XBT Strategy 30th October
As you know, this downward trend pattern often has a downward exit as well. In addition, this level also corresponds to a horizontal support at $6260.
The strategy is to go short if these 2 levels are broken to aim for a return to $6210 and $6140 afterwards.
Summary of the strategy:
Short: Confirmed and support breakage at $6260. One candle below the support in 30 min time horizon can count as confirmation !
T1 : $6210
T2 : $6140
Stop: $6287 after the break
Make sure to raise your stop-loss above your purchase price if the price approaches T1, to eliminate the risk of trading.
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