The standard stop-loss level for an Ideal Butterfly harmonic pattern is the 1.414 extension of the XA leg. In this case, 2004.51. This would be very close to my stop in a Forex or securities market.
However, due to the inherent volatility of cryptocurrency markets and their widely varying prices across exchanges I use a wider stop when trading bitcoin (or any other crypto). Personally, I create a basket of various BTCUSD markets to get a feel for the current price-range and go from there. More art than science, I'm afraid. :-)
עסקה סגורה: הגיע לסטופ:
Onward and upward
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
The standard stop-loss level for an Ideal Butterfly harmonic pattern is the 1.414 extension of the XA leg. In this case, 2004.51. This would be very close to my stop in a Forex or securities market.
However, due to the inherent volatility of cryptocurrency markets and their widely varying prices across exchanges I use a wider stop when trading bitcoin (or any other crypto). Personally, I create a basket of various BTCUSD markets to get a feel for the current price-range and go from there. More art than science, I'm afraid. :-)