Bitcoin: BTCUSD See how the successful retest of the bigger controlling (until midnight est) parallel took 2 hours to occur at the 6150 level? This retest of the old dynamic support we were looking for around 6515-6500 range has taken an hour to play out as price danced either side of the line but with a low at 6503. It's always a tense period watching,...
Hi! Last idea I said according to the chart and RSI that longs were commencing and it should for the next few hours, and it did! The 0.25 micro-lots turned out well and is now $95. The Price Action is still favoring longs so I'll stick to that. Basically, I use RSI as a confirmation. I know that indicators can get a little bit laggy further on.
Read structure of the market first. Structure is the market language. Use patterns to initiate your trades only when you have an idea of what direction the market is more likely to go. Cheers)
Attached in the related ideas is was the original chart n the rationale behind it. After my target was just hit within the last hour, i managed to grab over 130 pips in profit for this pair alone. As it stands we are breaking down from uptrend over the last couple months to a full correction/ large channel sequence. Using the Green trendline as guidance for the...
Attached to this is the before image shot + the analysis n the rationale behind it. Price just reached its target now, banking in over 250+ pips in profit! Should price keep falling the CS levels are the ones to watch