BTCUSD is now trading above daily swing lower high, favorable zone to place a short trade following daily swing.
Stop-loss is placed above highest high.
It is rumored that Tether holds Evergrade CP and these CP could be booked as off-balance sheet liability. We all know that Evergrand rating has never been AA. However, asset backed commercial paper could...
This is a simple trade plan to identify bull impulse failure. The same can be applied on bears as well.
1) Price made significant move upside
2) Retracement made higher high
3) Price breaks fresh low after higher high (turned highest high)
4) Place sell limit on previous swing high point
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Commentary written on chart.
Traders falls into the trap of drawing multiple swings. A chart with too many swings can be counter-productive and generate ideas to fuel your bias.
We have written basisc of swing trading in the chart. We hope that you have a better understanding to swing trading or perhaps giving you another perspective.