This is an update on the last short Idea I shared
I shared a BTC Short Idea Yesterday from the 30 Minutes timeframe (Kindly check my previous BTC Update to know my overall BIAS.) I updated the short Idea as I saw new Price Action in the market and Initially my profit target was $23300, but I ended up closing at $23747 ("Trade closed manually: I have decided to close the trade @ $23747.
I have a Long setup, if it plays out perfectly, I will share my idea here and why I changed my mind on the short.")
BTC went into a range after the last Rally up and it occurred to me that the market tends to manipulate during ranges and that was the changer for me.
The market manipulated the last high $24269, couldn't close above it and immediately traded back into the range and pushed further down trading into the 50% level of the 1hr FVG ($23424) then the market rallied up to take out the last swing low that sponsored the move into fvg. A takeout of that low signified a change in market structure.
This was why I gave up on short and looked for longs immediately to take out the high at $24441.
I hope this is clear enough.
Feel free to ask questions and drop a contradicting opinion or support my bias or clear things out for me to. WE ARE ALL STUDENTS AND I'M ALSO OPEN TO LEARNING NEW STUFFS FROM YOU GUYS.
I shared a BTC Short Idea Yesterday from the 30 Minutes timeframe (Kindly check my previous BTC Update to know my overall BIAS.) I updated the short Idea as I saw new Price Action in the market and Initially my profit target was $23300, but I ended up closing at $23747 ("Trade closed manually: I have decided to close the trade @ $23747.
I have a Long setup, if it plays out perfectly, I will share my idea here and why I changed my mind on the short.")
BTC went into a range after the last Rally up and it occurred to me that the market tends to manipulate during ranges and that was the changer for me.
The market manipulated the last high $24269, couldn't close above it and immediately traded back into the range and pushed further down trading into the 50% level of the 1hr FVG ($23424) then the market rallied up to take out the last swing low that sponsored the move into fvg. A takeout of that low signified a change in market structure.
This was why I gave up on short and looked for longs immediately to take out the high at $24441.
I hope this is clear enough.
Feel free to ask questions and drop a contradicting opinion or support my bias or clear things out for me to. WE ARE ALL STUDENTS AND I'M ALSO OPEN TO LEARNING NEW STUFFS FROM YOU GUYS.