11/12/2023 BTCUSDT TRADE DIARY
Background : BULL MARKET ON DAILY, only look for long
Morning 10 am, price dropped 3000 points and rapidly move toward the uptrend vegas moving average level, and rapid move tend to be non-sustainable as price reacted quickly by the buying limit orders.
Based on experience this is treated as an overall retracement and long opportunity will be lays between $41000 ~ $41500, and stop lose will be the low of that morning liquidity run. Consider we are in a bull market, a higher RR could be expected.
Morning 10 am, price dropped 3000 points and rapidly move toward the uptrend vegas moving average level, and rapid move tend to be non-sustainable as price reacted quickly by the buying limit orders.
Based on experience this is treated as an overall retracement and long opportunity will be lays between $41000 ~ $41500, and stop lose will be the low of that morning liquidity run. Consider we are in a bull market, a higher RR could be expected.
Comment:
Above mention will be a an lower risk placing, however if price consolidate at the vegas tunnel and double RR will be added.