Counter-trend SFP BTCUSD | Testing Technique

Bitcoin / US DollarBittrex

Description

⋅ Sep 4, 2019 6:18 PM

I did not take the trade because I still think the market will rally eventhough this is technically an SFP.

If I am doing this wrong please let me know.

Comments

BabyWhale83

⋅ Oct 2, 2019 3:25 PM

Put your stop loss 1 ATR (24 period, 1 hour chart) above the doji candle and you would have a great trade!

Fanatik_

⋅ Oct 2, 2019 6:25 PM

@BabyWhale83, You're very right! Would have been a nice one if the SL wouldn't have been so tight.

I don't completely understand how you would place the SL. Can you send an example chart?

Here is my attempt.

BabyWhale83

⋅ Oct 3, 2019 8:16 AM

@Fanatik_, You can use this script and play around with the ATR. It will show you the levels on the chart. Easier to use :)
tradingview.com/script/l44cXmHf-ATR-Baby-Whale/