The Coil Strikes Again... In Bitcoin - The Art of Simple Trading

The Trader
A couple of weeks ago I noted and posted about a nice coil pattern setting up in the Bitcoin/USD pair.  I said then that an explosion in 1 direction or another was imminent  (I thought higher, but said it could go either way).

 As this weekly chart shows, the coil didn't lie...  

For those keeping track, that's a 20%+ move...
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The Trader

Posted by: The Trader

Wall Street refugee... former institutional broker [nearly a decade] who "saw the light" so to speak... I'm a futures day trader meaning I'm flat (no position) by day's end. I am neither broker nor investment advisor. Opinions expressed are my own and any ideas shared are strictly for entertainment purposes. If something you see here just happens to make you $, pay it forward by donating a portion of the return to pediatric cancer research. If your question to me is how much should you risk on a given trade or strategy, the answer is almost always [as in 99.99% of the time always] "less."