BTCUSD Supports - Heffae's Clouds 8H+1D @ 8900 and 8450
Updated
The 8H and Daily charts show the Realtime+Cloud providing support at levels shown in the chart.
These will be good levels to look for candles closing above the support lines.
If candles closing below the support lines, the paths are violated and the support no longer holds.
The 3D chart shows a upcoming bearish path that could make lower lows than seen previously in 2018.
My action is to spread bids under 8900, but exit the position if an 8H candle closes below 8850. Again spread under 8500 with another exit if the daily closes under 8400. This is somewhat of a high-risk trade since using stops will likely result in them being hit by candlewhips, instead spread bids to get filled by candlewhips and exit the trade if candles close under the supports.
These will be good levels to look for candles closing above the support lines.
If candles closing below the support lines, the paths are violated and the support no longer holds.
The 3D chart shows a upcoming bearish path that could make lower lows than seen previously in 2018.
My action is to spread bids under 8900, but exit the position if an 8H candle closes below 8850. Again spread under 8500 with another exit if the daily closes under 8400. This is somewhat of a high-risk trade since using stops will likely result in them being hit by candlewhips, instead spread bids to get filled by candlewhips and exit the trade if candles close under the supports.
Order cancelled
8H is closing under cloud top, dynamic targets for support have moved up to 9080 on current candle. Next support on daily ~8300 is target
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