Opportunity Insight:
There seems to be a promising entry point at the $41,169 level for BTC/USD. Despite testing this level, Bitcoin has not shown an aggressive reaction, suggesting a likelihood of retracement to this area, potentially forming a double top pattern. Such a pattern could attract buyers, creating an advantageous entry opportunity.
Entry and Exit Strategy:
Entry: The entry line itself is not a direct trigger. Instead, the trigger should be a false breakout below the entry line followed by an aggressive close back above it. Monitor for a false breakout on a lower time frame, such as 30 minutes or 1 hour.
Stop Loss (SL): After witnessing an aggressive close, set a stop loss. Instead of a fixed SL, place alarms at the SL level. If any 4-hour candle closes below this line, proceed to cut the trade to limit losses.
Position Sizing: Be logical with the size of your position. Given the higher profit targets, it's sensible to opt for a smaller size to manage risk effectively.
Take Profit (TP): Partially take profits at each designated line. Avoid the trap of letting a floating profit turn into a floating loss, ending with a forced exit from the trade.
A Note to Beginners:
While I am not a signal service provider, I am sharing my trading insights. For those looking to make purchases based on market signals, it is advisable to seek out experts with a substantial following and a proven track record, rather than relying on signal sellers in premium channels. True sustainability in trading comes from investing your time to learn and understand the market dynamics, not from purchasing signals. If you've experienced losses from following signal services in the past, this approach should resonate with you. Learn and apply knowledge for long-term success.
Good luck with your trades!
Remember, while sharing knowledge is valuable, each trader should perform their due diligence and make decisions based on their own research and risk tolerance.
There seems to be a promising entry point at the $41,169 level for BTC/USD. Despite testing this level, Bitcoin has not shown an aggressive reaction, suggesting a likelihood of retracement to this area, potentially forming a double top pattern. Such a pattern could attract buyers, creating an advantageous entry opportunity.
Entry and Exit Strategy:
Entry: The entry line itself is not a direct trigger. Instead, the trigger should be a false breakout below the entry line followed by an aggressive close back above it. Monitor for a false breakout on a lower time frame, such as 30 minutes or 1 hour.
Stop Loss (SL): After witnessing an aggressive close, set a stop loss. Instead of a fixed SL, place alarms at the SL level. If any 4-hour candle closes below this line, proceed to cut the trade to limit losses.
Position Sizing: Be logical with the size of your position. Given the higher profit targets, it's sensible to opt for a smaller size to manage risk effectively.
Take Profit (TP): Partially take profits at each designated line. Avoid the trap of letting a floating profit turn into a floating loss, ending with a forced exit from the trade.
A Note to Beginners:
While I am not a signal service provider, I am sharing my trading insights. For those looking to make purchases based on market signals, it is advisable to seek out experts with a substantial following and a proven track record, rather than relying on signal sellers in premium channels. True sustainability in trading comes from investing your time to learn and understand the market dynamics, not from purchasing signals. If you've experienced losses from following signal services in the past, this approach should resonate with you. Learn and apply knowledge for long-term success.
Good luck with your trades!
Remember, while sharing knowledge is valuable, each trader should perform their due diligence and make decisions based on their own research and risk tolerance.
Comment:
Two TP reached, TP partiallz and aiom to the higher lines.
Comment:
Final target reached. Congrats to your profits.
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