Good morning beautiful people! I'm expecting a major move talking place today. Leaning towards a short for CME gaps we spoke about earlier. Potentially down to $18,600 or further down towards $17,800.

Game plan:

SHORT BTC
Range: $19,200 - $19,400
Targets: $18,600 / $17,800 / $17,600
Stoploss: $19,570
Leverage: 5x to 10x

Short coins with high negative funding and large deviation from EMAs 50/100/200.

Set low float orders above major EMAs on large cap altcoins to catch wicks.

Time away from the market yesterday was great. Always wait for the good moves. Don't jump in for the sake of it.

Good afternoon guys. The gold market is often considered as a safe currency in times of uncertainty. With the covid-19 situation we saw a massive rally in the prices of gold and other precious metals. People climbing on to stability showed a weakening dollar and a very strong gold. In the last few weeks, numerous companies claim high efficiency for the covid-19 vaccine. This could potentially mean the world economy is ready to open for business and people are open to taking higher risk for higher rewards. Usually some of the strongest stocks of companies during a crisis are utilities. With the world adapting to this new normal people are pulling out money from gold and investing it into rescue ventures like the stock market in cryptocurrencies. The gold market could see bottom in the coming weeks and would be a fabulous long term purchase.

People think the economy and stock market should move in the same direction. While we saw massive unemployment numbers, the stock market continued its upward rally. Remember this, the stock market it is forward thinking and instantly we observed through April was people betting on the future. right now people seem to be extremely bearish for the upcoming financial year. I strongly suggest you do not live on to a particular bias. Be flexible in your approach. You might see me go bullish from bearish almost every three days in the market but this is completely different from the long-term outlook I keep on the market. In the short term I am expecting bitcoin to retrace towards the $18000 levels but my long term targets remain above $21,000.

Got a couple DMs asking about my altcoin orders. Here's the list of orders which I'll move to my cold storage once filled. I'm gonna hold on to these unless I see a major moving coming in from bitcoin. Usually December brings the Santa rally. But you always gotta be on your toes when playing with cryptocurrencies. :)

Just saw the strongest weekly candle ever. Oof full sauce in crypto markets. I'm still expecting a pullback for our short. The stoploss is a must. This is a better RR if you enter now.

Another important reminder. You don't need to win every trade to be profitable. Even if you lose 75% of your trades but each trade has a 4:1 RR, you are good. Always skew the risk reward in your favour. And maximise the win ratio over time.

$SUSHIUSDT 60 min

Probably the best DEFI coin to scalp. The hourly PXI completely nailed it with 42.37% profit merely from the spot trades. We did have a chop zone in between. Even considering that, we are well over 40%.
Certainly not bad eh?

https://www.tradingview.com/x/gX5GEzqO/

:)

Midnight thoughts:

Yep trading does affect your sleep cycle adversely. But looking at today's trades I've made, I really wondered why people burn their accounts down to pennies.

Leverage - super useful when used well and an absolute disaster when used on tilt.

I've always suggested to not invest or do things you do not understand. This has helped me greatly and I assume would help you too. The easy access to leverage upto 125x at the flick of a slider has its pro and cons.
When used to the right extent and managing risk well, it can far outperform your spot account. A mere 3x leverage gives you a much higher buying power but the risk is also higher. That's where stoplosses come into play. Never enter a leverage trade without a plan. Targets, entry, stoploss. Everything should be predetermined.

Binance offers you the option to have it all set before the order hits the books. Make use of this. Play your cards right and you will get better each day. Remember, the spot market is the actual driving force. It is equally important and you should manage your spot account well. All I'm suggesting is leverage is a handy tool for day/short term trading. Spot is fabulous for mid term and long term trades.

Psychology solidified the fact that pain of losing a certain amount is twice as the joy of making/winning the same amount. So from an emotional point of view, any RR below 2 is bad. Now you make the wise choice before sliding the leverage to max.

Goodnight. May Allah bless us with prosperity.
Amen. ❣️

Morning beautiful people!
Last night I closed the short around $18,920 and picked up a few altcoins to scalp through the day. I'm expecting bitcoin to range in this zone for a while before testing the $20,000 levels again. The probability of a downside move isn't completely eliminated, it's less probable at this point of time.

Picking up a little exposure here on the longs side after closing the shorts. I'm still waiting for a pullback on spot for the entries on our holdfolio.
Some of these are under my entry price and can be scooped up now for a better Risk Reward.

Stopped.
Onward and upward 💪🏻

Our initial setup was spot on. Sorry guys, gotta trust myself a little more and give these moves more time.

​​The most greedy month ever. Crypto Fear & Greed Index shows that during last 30 days the average index value was above 90 and month to date the index is above 93. Crypto Fear & Greed Index shows the current sentiment of the Bitcoin market and crunch the numbers into a simple meter from 0 to 100. Zero means "Extreme Fear", while 100 means "Extreme Greed".

Source: ICOAnalytics

Yep, I'm kicking myself for closing this badass trade too early.

The Binance dual savings plan is fantastic if someone wishes to lock up a portion of their funds.
I personally cannot lock up my funds in this because it's riba (interest) which is haram. But my non-muslim buddies, I say the USDT plan is fabulous. Have a look.

$BTCUSDT 4h Candlestick

Following yesterday's shakeout, we can expect a complex breakdown in bitcoin. Closely bounced of the 200 ema and currently sitting tightly under the 100 ema. I'm expecting this form factor of a move.

https://www.tradingview.com/x/ipRBel6q/

$BTCUSDT 4h Heikin Ashi

For the curious ones, HP leverage is short on 4h

https://www.tradingview.com/x/tY5Pe5Tj/

$YFIUSDT 4h HOLD

Yearn has been on my hold list from the previous update. DEFI projects are currently in an accumulation phase. YFI is one of the strongest project is also taking in smaller projects into its covers. I'm bullish on this for the long term. I have a gut feeling this project might undergo a massive growth period and could also lead to a token split.

If you have PXI, I suggest you to scalp YFI in the 30/60 MIN time frames. It is pretty volatile and provides solid returns if you manage your risk well. For the rest of you, start filling DEFI bags on every dip.

https://www.tradingview.com/x/f9r1L0hs/