Category:BTC

Buy The Close. Traders will buy the close of bull bar closing near its high or buy above bull bar that closes near its high. For e.g. when there are consecutive bull bars closing near their highs and above EMA, with 2nd body completely above EMA, traders will buy the close and look for MM up, e.g. 20221215. See also STC.

• Exit below a bear bar, or if 2 or 3 consecutive bear bars, especially when BTC-EOD
• If PB in Buy The Close bull trend. Probable TR within 3 bars. Be ready to exit.^[1]

In general, whenever you have a BTC market and then a big reversal, a deep pullback, you are looking to buy above a bull bar. However, you want the (distance between the first entry and) the second entry to be at least two or three times bigger than a minimum scalp. Your goal on the second entry is to make a profit, get out around the first entry, break even on the first entry, and with a profit on the second. And in general, you want the (distance between the first entry and the) second entry to be at least two or three times the size of a minimum scalp. For example, in the E-mini, if the minimum scalp is one point, if you are going to be buying above a bull bar, adding to your position, you want the second entry to be about three points below the first entry^[2].