Idea of a SHORT trade with the XBT/USD. Channel congestions b.o.

This is a trading idea created for the date: 28/5/2020
and is valid until 24:00 GMT+1

Symbol: XBT/USD
Time Frame: 4 Hr. bars

Expected duration of position when open: 4 Hr. up to 29/5/2020 24:00

Trade idea is: Channel congestion low side break out making it probable for a downward move towards 8500.00

Go SHORT if Price goes thru (below) 9090.00
Position your T/P @ 8594.00
Position S/L @ 9587.00
When the SHORT is open @ 9090.00 and the prices goes thru (below) 8840.00 move your S/L to : 9355.00
If position is still open on Friday close it out at 24:00. Profit or Loss!! No trading during weekend for risk of low liquidity and spread widening.
Close the position before the weekend with Profit or Loss!
Next week we can find a new opportunity for another trading idea.

Happy trading,
Dan
CryptoDesperado

Comment:

Do not expect every trading idea to be successful.
A good trading idea is one thing.
Good money management is another important ingredient to end up in profits or loose less.
Use due diligence and proper m.m.
Do not chase losses.
Do not try s.a.r. to panic trade the opposite way.
Make sure you can afford to loose all the money you allocated to trading.
Have your position sized that the loss will not make you stressed or nervous.
Trade ideas/setup of mine are created and focused to take pips out of the market and not to make a prediction or forecast of the underlying instrument traded.
I have an personal interest in the ideas myself as I trade them also.
I am not a financial advisor. Do your own due diligence and learn to trade on your own.
Happy trading,
Dan
CryptoDesperado

Comment:

Price stayed above the target before expiration time of the trading idea.
This trade should no longer be executed.
Next week we start looking for a new setup.

Like, comment, follow.
Happy trading!
Dan
CryptoDesperado

Order cancelled