 30% profit took a screen shot and took to writing this update. I was stopped out, then price deviated, and is now getting rejected.We'll see how the day progresses. We indeed broke out…Currently laddering into a short position, given that the stochastic RSI reads 100As always started small leaving room for surprises, currently in meagre profits, but I am going to leave this one open with the hope that we don't bounce off of the former resistance (dashed line). I plan to put my SL once we cross the dashedTP at the convergence of the orange and green supports. We seem to have indeed bounced off of the dashed resistance line and registered a slight higher high. The funding rate is not in my favour, but there's a little more than 3 hours to expiry:No rush to close the trade and if we do achieve new highs…I have my additional orders in waiting.Could have bailed out with ~25% profits and take load up again…But that wasn't the original plan. Watched Ran's show.Missed the opportunity to set my SL once we crossed the dashed line…We crossed, bounced back a few times before clocking new highs and filling new orders. I let myself get stopped out with ~12% profit.New orders have been set shall we explore previous heights… I am confident that we'll at least return to previous places given that the stochastic RSI seems to be heading for the overbought region despite an ascending momentum in price candles. Not my finest two hours trading, those were. The $BTC surge resulted in my buying and buying as the price kept on rising.Happy to take the ~12% so that I could finally go to the bathroom. Takeaways: await a clear peak before looking to short or do so starting from generous / achievable historical data. Update: 26/08/22 7:51 (UTC -4) Apologies for not getting a chance to update yesterday, I had a slight problem with ByBit / Banter's Off the Chart's ranking system and was waiting for support to get back to me. I spent yesterday trading (none the less) guided by that purple trend line, longing each coincidence with price and shorting until the return to. Most day's I close outstanding orders once I leave the computer.However, last night I had too much conviction in the trading repertoire of the previous day's success. Having been stopped out (~25% profit) on a trade that I had resolved to leave open over the night, I had left my lower orders open. Before going to bed, I glanced at the ByBit app, not expecting my orders to have been filled and was surprised to see that there was indeed an open position. At what was at first a ~7% loss and then I saw it move to ~5% loss.I left it open and went to sleep convinced that it was a mere deviation. Waking up again at ~2:00 to discover that it was now lingering in > 50% loss.Nonchalantly market executed a double up on my order watched the loss decrease to ~5% and went back to sleep. Currently, the loss is lingering around 50%… I have a contingency plan should the trade go further south, but currently hoping that that dotted red trend line does not push the price further down by becoming resistance.Should we break and establish a new candle confirming support.I will consider again doubling up the position and move my SL to a recent low. Please draw your own conclusions from this anecdote…potentially many. The God Candle resulted and we rapidly TPed before I could double up my order. Pigs get Slaughtered The success of that last trade, resulted in my getting greedy.High off of the intoxication of securing a landfall gain (or Ran's Birthday Scotch), having been forced to constantly buy the dip. I held nearly my entire portfolio in that last trade, and it resulted in a colossal pot being collected. Now what?Sit on your hands:Sure…I saw an opportunity, possibly it was the right opportunity…would not know because I got greedy and tried to load up the majority of my portfolio yet again.  My err, was that I was haphazard in doing so and was negligent with my risk management.  The result was my invalidation zone kept being brought higher and higher and resulted in my getting stopped out or liquidated. Still up since the competition began, but I have lost the vast majority of those gains.Only fair that I share my failings, if I am to gloat about the times that I have succeeded.  What kills me is that my original invalidation zone was not breached… Always prioritise your focus to your risks…Greed is blinding. Stay tuned for real time updates Just sharing what I am doing, Draw your own charts (always) Banter On, Banter Strong!✌️4y

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$BTC Double Bottom

T minus 2 hours 40 mins to FOMC minutes…4y

LIVE CRYPTO TRADING

Who let the doge out ?

