BTC Head & Shoulders
Updated
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₿itcoin broke the yellow uptrendline, backtested it and got rejected. Now it just formed Head and Shoulders🤷 pattern. IF price definitely breaks the Neckline at 18905 I think there is chance for drop to 12680 and even lower, but I expect some pullback up first. Setting 3 SELL LIMIT orders each at different price, but all the positions will have the same STOPLOSS and same TARGET. Obviously each will have different Reward Risk Ratio (RRR). Zoom in to see the gray Callouts better.
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
₿itcoin broke the yellow uptrendline, backtested it and got rejected. Now it just formed Head and Shoulders🤷 pattern. IF price definitely breaks the Neckline at 18905 I think there is chance for drop to 12680 and even lower, but I expect some pullback up first. Setting 3 SELL LIMIT orders each at different price, but all the positions will have the same STOPLOSS and same TARGET. Obviously each will have different Reward Risk Ratio (RRR). Zoom in to see the gray Callouts better.
- ENTRIES:
---------- SELL LIMIT1 @ 19330.00
---------- SELL LIMIT2 @ 20790.00
---------- SELL LIMIT3 @ 22200.00 - STOPLOSS (SL): Right Shoulder @ 22781
- TARGET (TP): H&S target projection @ 12680
- REWARD RISK RATIO (RRR):
----------- SELL LIMIT1 - RRR 1.9
----------- SELL LIMIT2 - RRR 4.0
----------- SELL LIMIT3 - RRR 16.2 - INVALIDATION: when SL level hit
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
SELL LIMIT1 Order filled ✔️Trade active
SELL LIMIT2 Order filled ✔️Trade active
SELL LIMIT3 Order filled ✔️ few days agoTrade closed: stop reached
Stoploss hit 🛑 (pattern invalidated). After long battle the bulls won in the end!
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