BTCUSD Long: To the moon?
Context:
Currently trading above previous high from Nov. 2021 with bullish FVGs on monthly chart - but we are now in a consolidation, but with upwards tendency. Same for the weekly chart - we just took out the previous week high.
Idea:
• Entry between prev. week high and prev. day high after 4h close above bearish FVG.
• Entry in mentioned area preffered with a lower timeframe setup like a reversal candle on 30min.
• Approach of the entry should be without FVGs on 30min. Otherwise wait for bearish 30min FVG to be closed.
Stop: Below your 30min entry setup
→ 1st TP: Around ATH / 73500
→ 2nd TP: trailing stop: "sky is the limit"
When does this scenario become invalidated? If the current 4h candle becomes a confirmed reversal candle. Then we could rally lower to at least 69000.
Currently trading above previous high from Nov. 2021 with bullish FVGs on monthly chart - but we are now in a consolidation, but with upwards tendency. Same for the weekly chart - we just took out the previous week high.
Idea:
• Entry between prev. week high and prev. day high after 4h close above bearish FVG.
• Entry in mentioned area preffered with a lower timeframe setup like a reversal candle on 30min.
• Approach of the entry should be without FVGs on 30min. Otherwise wait for bearish 30min FVG to be closed.
Stop: Below your 30min entry setup
→ 1st TP: Around ATH / 73500
→ 2nd TP: trailing stop: "sky is the limit"
When does this scenario become invalidated? If the current 4h candle becomes a confirmed reversal candle. Then we could rally lower to at least 69000.
Note
4h will most likely close as reversal candle. If the next 30min-Candle will close above 70.40, this could still become a long
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