bizmark

BTC Head & Shoulders

Short
bizmark Pro Updated   
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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₿itcoin broke the yellow uptrendline, backtested it and got rejected. Now it just formed Head and Shoulders🤷 pattern. IF price definitely breaks the Neckline at 18905 I think there is chance for drop to 12680 and even lower, but I expect some pullback up first. Setting 3 SELL LIMIT orders each at different price, but all the positions will have the same STOPLOSS and same TARGET. Obviously each will have different Reward Risk Ratio ( RRR ). Zoom in to see the gray Callouts better.

  • ENTRIES:
    ---------- SELL LIMIT1 @ 19330.00
    ---------- SELL LIMIT2 @ 20790.00
    ---------- SELL LIMIT3 @ 22200.00
  • STOPLOSS (SL): Right Shoulder @ 22781
  • TARGET (TP): H&S target projection @ 12680
  • REWARD RISK RATIO ( RRR ):
    ----------- SELL LIMIT1 - RRR 1.9
    ----------- SELL LIMIT2 - RRR 4.0
    ----------- SELL LIMIT3 - RRR 16.2
  • INVALIDATION: when SL level hit

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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active: SELL LIMIT1 Order filled ✔️
Trade active: SELL LIMIT2 Order filled ✔️

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