Setup Reasoning, this trade is aggressive but I'll take these odds. Knowing bitcoin it's going to hit take profit in like 20 minutes and never come back lol
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BTCUSD LONG
-Trendline Break
-W Pattern on break ( double bottom shark )
-Ema's crossing
-Reacted off the buy zone
Entry& Stop Reasoning,
I'm looking for this shark to become a bullish 5-0
My entry is at the .5 fib of the impulse move and my stop is just below the .886 and a large clump of volume
Take Profit Reasoning:
I'm looking to treat this as an ABCD pattern , so my profit is at D. 11,500 should be a good spot. We might so price go further though into the 12's
.
BTCUSD LONG
-Trendline Break
-W Pattern on break ( double bottom shark )
-Ema's crossing
-Reacted off the buy zone
Entry& Stop Reasoning,
I'm looking for this shark to become a bullish 5-0
My entry is at the .5 fib of the impulse move and my stop is just below the .886 and a large clump of volume
Take Profit Reasoning:
I'm looking to treat this as an ABCD pattern , so my profit is at D. 11,500 should be a good spot. We might so price go further though into the 12's
Comment:
1'd like to add that 11,000 might be hard to clear, watch that area too