$DOGE! Hate it or love it, should we get a dovish tone in tomorrows' FOMC meeting. It could be poised to well rip over 30%… Just sharing what I am seeing / doing Draw your own charts  Banter On, Banter Strong!✌️4y

LIVE CRYPTO TRADING

$BTC is this the end of the friendship? (Published: 15/08 — Updated: 21/08)

Gm Fam👋 If you have been following the trend lines in my last weekly update and buying the support and taking profits at the resistances. The week would have been a financial success. But, what is the out look for the upcoming week… If the definition of insanity is "doing the same thing with the expectation of different results".Is it sane to continue a successful trading repertoire and expect continued rewards? $BTC is in a precarious position as we speak. I have realigned my trend lines from the previous week's charts. The green now encompasses more accurately the daily candle openings, whilst the red better accounts for the candles' lower wicks. What is noteworthy on the daily chart is that we are trending downwards yet consistently have been registering higher highs while simultaneously making lower lows. This is referred to as a megaphone pattern in technical analysis.  Is it bullish or bearish? The set up is a bullish megaphone pattern on the daily and this thesis is congruent with the inclining trend line on the weekly chart. However, we need one more daily candle of higher highs and lower lows to get any clarity on how best to trade this set up. The megaphone pattern is indicative of indecision in the market and one can never be sure at present what macroeconomic or geopolitical event will deliver the verdict for a given direction. Haven't experience with trading this set up, but we got to start somewhere. Do you have experience with this setup? What is your take? 16/08/2022 Friendship over… The long anticipated third daily candle is in the process of being printed and unless the bulls respond with some sort of instant stampede driving price to new highs the thesis of a bullish megaphone pattern will become a bearish flag as Mams@bbs astutely recognised it. The 15 minute chart adds reinforcement to my assumptions: The consistent defiance of former obedience to a previously diagonal support, has me leaning a bit more bearish than bullish especially when you factor for the current macroeconomic climate. Unless, we regain the two trend lines as support, my day's scalping shall be shorting from the trend lines with my TP at about $23,800 an advancing SL and the invalidation zone just beyond the higher / green trend line. Update: 15:02 (UTC -4) $BTC is not being allowed to return to the trend lines.I have identified the following channel that the price appears to be observing. As with all my posts, I'll give you the macro view and then zoom in so that you can replicate on your own charts. I opened a short at the midline expecting us to get rejected from there…then the following happened 😖 I then set an another short order just before the channel ceiling, an order at the red trend line, a conditional order for 75% of my margin at the green trend line and my stop loss immediately after. Luckily, for me the price returned in profit allowing me to be comfortably stopped out. However, it did wick down to the previous candles' lows. 17/08/22 Last night before going to sleep I opened a long after observing the following series of higher lows. Set a TP at $24,151 (red trend line intersection) and went to sleep. I don't often open a trade, go to sleep and hope for the best (usually, will have trouble sleeping).But in the end it played out more than well.  As you know by now, we had a brief surge last night and got rejected at ~$24,400.Re-entered the channel, I opened a long at the midline and doubled up at the channel's floor. Why?—I am banking on dovish FOMC minutes 🤞 In retrospect not the best decision given that the channel's ceiling became resistance. I guess I am an optimist at heart. Bear case: I have an additional double up on the white [hopefully] support. (Still a small portion of my portfolio, so liquidation level is well away.)Bullish case: I market execute an order reentering the channel. Will update as the day progresses.FED meeting 3 hours away… Update: 11:27 (UTC -4) Hopefully we break back into the channel Update: 12:34 (UTC -4) T- 1 hour 30 minutes until the FOMC minutes  The minutes of the FOMC meeting have been released and at first glance it seems to have been neutral.The markets have initially reacted bullish, and is now retesting the break out of the return to the channel. My stop loss has been moved to break even (adjusting for exchange fees).My TP has been set to the red trend line.I will trace the SL up every couple of higher highs. 