BTCUSD / TD9 on weekly; waiting for 2h-12h TD9 confirmations
Looking forward in June I believe we will see at least 1-2 weeks (more likely 3 weeks) of red.
I'm looking for another lower TF confirmation to enter short here.
On weekly we have:
- lower HIGH (we did not break previous february 2020 high)
- TD9 confirming over the next 23h
- volume decreasing upward
- OBV going negative on most TFs
Trade setup:
looking for 2h-12h TD9 confirmation over the next 2-6 days to enter a short, below 10k
targets would be fib levels relative to (feb->march dump) ~ (march->may rally)
i think the lowest we would see is 0.5 fib retracement so lower than 5k i dont think is going to happen (i hope it doesnt)
my primary target would be high 6xxx or low 7xxx as bottom
what would invalidate this trade setup?
- making a higher-high (HH) above 10.6k closing on 12h or D plus lower TFs
- breaking above and holding 12h or D on the ATH down-trend-line
- another strong indicator would be closing the currently weekly candle (closing in ~22h) above. if we do that, i wont be looking for a short and will be staying out of any trade.
I'm looking for another lower TF confirmation to enter short here.
On weekly we have:
- lower HIGH (we did not break previous february 2020 high)
- TD9 confirming over the next 23h
- volume decreasing upward
- OBV going negative on most TFs
Trade setup:
looking for 2h-12h TD9 confirmation over the next 2-6 days to enter a short, below 10k
targets would be fib levels relative to (feb->march dump) ~ (march->may rally)
i think the lowest we would see is 0.5 fib retracement so lower than 5k i dont think is going to happen (i hope it doesnt)
my primary target would be high 6xxx or low 7xxx as bottom
what would invalidate this trade setup?
- making a higher-high (HH) above 10.6k closing on 12h or D plus lower TFs
- breaking above and holding 12h or D on the ATH down-trend-line
- another strong indicator would be closing the currently weekly candle (closing in ~22h) above. if we do that, i wont be looking for a short and will be staying out of any trade.
Operación cerrada: objetivo alcanzado:
Well that was easy....
closed out the whole thing between 3% and 5.5%.
I margin trade on 5x leverage only.
didnt get the whole wick down but thats fine with me.
closed out the whole thing between 3% and 5.5%.
I margin trade on 5x leverage only.
didnt get the whole wick down but thats fine with me.
