Bearish Gartley on Bitcoin 1H
BTC completed a bearish gartley on the 1H and looking to take 1st target at 38.2 retracement and 2nd target at 61.8 level.
Reason for entry:
Bearish Gartley Pattern
Bearish Divergence on RSI
Price rejection at the top of Bolinger Bands
Reason for entry:
Bearish Gartley Pattern
Bearish Divergence on RSI
Price rejection at the top of Bolinger Bands
Trade active
Stop loss for this trade at 1.31 ext from X to ASecond chance entry:
Double top
Bearish Divergence on RSI
Trade active
Both targets hit. Leaving 10% of initial lot with trailing stopNote
Stop loss was meant to be 1.13 not 1.31Note
Note
Fib retracement levels were taken from leg A of Gartley to the highest point of the D leg.
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.
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.