17:13 (UTC -4) I was stopped out with ~20% profits. Attempted to long the retest, which we subsequently obliterated and I suffered some meagre losses. Take away: Should  have waited for the Stochastic RSI to reset. 18/08/22 I felt it necessary to show you the magnified view to emphasise the importance of these historical trend lines, and why I don't often delete lines that I draw on the charts. $BTC would appear to have bounced off the precise trend line. I targeted the maintenance of price action above this exact line as the criteria for my bullish thesis outlined on the 11th of August in an update to my very first $BTC weekly update post. The day has only just started but we have returned to the confines of descending channel outlined. Despite being in an upward trending smaller time frame chart. I am laddering into a short position and I will not place a SL this time as every time I have been stopped out the price returned to my TP without hitting my liquidation zone.I have been shorting since last night and have been topping up gradually, with my liquidation zone far away. Collecting funding rate revenue over the night. My expectation is that we'll collapse the trend line and return to the floor of the channel (if not lower). 11:17 (UTC -4) In line with expectations $BTC collapsed the momentum line. Support became resistance. I put a SL once we made a lower low and put my SL a little below the last historic low ($23,380).And was stopped out with about 30% profit.Awaited for a new candle to print and put two new sell orders, One at the previous high, and another at the return to trend line.TP at the channel floor. 12:32 (UTC -4) 15:09 (UTC -4) $BTC is currently being suppressed by the pink downward sloping diagonal.With the channel floor being verified as a reliable support with 5 count contacts of channel openings. Whilst writing the post $BTC managed to turn the previous resistance into support. This is why I always start my initial trade small should the price defy my expectations ensuring that I can safely buy higher and "average up" the entry on a given short position. My next planned entry is at the midline, procession higher, I will enter again at the channel's ceiling. If the price proceeds higher still I'll await for it to crown before placing any additional orders. 15:50 (UTC -4) The midline was not achieved the stochastic RSI was ~100; so I market executed an order.The TP has been set to  just after the floor. To catch the inevitable wick past. Hopefully, we don't bounce again off of the pink trend line. 16:03 (UTC -4) Had the chance to bail on the trade at about 20% profits, but I didn't pull the trigger. We are yet to penetrate the midline, stochastic still riding high…💁🏻‍♂️ not worried…liq. zone far off Stupidly stopped out only for this to happen… Lessoned learned : Await the stochastic RSI to bottom, before letting yourself to get stopped out! 19/08/22 07:59 (UTC -4) I think it is now safe to declare the bullish thesis as officially invalidated. I reiterated yesterday that one long standing criteria for my bullish thesis was the maintenance of price action above that white trend line, that was again established as support on the 17th. The bulls fought hard to regain it last night, but at 2:15 (UTC -4) there was capitulation brought about possibly by panic selling in the European markets. Usually, I would state with conviction that we would target the lower counter part of the long standing white descending wedge. However, that is merely a smidge above the close of the last daily candle low's opening (yellow highlighted price). Bypass that area of support and there is a very real probability of us exploring the sub $15k price range. 9:34 (UTC -4) Currently 25% profit in a short position… Plan is to wait for the stochastic RSI to bottom and then move my SL down to hopefully beneath the previous low. 10:08 (UTC -4) Stopped out at ~48% bought back the same amount at retest. 