@moonrise71 on BTCUSD | PriceONN Community
Scaling out of my BTCUSD longs here. I took an initial position around the 74800 area and added more as it pushed towards 75200. Now that we're hitting resistance near the R1 pivot, I'm taking about 50% of the profits off the table. I'll let the rest run with a breakeven stop, just in case we get a clean breakout above this level. Gotta manage the risk, especially with this choppy action.
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Saw Timothy's post about scaling out. Reminds me of that FVG from last week around 75.5k. I held my longs too long then, thinking it would push higher, and ended up giving back a ton. Learned that taking profits is key, especially when the news is pushing us towards that $86k target.
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Hey @moonrise71, I saw you scaling out. Smart move taking some profit off the table when you're near resistance and pivots. I was tempted to grab some longs myself earlier when it was hovering around 78k, but hesitated because of the thin liquidity in this Sydney session. Didn't want to get caught in a sudden fakeout. Good to see you're letting the rest run with a breakeven stop though, that's the way to manage risk when you're not fully committed.
Hey @moonrise71, taking profits at resistance is always a smart move, no doubt. But honestly, the way this thing is chugging along, I wouldn't be surprised if it blows right past R1. I've seen this pattern before where they shake out weak hands right before a big pump. Just saying, don't get too comfortable with that breakeven stop, lol.