First Touch Bitcoin Short Trade Initiated!

[investingtips]

Hello guys. In my last post I talked about what a First Touch trade is and I showed the potential for a First Touch trade setup to occur for BTC/USD on the 4-hourly chart. Well, the trade setup has indeed just been confirmed and I have shorted BTC/USD at just above $9,200. I have illustrated my entry, profit target and stop loss levels in the following image:

Let's see how it pans out!

Thank you for reading and comments are most welcome :)

Legal Disclaimer: This is just my analysis and not to be taken as professional financial advice. Do your own research beyond what you read in my blog posts and make your own decisions based on your beliefs about what to invest your money in.

Comments

[ewmism]

This is very interesting, Polny says today is the day things change? We'll see

[investingtips]

First video I have seen of this guy, but I'm very wary of all "Gold forecasters", as they've been saying for years now that Gold and Silver are ready to blow up and they never do, I mean look at Silver, it's been going down or sideways overall for the last 7 years and yet a guy called Mike Maloney (who owns goldsilver.com) has been shilling precious metals (especially silver) every year over them years and still it goes down or sideways. The biggest problem is that precious metals, like everything else that is as old as the hills, WILL blow up one day, and then they will claim "oh, look! I predicted that!", when really they were right after 7+ years of being wrong constantly lol.

Not saying this guy is a scam artist, but my scam-o-meter is going crazy after watching that video for a number of reasons:

• The "epic" music in the video is definitely meant to get you thinking emotionally rather than logically,
• Bringing your family into it and using phrases like your family's "financial lifeboat" is extremely common among scammers using dreamy sounding wordage to make you, again, think with your emotions rather than pure logic (plus the word "lifeboat" activates our survival-response in some form I am sure, I am actually reading a book on loss aversion and how it is crazy influential to human behaviour, the guy seems to be trying to say "your family might be at risk, if you don't follow my advice! and what bigger loss are we trying to avert than the loss of our family's survival?)
• Giving a definitive date (Friday march 9) is crazy to me because I don't believe anyone knows which month markets will turn around, never mind the day, and usually when these people are wrong they either ignore it and make another prediction, or they say something out of the ordinary caused it to not happen on that date (how convenient for them lol).

But anyway... thanks for commenting as usual @ewmism your support is appreciated muchly! It says I wasn't following you maybe it was a bug (thought I would have by now), but I followed ya anyway :)

[ewmism]

Have been following Polny for several years and he has been correct to the day both tops and bottoms 80% of the time. The same can be said of Greg Mannarino Silver in my view is a must in ones portfolio especially now the ratio to gold is around 80:1 , statistically, it hovers around 15:1.

The probability of success increases when fundamentals are taken into account that means world events, both financial and life circumstances.

Make no mistake the world is currently in a spiraling downtrend and the only thing keeping it from imploding is central bank money printing covering bank derivative failures.

How long before it all blows up? That's the million dollar question..

[investingtips]

Fair enough man we will see if Cryptos turn around this coming week, if they do I will be more inclined to keep track of his predictions in the future for sure!