BTCUSD, Strong resistance, possible price retracement
Hello everyone, BTCUSD is encountering strong resistance, so its possible that price will see some sort of retracement in a short term. I will start buying “red options” as soon as green candle closes inside or above resistance channel and after first red candle forms. My rules are the same as before:
If you have questions about candle color options or wish to discuss trading strategies in real time, join - candle color options - chat, right here on tradingview.
Rules:
1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
If you have questions about candle color options or wish to discuss trading strategies in real time, join - candle color options - chat, right here on tradingview.
Rules:
1.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
2.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
3.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
Trade active:
First red candle formed, I will now start placing trades that most of the next 10 candles will be red.
First red candle formed, I will now start placing trades that most of the next 10 candles will be red.
Green candle shot through resistance line and closed above it, I will wait for the first red candle and then start placing trades (using color options), that majority of the next 10 candles will be red.