The simple 6hr SMA strategy for BTC has had us holding a slow short for several weeks. During the last week the price action came back in contact with the 6hr SMA, which pushed this trade to close locking in nearly 7% growth.
As it typically happens, the price action chopped around the 6hr SMA for a couple days, causing a few rapid trades and small realized losses.
With the moving average having a strong negative slope currently, it is lower risk to enter the short positions than the longs. Be prepared for more chop near the moving average and continue to enter the longs/shorts as the next impulse move is getting close and this strategy is guaranteed to catch that big move.
The simple 6hr SMA strategy for BTC has had us holding a slow short for several weeks. During the last week the price action came back in contact with the 6hr SMA, which pushed this trade to close locking in nearly 7% growth.
As it typically happens, the price action chopped around the 6hr SMA for a couple days, causing a few rapid trades and small realized losses.
With the moving average having a strong negative slope currently, it is lower risk to enter the short positions than the longs. Be prepared for more chop near the moving average and continue to enter the longs/shorts as the next impulse move is getting close and this strategy is guaranteed to catch that big move.
More details on this strategy can be found in this previous post: 6hr 200SMA Macro Strategy