Trying to establish bias on BTC through multi time frame analysis that would warrant taking a short position.
When all time frames are telling the same story then we should have a strong conviction and bias to that side.
As shown in charts I am waiting for a convincing break of that strong support to confirm my higher time frame
bias. Entry trigger can be on lower time frames still ( H1,H4 ) depending on strategy and setup.
I am patiently waiting for my trade idea to start playing out. If I dont see what I want to see then I dont trade.
I am prepared to accept that my trade idea is wrong if it goes the other way in which case I will re-evaluate and
look for opportunities that tick all my boxes again once they present themselves.
When all time frames are telling the same story then we should have a strong conviction and bias to that side.
As shown in charts I am waiting for a convincing break of that strong support to confirm my higher time frame
bias. Entry trigger can be on lower time frames still ( H1,H4 ) depending on strategy and setup.
I am patiently waiting for my trade idea to start playing out. If I dont see what I want to see then I dont trade.
I am prepared to accept that my trade idea is wrong if it goes the other way in which case I will re-evaluate and
look for opportunities that tick all my boxes again once they present themselves.
Comment:
Comment:
Always watching developing price action and managing trades.
If I see something I dont like then I am prepared to cut the trade without any hesitation.
If I see something I dont like then I am prepared to cut the trade without any hesitation.
Trade closed manually:
Trade didnt go as far down as anticipated. Closed for a very small profit. (scratched)
Trade closed manually