Looking to short BTC for a continuation of the downtrend.
Trend is your friend is what they say.
So we're basically going to wait for a pullback to 113k range then enter a sell.
The sell entry caters for both H4 & Daily timeframe trend, so it's a strong one.
The sell entry range also has the VAL of the last rotation we had from Sept 21st to Sept 24th when we finally broke down from it at 112k. That VAL should be a strong point for rejection, it'll be one of the places where we'll truly get to test the strength of the bears ( that's if we even make it that far )
TP targets are based on ExoFade peaks of the H1, H4 and Daily timeframe.. You can add the ExoFade to your charts to follow on your own charts as well.
VAL - Value Area Low of the volume profile
Strategy => Volume + Trend + Lots of coffee
Trend is your friend is what they say.
So we're basically going to wait for a pullback to 113k range then enter a sell.
The sell entry caters for both H4 & Daily timeframe trend, so it's a strong one.
The sell entry range also has the VAL of the last rotation we had from Sept 21st to Sept 24th when we finally broke down from it at 112k. That VAL should be a strong point for rejection, it'll be one of the places where we'll truly get to test the strength of the bears ( that's if we even make it that far )
TP targets are based on ExoFade peaks of the H1, H4 and Daily timeframe.. You can add the ExoFade to your charts to follow on your own charts as well.
VAL - Value Area Low of the volume profile
Strategy => Volume + Trend + Lots of coffee
Trade active
Sell Orders Filled...BTC futures opened higher so we now have a gap sitting below us now.One last thing i forgot to mention as part of the reason for this trade entry, is that entry is also at the Weekly VWAP. In a trending market, the VWAP is always an important area to monitor. I track Daily / Weekly / Monthly VWAP , and you should too....cos the BANKS do :)
Trade closed: stop reached
We got stopped out on this trade.. Beautiful execution, but BTC choose violence 😂. Bulls did an amazing job of clearing all the key areas. On the higher timeframe, we're still in a range and this uptrend still is not a guarantee of a new ATH so be cautious . We're still heading back down here at some point 1. Because btc opened higher than futures so we now have a gap sitting bellow 111,240 [as you probably know, they tend to get filled]
2. The lows formed in the rotation that lead to the break out Has an Unfinished Auction( poor low ) @ 109306 ..Eventually gets wicked by a stronger auction. You can see the Unfinished Auction using a market profile
One TP a day, Keeps The Bills Away !!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
One TP a day, Keeps The Bills Away !!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.