TheForexSamurai
Short

They are all buying, while I am gonna short - INTRADAY setup!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As market is consolidating as of the moment. A potential bearish bat pattern soon to be completed for a short/sell opportunity here.

Bat Pattern:

XApt - First market swing/leg
ABpt - 38.20% < 61.80% XA leg
BCpt - 38.20% < A point AB leg
Dpt completion - 88.60% XA leg - ENTRY

SL level: above/below the pattern's X point as we could determine it as a good support or resistance zone /level.
TP level: TP 1 on 38.20% AD leg, TP 2 on 61.80% AD leg and for TCT (trend continuation expect a formation of new highs/lows so on the recent lowest/highest price swing of the market structure (pattern).

Disclaimer: Caveat, trade at your own risk. Trades are subject to be at risk and money manage with different objective as yours. I will not be held responsible for any losses that occur in your account. You and you alone are responsible for deciding if you are comfortable accepting the risk involved in trading the Financial Market.
Comment: Will it give us a divergence?

Comments

how sure are you? Percentage wise lol
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TheForexSamurai TheFinancialOprah
@TheFinancialOprah, trading the financial markets in general has no assurance or has no guarantee. read my disclaimer as always. Plan your trade, trade your plan and do risk manage. A percentage out of your equity wont hurt you on a losing trade.
Reply
TheFinancialOprah TheForexSamurai
@TheForexSamurai, thats a good idea. Thank you
Reply
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