Bitcoin

[Woodson]

Wow, look at that. Bitcoin. Who would have thought it.

If you haven’t bought bitcoin yet, there’s a lot of liquidity that hasn’t been swept from Novembers run up.

The market maker left a lot of money behind to get that move.

There’s a premium price and a discount price and currently it’s at a premium.

Not financial advice just no need to fomo.

Also if you are thinking of “trading” bitcoin here’s a free lesson.

Download Tradingview, it’s free. On indicators search and select “swing failure pattern” also search “MTF levels”

LuxAlgo is a good one the PSec one has alerts so you can create an alert and it will just email you or make a sound when an SFP happens so you can go enjoy your day.

How to use
go to the 5minute or 10min chart. You can watch on the 2 minute to anticipate a swing failure pattern but wait for confirmation on the 5 or 10 so you don’t get a fake out. Never use 1 minute charts for BTC as a new trader.



When the red “SFP” appears above the candle and aligns with a level of resistance shown via the MTF levels indicator, make the trade. It is a bearish SFP at resistance (red and at top) or bullish SFP at green at bottom support.

Never short the bottom of a range or long the top!!!


Take profits on any sign of retrace until you understand market structure (YouTube)

In tradingview you can paper trade for free to practice! Search long position or short position how to YouTube.

Never work a day job again. And paper trading is actually fun. Learn a skill and stop playing Monopoly Go.

If anyone is interested in more information (free) happy to answer trading questions. I’ve been trading for years now and that’s all I do now.

As an old friend here used to say, see you on the corner of Victory Lane and Winners Circle.

God bless you.

 

[Woodson]

Here’s today’s trade using the SFP strategy. There is no reason to buy a course or to pay for anything. It’s all grifters online. They can’t trade so they sell courses.

SFP on the 10 minute - $4k move and they happen every day size depends on volatility.

 

[MadJack]

There’s a premium price and a discount price and currently it’s at a premium.

Where do you think it's heading short term (next few months)? Are you in the camp of it revisiting the $70's again before ATH this year?

I'll leave the trading to you young guys. That's a sure fire way for me to get my ass kicked in. I just keep adding monthly no matter what the price is.

Are you trading the alts as well?

 

[Woodson]

hey Jack. The top isn’t in. I’m super bullish. However, Yeah, I think “traders” get the shake out on some type of news event in February or first of March where leveraged longs will be targeted. if you’re holding spot, no worries, it’s the degens that use a lot of leverage with stop losses below support for a nasty wick and “v-shaped” recovery.

 

[MadJack]

hey Jack. The top isn’t in. I’m super bullish. However, Yeah, I think “traders” get the shake out on some type of news event in February or first of March where leveraged longs will be targeted. if you’re holding spot, no worries, it’s the degens that use a lot of leverage with stop losses below support for a nasty wick and “v-shaped” recovery.

I just hold my BTC and DCA but plan to take around 50% - 75% out this year, hopefully around the cycle high for my last withdrawal. My plan is to start gradually averaging out around the $130k - $150K level. How's that plan sound? Am I thinking right?

My Cardano I plan to take out damn near everything at $5. I have no plan for my ETH and XRP.

My holdings....
78% BTC
18% ADA
2% ETH
2% XRP

 

[Woodson]

That’s a great plan and strong portfolio!

 

[BADTODABONE]

Woodson,
If you ever make it to The Keys look me up. I'm still here!
BTC ETH ADA and a long shot GRT

 

[Woodson]

Hey man! I am glad to see you in good spirits and doing well! I would love to get down there some time in May or June! Will definitely hit you up! Thanks for saying hello!

 

[Woodson]

Had a SFP on the 10m today that came up a little but well within a stop loss. Another $2k move using this strategy.

 

[Woodson]

Got in this one and going to set the stop loss at break even + trading fees. No chance of a loss and potentially nice payout while I sleep. Will check back in tomorrow morning. Edit - stopped out even. On to the next trade manana.

 

[BobbyBlueChip]

Welcome back Woodson!

 

[Woodson]

BBC! Thanks man! God bless!

 

[Woodson]

Largest liquidation of leverage Bitcoin traders since Covid announcement. I don’t think it’s quite done yet. A little spring cleaning by the market makers (US, London, Asia) before Bitcoin can go higher. Interestingly BTC is still in the range it’s been in the last 83 days. It’s just at the value area low in the discounted region versus premium value area high as discussed previously.

Unfortunately alt coins get absolutely destroyed by BTC mark ups and draw downs at this dominance level.

I didn’t see any SFP todays of interest as I wasn’t inclined to try and long any thing other than a few scalps. Catching knives as its called is a sure way to get rekt and lose.

 

[Woodson]

Trading is a lot like fishing... certain times of day and night the catch is better. London market close always provides a nice SFP. Below is a quick scalp Measured move is about $800. If you notice the red line I added, it marks the tweezer wick on the red candle previous to the SFP. When the last (on the right) green candle comes up a bit short of that wick, it is a sign buyers don't want to continue price mark up. The goal on a scalp is to get in and get out with as much of the MM's money as possible as market structure could send this to previous lows with it still remaining bullish. Coffee brewing and you're up $800 1:1. Time to get ready for NY Open.

 

[Woodson]

Say you completed the Fibonacci Retracement tool for Trading View Youtube video and you want to see it in action. Woodson's full of baloney, fibs my as$... Well, you don't have too look to far left on the chart to see it in action. On the move down to $91.2k instead of catching knives and getting rekt. You can make a measured move idea and wait for it to happen. Using the fib tool from the bottom of the wick of that 91.2 candle, pull it holding down the mouse button to the top of the wick on the red candle, and you now have a keen idea where price is heading. Look at how perfect it bounced on the .618!


Also, notice how our SFP scalp played out with price coming all the way back down. The Fib Retracement tool, SFP indicator and a little practice, and well, trading becomes a lot easier to manage.

 

[Woodson]

When you combine the Fib tool and SFP indicator you can begin to anticipate moves as shown below on the 1min. Again, it's more for an intermediate trader but it is pretty simple to follow: Long SFP with bullish support, waited until I saw a bullish red candle (long wick) followed by a bullish engulfing candle (takes the entirety of the previous bearish candle to enter) Multiple confluences just add to the trade idea. And then youre off to the races

 

[Woodson]

You don't need a lot of bells and whistles to clutter the chart. Just a proven strategy with a "good" risk-reward ratio. Something all you guys know from bankroll management at MadJack's Sport. Best damn sports forum on the internet. If I can do this, I know you smart fellas can do it. $3k measured move in 2 hrs.

 

[MadJack]

More power to you if you can pluck off these crazy swings. What a wild ride last 24 hours!

 

[Woodson]

Fish on... SFPs 5min Time frame alert to the mobile, put down the turkey sandwich, enter the trade. Stop loss moved to 101,200 for guaranteed profits. EDIT - got a little greedy on the stop loss position and the MM came back and settled the trade 🤝. Still nice gains, nobody ever went broke taking profits.

 

[Woodson]

MJ - Without a doubt! its been a crazy day of short squeezes!