10:20 (UTC -4) Stopped out again ~20%, set another buy order for the return to trend line 10:47 (UTC -4) Sitting on my hands 11:50 (UTC -4) I am in a long, SL at ~20% profit. Not much has changed. Realised that the candle was struggling to clock a newer high.So, I repositioned my SL to the candle's low (preempting a pull back). The candle made a new high and then immediately pulled back stopping me out (~35% profit). Not yet pulling back, so maybe I was too eager to advance my SL and conserve profits. Better safe than sorry… Feeling pretty sorry now… 20/08/22 9:45 (UTC -4) $BTC has caught on support just above the 20k price region.Lining up perfectly with levels earlier in July. Finally, we are witness to the reset of the stochastic RSI on the daily chart.Safe to assume that we blast off from here? The 15 minute chart seems to indicate that we are following a rising trend.However, market sentiment (inferred by a recent record high negative Funding Rate of -0.0102%)  would seem to indicate that more lows are being sought after by the masses. Stop loss hunters / Market makers like to throw counter expectation wrenches into the machine, and send the occasional wicks up (more easily achieved in the retail dominant markets, that are weekends).However on Saturday's the Daily Turnover is usually higher than Sundays' so I expect the day to be about as tumultuous as your typical week day's. Therefore, the majority of my days scalping shall be long positions, buying the returns to the trend lines with advancing stops. 12:00 (UTC -4) There was a deviation from the trend line, and my orders at the green and red were filled.The 15 min stochastic RSI was well into the oversold region at the time of the last post. So I doubled up my order once the stochastic had bottommed at about $21200. Suspecting that we would face some sort of selling pressure at the $21,300 level I moved my SL up to $21,285, where I was subsequently stopped out with about ~20% profit. I did that despite the stoch RSI only recently venturing above the 20 region, because we were pulling back from the former diagonal support.I was thus protecting my profits gained from being lost in a support resistance flip. The price protruded further through the trend line to a high of $21,343 before retracing and getting rejected off of the trend line establishing a lower low. The trend is still going up, and I will continue to scalp long. 13:34 (UTC -4) Stopped out ~ 45%,TP was at the underside of the trend line, however we couldn't achieve the $23,300 level. 21/08/22 It did seem to be up only from that point yesterday, counter to what the masses were calling for. I am in another long position this morning, despite the masses expecting the price action to go south. Another purchase order has been placed at the inferred trend line, should we deviate from my trajectory with a SL soon after. The daily turnover is half that of during the week's so there is the expectation that the price action will be especially erratic. Fasten your seatbelts… No sooner than when I hit publish, $BTC plummeted to the trend line filled my buy order, bounced off and I had time to move my SL to 10% profit and was shortly stopped out.I have re-stationed another order on the trend line. It seems to have been up only since leaving that trend line / my getting stopped out…I managed to get another entry in lower than on my original order and have flipped irresponsibly long.  —TP currently positioned at the underside of the white trend line, I am currently on the receiving end of the funding and will try to resist the desire to advance my SL and see if my TA is good for activities other than those associated with Polynesian aboriginals…i.e., trading and not just scalping. The low daily turnover compared to the regular week on Sundays proved to have not been the ideal time to switch from scalping to trading, a darth maul candle on the 4 hourly stopped me out and some losses were sustained, but I switched back to scalping and recovered my losses and climbed a little bit higher in the rankings. This is the last update.New week, new article. Just Sharing what I'm seeing / doing Draw your own charts Banter On, Banter Strong!✌️4y

