Super Simple Trade Plan for BTCUSD

So I'm obviously not interested in buying here.

I think there's great possibility for a pullback/retracement/correction whatever term you'd like to use...

With that said, this trade plan is so simple. I'm just waiting for a close below the last candle on the 4hr timeframe. The last time we had a close below the last on the 4hr timeframe was when Bitcoin was around $43k. See chart for more details...

So once we get a close below the last with the current price action, I'll personally be alerted with my alert system but then I'll look for a good time to enter on the sell side. Just because I get the alert, doesn't mean I'm all in just like that.

Most likely this will require a bullish climb back up higher followed by some lack of bullish momentum to then basically sniper entry on the sell side. I prefer this style of trading because it gives me great R2R.

If the trade goes through, once the position reaches profit of a 1000, an automatic stop used by my EA (Expert Advisor) will be moved to break even and I'll apply a trailing stop loss on the 4hr timeframe to maximize my gains - Also implemented with my EA.

Hope this idea wasn't too complicated. If you have questions, feel free to reach out.

That's it - That's all
Trade Safe

~Michael Harding