[Swing Trade] BITUSD short from HTF resistance

Hello fellow traders,

This chart should be pretty self-explanatory. At and above entry we have a cluster of HTF resistances. I would argue that this is a relatively low-risk trade because of the confluences at that level. Take a profit when the trade has been completed for 50% and move your stop-loss to entry.

Good luck and happy trading!

Kind regards,
n1d0

Comment:

For less risk, but lower reward this is a good idea:

Above the stop-loss, we have 2 daily levels. You could open 50% of your position on the entry provided in the original idea ($0.786), and open the rest at the 2 daily levels ($0.834). Stop-loss percentage stay the same.

Less risk, but potentially 50% less reward.

Comment:

Almost there.

Trade active:

This trade is now active

Trade active:

Trade is going well, too bad we are in a weekend.

We are at the first support, taking a small profit might be a good idea.

Moving the Stop-Loss to entry might also be a good idea.

Good luck!

Trade closed manually:

Well, that's it for me. Closed at break-even.
On to a better trade!

Trade closed manually:

It seems like it's another episode of "Stick to the Plan"...

Comment:

Stick to the plan next time, have some confidence...

Comment:

My first idea posted on TradingView was fantastic, ironically I chickened out of the trade. Check the original idea and comments.