Classic

Trading 'All Time Highs'

Here at Chart Champions, we will always be the first to discourage you from FOMO, especially when an asset price is at an all-time high (ATH).

That being said, it doesn't mean you cannot trade an asset at an ATH.

A disciplined trader will use the resources they have and work with the charts.

While not a certainty, Fibonacci levels often provide accurate levels ahead in such a trend.

Combined with a detailed Elliot Wave count, you can get a good idea of key levels yet to be reached and even possible retracement levels.

 

NOTE: A good rule of thumb during an ATH - The Trend is Your Friend.

It is best not to blindly short an asset at an ATH, as you would most likely be opposing a strong uptrend.

A scalp short can be plausible, anything beyond requires confirmation and solid risk management.

 

 

Time Stamps

2:48 – PREVIOUS BTC TRADE 

 

 

5:08 – EOS TA

 

 

6:54 – ETH TA

 

 

10:02 – LINK TA

 

 

11:20 – LTC TA

 

 

13:26 – XRP TA

 

 

18:19 – XTZ/BTC

 

 

24:03 – ALL-TIME HIGHS BREAKOUTS

  • The strategy consists of three components:
  • Trailing stop loss
  • Fibonacci targets
  • How to short an ATH

 

25:23 – TRAILING STOP LOSS

  • Daniel’s preferred strategy for ATH moves
  • Time frames can be adjusted (depends on what type of trader you are)
  • Daniel moves his trailing stop loss manually

 

27:12 – APPL EXAMPLE

  • Stop loss should only be moved up when the last HH is broken to make a new HH
  • Daniel uses a conditional market order to get out of the trade in profits. He is manually dragging up the conditional market order with each new HL made.

 

35:10 – FIBONACCI TARGETS + EXAMPLES

  • Fibonacci expansion, extension and negative Fibonacci can be used to offer the most reliable take profits
  • Fibonacci extension levels can be used in confluence with Elliott waves extremely well

 

43:19 – HOW TO SHORT IN AN ATH + EXAMPLE

  • Do not short in an ATH
  • When the price hits a Fibonacci expansion it may give a range that can be day traded
  • Don’t expect anything to go up forever
  • Using a good trailing strategy can let the winners run

 

47:50 – Q&A

  • Scalping shorts in the ATH is ok
  • Sometimes when BTC is in a strong daily uptrend this strategy can be used but it is best used with the ATH
  • Daniel trades stocks based on how their company is doing

 

1:03:12 – SUMMARY

Strategies