LIVE CRYPTO TRADING

$BTC weekly update (Published: 08/08/22; Latest update: 12/08/22)

GM BanterFam,So, yesterday's post was indeed justified.I however left my trade unattended for a little longer than anticipated, was a tad bit too greedy with my TP and found myself suffering minor losses in the pump.I did however catch the long on the retest.  Reinforcement of core lessons and the importance of adhering to rules: • Max lvg. requires max attention• Standardise your trades / Don't compound your risks And of course: Trust your TA#Schoolfees 08/08/22 In an attempt to provide you all with one post to guide you for the week I took to the monthly chart and identified the possible milestones to cross on the potential stampede that is hopefully forthcoming. Daily chart takeaways: Bullish Scenario BTC is yet to print a higher high, broke through a major resistance yesterday, retested and is now being hindered by a second diagonal.  If we can indeed achieve the close of the daily candle above this white oppressor and confirm this rampage I see a breakthrough of this resistance being possibly impeded by a slew of historical levels, before that coveted 30K region. July 2022 high: $24,695May 2022 low: $26,536January 2021 low: $27,923December 2020 high: $28,921.5 Bearish Case With the current geopolitical environment and macroeconomic turmoil that it promotes one must always be wary of the down side and have a clearly defined null hypothesis for your bullish thesis. H0: There is no break out from this white resistanceThen, I will look out for support potentially being caught [tomorrow] on the:• green momentum line (@ ~ $23,231)• the orange trend line (@ ~ $22,939.5) Losing those two regions I would possibly short all the way down to the lower counterpart of this white resistance (@ ~ $19,792) On ByBit the funding rate is currently negative meaning that short positions out number long positions Every trade taken (short or long) will all be with advancing SLs.Choose the lvg. that you are most comfortable with. 09/08/22 The $BTC price bullish thesis failed to gather sufficient support with the daily candle close being under the white descending diagonal.  The orders identified yesterday were filled with price ultimately bouncing off of the descending orange trend line. I was stopped out with meagre profits, and the price continued to climb at the time of the above screenshot, but now the price is back between the orange and green support. I do not currently have any active positions in play and I am waiting for some sort of confirmation on price direction. Namely, a continued bounce off the orange line (@$22,863), or its collapse. For those of you anxious about missing either move, a possible play will be to ensure that your ByBit settings are on hedge mode and place both short and long orders on the orange momentum line, of course with a stop loss on each. I have never done this technique but it was something that I thought of as writing.If you do indeed do this, make sure you can actively monitor the trade as you may be stopped out of both trades in these moments of high volatility / ambiguity (and potentially double your losses).  If unable to actively monitor you may want to consider halving the size of your normal trading position, so as to ensure that you are only risking the same amount of capital. #ExperimentalTrading#TwoTailedDesign 10/08/22 As a proof of concept, I decided to try my equivocal trade set up, described yesterday. Here's how it played out… The line broke, both trades were opened, I watched the wick quickly descend and stop out  (~20%) the long trade. I didn't take profits on the short expecting it to plummet much further. Watched it retrace from 30% profit to -1% as we returned to trend line, half expecting it to bounce off the trend line and descend further, contemplated topping up the short position but decided to market execute a long instead and leave both direction trades open.  Once I became convinced that we were bouncing off the trend line and returning to climb up I closed my short (at about a 10% loss) . I tracked the price up to about 90% profit and advanced the stop loss ultimately getting stopped out at about 50% profits (telling myself I'll reopen if we returned to trend line). However, I canceled the buy order before I went to sleep missing the opportunity to catch the retest. In the end, I came away slightly better than not taking a trade, but moving forward:Waiting for the markets to resolve a clear direction, is the best option. #School fees The US' CPI results came in better than forecasted and the price of $BTC consequently surged and broke through the previous resistance. Upon observing that the price action was again thwarted from progressing beyond the 0.786 fib level. I placed a string of short orders took profits at about 25% and expecting revisitation of previous highs. My account is well funded and I have the luxury of time to monitor the trade should the price do anything contrary to expectations. #TradingCommando 11:00 (UTC -4): Stopped out again with about 25% profitSell Orders refreshed! 12:00 (UTC -4): Stopped out again with about 25% profitSell Orders refreshed! 12:32 (UTC -4): Stopped out again with about 25% profitSell Orders refreshed! 14:10 (UTC -4): Since getting stopped out that last time, $BTC's price has not ventured above $24k.On the above screenshot it would appear that the price has established the 0.618 as support. In the spirit of "trusting my TA" I have placed a long on the white trend line (cf. green highlighted price) with a TP set to $24k (~96% @100x).While the red highlighted boxes (above the yellowed price) are my current short orders.The largest of which is just before the invalidation zone (July high), with my stop shortly thereafter.  15:00 (UTC -4) Shortly following the last update $BTC collapsed the white trend line.I am trading without a stop loss, but its all good. My TA is reliable, I placed an order just on that green momentum line and the price responded. Currently at 20% profits, but will leave it a little to see how the market responds (stop loss currently at ~10% profits) 11/08/22 GM, That was an epic run yesterday, I held my long until my TP at $24,200. The bullish thesis is back in play, with the printing of this day's candle above the white resistance line. As, I write this update, $BTC is struggling to conquer that July high. What will vindicate the bulls is the realisation of that line as support. These bull vs bear scrummages are quite enthralling.I am trading other alt-coin pairs today, but one eye will always be on big daddy as a leading indicator. This break through seems to be holding :) The first domino is tipping… 12/08/22  Yesterday, as expected we have been rejected at our attempts to penetrate the previous month's high. If, you were looking at the 15 min chart you would have seen a double top above the July high, and it has been all down hill since then. I previously referred to that red momentum line as the last stronghold for the bullish thesis.Thus far $BTC's price has been reliably cradled by this line, apart from this morning's deviation. The trend is currently oriented downwards and thus my most profitable scalp trades have been shorts. |f I see a Support Resistance flip, I will then open a longterm short with a targeted TP aimed at the orange support. Until that manifestation I am topping up every time we touch that red support.I am on hedge mode and shorting each deviation of the green momentum line with advancing SLs and my TP at the red line. Just sharing my insights / experiences Deliberate and come to your own conclusions Banter On, Banter Strong!✌️4y

