BTCUSD - in very narrow corection and...
Updated
Morning Traders,
I had mark entry after price break support on 45703.50 and close first candle bellow that support. At this time giving profit of 2700$. not to bad. If you open short position wait for price responds.
OK, lets talk about current situation.
Price is in very narrow correction. Most of the time narrow correction means price will explode either direction. At this time we do not know direction price will go. Momentum is in neutral zone then we can not open any positions. Also price touch bottom of channel.
I think you know what is that means. There is a chance that price will move higher. At this time price is trap between 42263 and 41312.
Again vertical red lines reflects in the FUTURE change direction. There is also support on 40467.
Any candle breaking narrow correction and closing with significant length will be signal to open position one of the directions.
You can always change to lower time frame to get better entry.
DON'T FORGET TO LIKE THIS ANALYSIS.
cheers,
Jim
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT , IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
I had mark entry after price break support on 45703.50 and close first candle bellow that support. At this time giving profit of 2700$. not to bad. If you open short position wait for price responds.
OK, lets talk about current situation.
Price is in very narrow correction. Most of the time narrow correction means price will explode either direction. At this time we do not know direction price will go. Momentum is in neutral zone then we can not open any positions. Also price touch bottom of channel.
I think you know what is that means. There is a chance that price will move higher. At this time price is trap between 42263 and 41312.
Again vertical red lines reflects in the FUTURE change direction. There is also support on 40467.
Any candle breaking narrow correction and closing with significant length will be signal to open position one of the directions.
You can always change to lower time frame to get better entry.
DON'T FORGET TO LIKE THIS ANALYSIS.
cheers,
Jim
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT , IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Note
This is amazing not of people like my analysis. This is sad.Note
Then stay on your on.
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.