Arzalon

Short setup

Short
Arzalon Updated   
COINBASE:BTCUSD   Bitcoin
Trade:
entry 7250-7350
sl 7575 or retest at 200EMA after S/R flip on the 4 hour
tp 7075, 6900, 6600

Legend:
Yellow line - 55EMA
Brown line - 200EMA

Do your own research, sharing this just for fun
Comment:
Forgot to add VPVR

Trade active:
looks bad, if we print a 4h candle close above 55EMA, I'm going to get out at the lowest price i can manage
Trade active:
retesting, if support holds I'm out
Trade closed: stop reached:
S/R flip confirmed, volume increased at retest and price went up. Could go long with tight stop, but want to get some distraction and going flat into the weekend:)
Trade active:
I looked for conformation on a time frame which was way to low... I don't like juggling around with positions. But realized I made a mistake and reactivated the trade
Comment:
Volume on the 4h candle was way too weak, to confirm the support and it broke
Comment:
Looks like it is acting as resistance (for now)
Trade active:
Trade closed: stop reached:
Broke out and is now at support around 7600. Conclusion, breakout could reach 8xxx
Trade active:
Break out done. Not selling by btc yet, but took small short pos at 8300
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.