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Trade Racks Up Gains as Bitcoin Steams Toward 22104

By: Rick Ackerman, Rick's Picks

 -- Published: Monday, 18 December 2017 | Print  | Disqus 

After shedding two round lots (from an original four) at 18062, the tracking position initiated a week ago with an explicit instruction to get long at exactly 16042 has produced a theoretical gain of $10,292. The underlying vehicle, listed under the symbol BRTI, is a CME product that aggregates order-book bids and offers from major exchanges. If we are able to close out the remainder of the position at 22104, my original rally target, the total profit would be $16,164. Instead, just to play it more conservatively, I’ll recommend exiting a third round lot at 20616, the Hidden Pivot target shown (or its equivalent using an exchange-traded product, such as at Coinbase.com, that correlates closely with BRTI), The target is of smaller degree than 22104, and I expect a stall there or perhaps worse. If the order gets filled, the tracking position will still hold a single round lot for a potential ride to 22104.  Incidentally, this is the third bitcoin trade offered by Rick’s Picks and shared with followers of FXStreet.com.  The first produced a theoretical gain of about $2100; the second, a loss of about $400. If you don’t subscribe but want to join in the fun, click here for a two-week free trial to Rick’s Picks, including access to a 24/7 chat room that draws great traders from around the world.

 


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 -- Published: Monday, 18 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

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