BitcoinShort
BTCUSD - Short Fib Play
Note : I am already scaling in, 0.4x short, looking for complete hedge
Premise:
1. Hourly Bearish divergence + correction is expected
2. Slight trend volume weakness
3. OTE retrace
Execution:
1. Short : 6456-6491
2. Stop : 6553
3. Target 1 : 6362, Target 2 : 6282
Result:
1. 4.92:1 Reward:Risk trade
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Note that it may appear like this is a hindsight trade - here is my chart basis my entry :
Premise:
1. Hourly Bearish divergence + correction is expected
2. Slight trend volume weakness
3. OTE retrace
Execution:
1. Short : 6456-6491
2. Stop : 6553
3. Target 1 : 6362, Target 2 : 6282
Result:
1. 4.92:1 Reward:Risk trade
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Note that it may appear like this is a hindsight trade - here is my chart basis my entry :
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.