As You see formation of ISHS is in play. Very risky trade however!
Note
I in cases like this dont set SL on exchange, but in my mind. If price falls to 4100$ i will seek bounce from there and cut this position possibly close of enrty point or even in entry point.Note
Entry should be around 4300 or lower on small retrace, SL (in mind) under 4100, TP around 4800$ (better check in this lever divergences, when are not hold position for higher levels when divergences are strong)Note
When latest 4h candle closes under 4320, dont trade!Note
Also divergences @ AO and MACD on 1h chart, suggest that this trade is very risky!Note
Note
So i dont take now this position, however i am bullish btcusd until price action is above trendlines.Note
4h candle closes @4330, but this divergence on 1h chart discourage to tale long position. Price may hit now even 4400-4600 and then retrace without fulfiling ISHS formation so i wait for more reliable prico formation to play longs here.Note
As i said before this formation had little chances to be fulfiled now price is on breakout line, and will be lower of course.Note
This formation was about to be invalidated but...tradingview.com/chart/BTCUSD/DsoPVFmq-Next-ISHS-formation-but-greater-than-before/[/image/
Note
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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.