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$BTC crucial decision time…😬

Gm Banter fam, Deviating from my weekly bitcoin post to alert you to what could be the next catalyst for a significant move for $BTC… As per usual I will share my macro charts and hone in to the finer timescales so that you can best evaluate the tributaries of my inferences and come to your own conclusions: The main take aways drawn from the daily charts is that tomorrow is the conversion zone of the two trend lines that the price action has been reliably observing. Orange resistance: Originating at the price peak in April this diagonal has been a reliable resistance from which I have been shorting off with a rejection count of 6 and 1 deviation on the daily time frame. Green support:Stemming from the candle body of this recent upward trend (July 13th), we have witnessed 5 intersections between price and this momentum line with no daily candle openings occurring beneath it. Red support: Starting from the candle wicks on July 13th and using the second wick on the 26th of July, this line has been considered as the last line of defense for the bulls. Other than the two points of contact previously referenced the price has so far stayed clear from this momentum line.  For those that have been scalp trading, it has been a profitable week. The yellow zone has been a reliable point to scale in on longs and set your TP at the resistance…However, the days of this scalping technique are numbered as the lower red momentum line encroaches into the yellow accumulation zone. Just sharing what I am seeing  Draw your own conclusions Banter 0n, Banter Strong!✌️4y

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$BTC potential short trade setup 05/08/2022 (technical difficulties…)

Trade is no longer possible but updating for the educational value. On ByBit's platform, by default you are permitted to hedge your trades and maintain long & short positions on the same trading pair.The shorting opportunity that I am seeing is that the price seems to be obeying the resistance of the perceived downward sloping (orange) trend line, originating from the peak in April. As seen in the last picture the projected intersection of the daily candle and the trend line is located at $23,445. My short entries: 1. $23,445 (orange trend line intersection)2. $23,655 (previous high)3. $24,182 (previous high)4. $24,481.5 (white trend line intersection) Invalidation (stop loss): $24,500 Update 1. (9:00 UTC -4) I am unable to access ByBit at the moment via the desktop, but can still via the phone. While writing this post, the first short order was filled and I managed to put a SL at $23,000. Update 2. (9:20 UTC -4) Cleared my cache and fired up my VPN: able to connect again… As you can see we were rejected almost exactly off the trend line, I will now cancel my outstanding short orders and resume to reevaluate options as the price waxes and wanes. Will update you on new opportunities when I perceive them. The green horizontal lines are buy orders that I have maintained since Monday in case of a pull back to the daily trend line, shifting and realigning with the intersection with each day's candle, putting the largest buy order on the wick/red trend line and the stop loss just after the red trend line. This strategy played out perfectly yesterday. However, I did not carry it all the way back up to $23,000 and aggressively advanced my SL, allowing myself to get stopped out in profit expecting a return to my buy zone… The technique that I use when laddering in my orders is to have each subsequent order be double the preceding, this ensures that the entry is scaled back significantly, and if you are stopped out; your losses are minimal. DYOR/Charting Just sharing what I am seeing/doing, Banter on, Banter Strong!✌️4y

