jimmyha6

BTCUSDT TD Buy Signal

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
There is what would be described as a perfect "TD Buy Setup" on the 30 minute timeframe for BTCUSDT that can be used to set up a buy order with limited risk. The TD indicator is meant to be a measure of buyer or seller exhaustion after a specific set of rules is applied to 8 or 9 consecutive candles moving in one direction. The start of these TD setups represent support or resistance levels. In this case, the BTCUSDT has failed to close below TDST support at 42390 on the 30 minute timeframe on three separate occasions, while previously taking out the first TDST resistance at 45232. We can set up a buy with a tight stop loss in hopes the support will hold and reverse with targets at previous TDST resistance levels.

Buy stop order: 43227 (just above the rejection candle of the TDST support)
Sell stop loss: 41800, or if 30 minute candle closes below TDST support at 45232
Targets: 46357, 49367, 51196

This is not and should not be taken as financial advice. I will enter this trade with only a small amount of capital to test this idea if the buy stop is met.
Order cancelled: Buy stop not met and price dropped well below support.

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