Looking at a short setup for BTC which is the wyckoff distribution schematic #1
I can see BTC running upwards to take short stops and test the yearly open before going back down again, this way both bulls will be trapped and bears will be out of position.
Trade plan:
Waiting for BTC to push above the UT and possibly test yearly open, I will open a short position when the range is reclaimed and makes a swing failure pattern.
Alternatively:
BTC could test the H4 supply and fill the CME gap and go down from there but will have to wait and see how price develops from that level
I can see BTC running upwards to take short stops and test the yearly open before going back down again, this way both bulls will be trapped and bears will be out of position.
Trade plan:
Waiting for BTC to push above the UT and possibly test yearly open, I will open a short position when the range is reclaimed and makes a swing failure pattern.
Alternatively:
BTC could test the H4 supply and fill the CME gap and go down from there but will have to wait and see how price develops from that level
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