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You down with $BTC?…yeah you know me

Gm Banterfam :) Back again with the weekly BTC update! During one of the previous week's episodes Mama $niper passed the comment that she likes to start everyday with a clean chart and make new analyses unbiased by previous conceptions of price action/direction. My experience charting is not as extensive as hers but I have noticed that the price likes to respect these "ghost trendlines" and my call in last Monday's post was a clear example of this scenario playing out as the price touched and bounced off EXACTLY the trend line that was first drawn back in May. I am currently in a long position opened at $22680 as when I got in front of the computer this morning basically all the smaller time frame Stochastic RSIs were reset.I drew two trend lines off of the daily closes (green dotted) and the daily wicks (red dotted) and have determined that the lowest that the bulls would permit the price to get today would be $21924 and have staggered my last orders around before and just after the green dotted trendline with my stop set to just after the dotted red trend line. As I write this the Stochastic RSI has peaked and begun its descent, the trade is more than 85% in profit, I have advanced my stop loss to below the previous candle's low and my plan is to close the trade before the funding rate timer expires. I am currently in a short position until the hourly & 15 min RSIs reset with advancing Stop losses ideally until we revisit the daily trend line region. And because the funding rate is in my favour I do not have the same expiration pressure to take profits. DYOR  Just sharing what I am doing… Banter on, Banter Strong! ✌️4y

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Off the charts…

If this CB competition is going to be an exact replica of the WSOT competition. In that your performance is also tracked and tiered within an individual's performance on select subcategories of coins. I believe that a possible evolution of the approach executed on the last tournament would be to break the Sniper Squad into specialised battalions that will trade one specific subcategory of cryptocurrencies. Sniper's NFTs could potentially be something that designates your specialty and rank, granting you access to closed Telegram/BBS CHARTS subgroups and recognise commendable performance/achievements in a given battalion / share in the successes of category specific victories.I believe this diversity and incentive structure will benefit the Squad's performance on the whole as we are not all in unison aiming at potentially contrary trade setups.  Just my 2 cents Banter on, Banter strong!✌️4y

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Ominous Support Resistance flip leading up to this week's FOMC meeting 😳

Bitcoin went from threatening a reclaim of the $30k region early last week, to retracing  to the $23k and environs on the weekend, and as I am writing this the price is struggling to remain buoyant above the $22k watermark. Glancing back in the archives to my BTC post last week I had highlighted a projected collision target with the upper trend line, and this week, it has been repositioned to the lower trend line.What wizardry could be responsible for this Bull – Bear transfiguration? Simple Technical Analysis combined with a reading of market sentiment  • Technical indicators: Aside from the colour differences that tract the progression of time the second standout transition is the loss of the 50 MA support that catapulted my and others' bullish expectations.On the weekend the bullish sentiment was cradled  again by the 50 MA, but last night: .                                                                               .the bough broke,.                                                                             .the cradle did fall, .                                                                         .and down came $BTC,.                                                                              .alt-coins and all.This article was inspired by the observation of the loss of the crucial support on the 15 min and the clear suppression that it was now apparently providing. • Wider market sentiment:The expectation drawing up to the FOMC meeting is that the Fed is going to increase interest rates further, the $DXY is currently pulling back to support and the Fed needs to reinvigorate faith in the strength of the dollar (show that they are in control) by straddling it with tighter reigns/interest rates to pull back the dollar from racing off the precipice. Just sharing my views  DYOR [always] Banter On, Banter Strong!✌️4y

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My bear market shorting strategy…

