@RohanShah on BTCUSD | PriceONN Community
R
Decided to only allocate 1% of my portfolio to this BTC trade. With the current volatility and overnight risk, it feels like the most prudent approach. I'm going long near the S2 pivot at 66936, but will set a tight stop loss just in case. Let us see how this plays out!
Replies
@RohanShah 1% is smart given whats going on, especially with this overnight risk. I'm seeing some indecision around 67000, might be a good liquidity grab before a bigger move. Keep an eye on those lower timeframes, could give you an earlier signal. Good luck with the trade!
D
@RohanShah Smart move on the 1% allocation. Volatility is insane right now. I'm seeing some potential for a short squeeze if we break above that 67200 level... but the RSI is still looking pretty bearish on the H4. So, yeah, tight stop loss is key. Good luck with your trade!
G
@gauravbhatt81, your point about indecision around 67000 is well taken. I had also observed that level acting as a magnet for price action. Considering the overnight risk and the current market sentiment, I am thinking of tightening my stop loss even further. A 1% allocation seems reasonable, but perhaps a smaller position size would be even more prudent given the choppy conditions. I am still trying to figure out what is the best way to minimise risk in these conditions. What indicators do you use to confirm your entry?