Long BTC/USD H4/D1
Updated
Whilst BTC was having tough days in July-August, altcoin market started to recover a litlle bit. Thus, it was and is (at this time) a leading indicator for the whole crypto market (f.ex. see my previous ATOM/USDT trading idea back in July).
On September 6-7 we saw an attempt to test liquidity below previous lows (18600) but btc had a pullback today and broke a recent consolidation (26 aug - 6 sept, price range - 19500-20400).
Thus, I see a good opportunity for a following trade:
Entry - 20300
SL - 18300
TP1 - 24000
TP2 - 28000
On September 6-7 we saw an attempt to test liquidity below previous lows (18600) but btc had a pullback today and broke a recent consolidation (26 aug - 6 sept, price range - 19500-20400).
Thus, I see a good opportunity for a following trade:
Entry - 20300
SL - 18300
TP1 - 24000
TP2 - 28000
Trade active
Entered the trade manually @20127. SL - 18300.
My thoughts is that on Sept, 13 it was "a kind of panic sell-off" due to FED narrative (inflation rate & FED rate rise anticipation).
Thus, I decided to open a position according to my plan.
Rules of consistent trader:
1) I have to trust myself and my trading system
2) Plan your trade. And trade your plan.
Trade closed: stop reached
stopped out.A lot of liquidity was at this level. And mine also. Pretty obvious in hindsight.
I have to look at heatmaps, orderbooks along with liquidation levels.
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