This serves as follow up post to one made this morning ("$ATOM…Time to short?").I have been experimenting for about a month or so with a Fibonacci retracement tool shorting /scalping technique using maximum lvg. and an advancing stop loss. Anyone that has used the fib. retracement tool may have observed that it is an 'exploratory guideline for levels that may act as potential support' following moments of Euphoria in the markets (when price pumps for no immediately discernible reason as persons take profits). • Identify an irrational pump, await a peak/retrace from a high to occur • Draw a Fib retracement  • Calculate your risks, select an invalidation zone, scatter your (short) limit orders (based on historical data) • Draw a trend line on your preferred time frame (my preference is the 15 minute) • For all orders, set your take profit to the return to the trend line and your stop loss at your invalidation zone before placing the orders• I get better results using cross as you are able to use additional capital to keep the liquidation price well away (however, it does not mean that you can trade commando [without SLs]) • As the price retraces advance your SL I like to calculate the profits before hand and mark it on the chart with associated fibonacci levels for ease of reference when advancing the stoploss (gives you something to do while you wait for the price to descend; easily achieved using ByBit's TP/SL tool on an open position) My day: $ATOM seemed to constantly find support at the 0.236 (first fib level), which was good as the day progressed as the distance between your entry and the 0.236 increases as the price pushes higher. Just sharing what I am doing Banter On, Banter Strong!✌️4y

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$ATOM … time to short?

Heatwave surging through Europe: markets them are red?Most are but there seems to be an oasis of pristine greenery amongst the flames $ATOM I'm no cosmonaut, but I know that many of the TERRA suite of developers migrated to polygon & cosmos.We have seen what MATIC has done recently with the help of Disney's and other cooperate endorsements.I did not hear of any rumours of major announcements in the pipeline for $ATOM and thus have deemed this pump to be irrational. I plan to be laddering into a short position with my invalidation point being just above the $12 liquidity zone I am expecting a retrace to the 15 min trend line, if not an entire collapse to the macro momentum line. Just sharing what I'm doing  DYOR Banter On, Banter Strong!✌️4y

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ETH… brace yourself 🤨

Ethereum lead the pack this time around, but is there gas still in the rocket or should we look to position our fingers squarely over the ejection button? The bullish scenario sees us again darting up towards the next liquidity zone between ~$1900 to ~$2000.  History doesn't repeat but rhymes, the dilemma with being guided by historical data is determining the rhyming couplets…I am treading cautiously with Ether, as all the stochastics seem to indicate a pull back yet the fundamentals call for a sustained climb.Just as rocket fuel is made up of liquified natural gas and liquified oxygen.Successful trades are guided by the mixture of technicals and fundamentals.My ejection seat has been deployed…Just sharing what I am doing. DYOR Banter on, Banter Strong!✌️4y

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Log on?

One of the first things I learned on my personal journey of acquiring the skills of technical analysis was the distinction between the logarithmic scale and the linear scale.The often recited rule of thumb for when charting on the logarithmic is that it is prescribed for detecting patterns and drawing inferences on higher time frames. Why this tends to aid the technical analyst is clear when one appreciates the manipulation to the price index that toggling "Log" initiates.According to Investopedia.com: Logarithmic price scales cause "commonly recurring percentage changes to be represented by an equal spacing between the numbers in the scale. For example, the distance between $10 & $20 is equal to the distance between $20 & $40 because both scenarios represent a 100% increase in price." It became immediately understandable why the recommendation of Log was suited for any charting done on higher time scales (personally interpreted as anything over a week). For it tends to lessen the distorting effects of outliers  (euphoria & blackswan events). As a recent example I would like to single out the call made on the weekend on an impending break of trend on $ADA, which using the Log chart you would have caught at ~44¢ as opposed to the ~47¢ break of trend which occurred on the linear. The exact charts with Log on and without See any differences?4y

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Critical milestones for $BTC…possible shorting opportunities ☠️

As you may have seen from the screen shots this post was planned whilst $BTC was above $24,000.At the time of writing the price is bouncing between $23,500 & $23,600.P.S. The chart is ByBit's BTC/USDT perpetual and on the daily timeframe (logarithmic). Just sharing what I'm seeing. Banter On, Banter Strong!✌️4y

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