This is what I plan for buying back into BTC. The entry is a new significant higher high with the long term downtrend as a target. With the current information the trade hypothesis would sure be invalid if the price goes down below the Bart candle. This is why I would set my stop-loss there. But I currently won't enter this trade as it could be triggered out of pure volatility. I will wait until Bitcoin drops lower and my entry is more out of reach for usual volatility.
Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.
Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.
Comment:
Please press thumbs up if you like the idea and if you have comments please don't hesitate to write them down. I'm looking forward to other thoughts!
Comment:
To be completely honest, I'm sometimes surprised by the precision of my own TA.
The downtrend served as a good resistance and when it broke out it rallied up to my rectangle resistance and bounced there. I could even have traded the breakout from the downtrend but it was only a R:R of around 1.
The downtrend served as a good resistance and when it broke out it rallied up to my rectangle resistance and bounced there. I could even have traded the breakout from the downtrend but it was only a R:R of around 1.
Comment:
For me this means it pays off to learn more about plain price action trading.