BitcoinLong
LONG: Adam & Eve forming on the 4h?
Updated
From my analysis, it looks like an A&E is just breaking out on the 4h BTCUSD chart.
Putting the stop loss at the Kijun could would allow for a 6% pullback before getting stopped out. While the target (computed by measuring the hight of the Pattern) is at 15% percent and above the previous ATH.
Risk/Reward Ratio: 2.4
On the other hand, a H&S pattern could be forming on the daily. Which makes this trade too messy for me to enter. Or maybe only once we near ATH.
This is not financial advice, just an observation.
Watcha think? Would you take this trade?
Putting the stop loss at the Kijun could would allow for a 6% pullback before getting stopped out. While the target (computed by measuring the hight of the Pattern) is at 15% percent and above the previous ATH.
Risk/Reward Ratio: 2.4
On the other hand, a H&S pattern could be forming on the daily. Which makes this trade too messy for me to enter. Or maybe only once we near ATH.
This is not financial advice, just an observation.
Watcha think? Would you take this trade?
Note
1/3rd of the target met 24 hours later. I'm curious to see if the 40k line turns into resistance.
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