BTCUSDT TD Buy Signal
Updated
There is what would be described as a perfect "TD Buy Setup" on the 30 minute timeframe for BTCUSDT that can be used to set up a buy order with limited risk. The TD indicator is meant to be a measure of buyer or seller exhaustion after a specific set of rules is applied to 8 or 9 consecutive candles moving in one direction. The start of these TD setups represent support or resistance levels. In this case, the BTCUSDT has failed to close below TDST support at 42390 on the 30 minute timeframe on three separate occasions, while previously taking out the first TDST resistance at 45232. We can set up a buy with a tight stop loss in hopes the support will hold and reverse with targets at previous TDST resistance levels.
Buy stop order: 43227 (just above the rejection candle of the TDST support)
Sell stop loss: 41800, or if 30 minute candle closes below TDST support at 45232
Targets: 46357, 49367, 51196
This is not and should not be taken as financial advice. I will enter this trade with only a small amount of capital to test this idea if the buy stop is met.
Buy stop order: 43227 (just above the rejection candle of the TDST support)
Sell stop loss: 41800, or if 30 minute candle closes below TDST support at 45232
Targets: 46357, 49367, 51196
This is not and should not be taken as financial advice. I will enter this trade with only a small amount of capital to test this idea if the buy stop is met.
Order cancelled
Buy stop not met and price dropped well below support.
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.