This chart represents a 4-hour BTC/USD trading setup using a common technical analysis pattern. Here's a breakdown of what's depicted:
Key Components:
1. Entry Line (Green):
Around the 107,486 level.
This marks the resistance level where a short position may be initiated if price fails to break above convincingly.
2. Stop Loss (Red):
Positioned slightly above the resistance (around 110,000).
Protects against unexpected upward breakouts.
3. Target Line (Blue):
Located below 97,000.
This is the anticipated profit zone if price reverses down after hitting resistance.
4. Arrows:
Red arrows: Indicate points of resistance or potential reversal.
Green arrows: Show bounce points from support or buying interest areas.
5. Ichimoku Cloud:
The shaded area represents support/resistance zones and trend direction.
The price above the cloud suggests bullish sentiment, but the pattern may indicate a potential reversal.
Interpretation:
The setup looks like a potential double top or distribution phase, with a short trade idea based on price rejection from resistance.
A trader may be expecting a reversal to the downside, targeting the support zone near 97,000, with a stop placed above recent highs.
Let me know if you want a more detailed analysis or a breakdown of risk-reward, pattern confirmation, or indicators used.
Key Components:
1. Entry Line (Green):
Around the 107,486 level.
This marks the resistance level where a short position may be initiated if price fails to break above convincingly.
2. Stop Loss (Red):
Positioned slightly above the resistance (around 110,000).
Protects against unexpected upward breakouts.
3. Target Line (Blue):
Located below 97,000.
This is the anticipated profit zone if price reverses down after hitting resistance.
4. Arrows:
Red arrows: Indicate points of resistance or potential reversal.
Green arrows: Show bounce points from support or buying interest areas.
5. Ichimoku Cloud:
The shaded area represents support/resistance zones and trend direction.
The price above the cloud suggests bullish sentiment, but the pattern may indicate a potential reversal.
Interpretation:
The setup looks like a potential double top or distribution phase, with a short trade idea based on price rejection from resistance.
A trader may be expecting a reversal to the downside, targeting the support zone near 97,000, with a stop placed above recent highs.
Let me know if you want a more detailed analysis or a breakdown of risk-reward, pattern confirmation, or indicators used.
Trade active
Trade active
Join telegram free...
t.me/aoh7ntKqUcdkZWJk
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/aoh7ntKqUcdkZWJk
t.me/aoh7ntKqUcdkZWJk
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/aoh7ntKqUcdkZWJk
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.
Join telegram free...
t.me/aoh7ntKqUcdkZWJk
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/aoh7ntKqUcdkZWJk
t.me/aoh7ntKqUcdkZWJk
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/aoh7ntKqUcdkZWJk
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.