BTCUSD: TD Sequential Long Trade On 3 Day Chart
Analysis: Price bottoming on a TD Sequential 9 at the 200 MA
Entry: $7,620 - A green 3 moving above the green 2
Stop: $7299 - A red 1 moving below the green 2 (-4.2%)
Target: $8595 - Horizontal resistance (+12.8%)
Plan: Tighten stop loss to break-even around $7,900 (100 MA)
Risk/reward: 3
This is what the TD Sequential has been like on the 3 Day chart since 2018:
Entry: $7,620 - A green 3 moving above the green 2
Stop: $7299 - A red 1 moving below the green 2 (-4.2%)
Target: $8595 - Horizontal resistance (+12.8%)
Plan: Tighten stop loss to break-even around $7,900 (100 MA)
Risk/reward: 3
This is what the TD Sequential has been like on the 3 Day chart since 2018:
Note
No position taken as of yet, hence charting this on BLX chart: I'm waiting for a Daily close before entering any position on the 3 Day chart. I'd still be interested if price closed above $7620, potentially more so if price got back up there.
Order cancelled
Just closed the 3 Day candle on a Red 1, therefore trade cancelled. There is now a short trade below the Red 1 at $7139, thought personally wouldn't take this trade as the 200 MA is around 7k at the moment. 12hr is also on a Red 9 sequential buy.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.