Bitcoin / TetherUSUpdated BTCUSD, triangle within consolidation/correction channel in BTC
Hello everyone, triangle has formed within bearish flag pattern. This flag/channel could mean continuation in price decline. What I am looking for is for the triangle resistance or support line to get broken before entering. If resistance is broken first, I would like for the green candle to close above it (or very close to it), and enter the trade after first red candle forms. If support is broken first, then I will enter short trade when red candle closes bellow it. So, as soon as my conditions are met, I will buy some “red options” (on red candles, max 10).If flag/channel resistance line gets broken before my entry conditions are met, I will re-evaluate this set-up. My rules are the same as before:
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Rules:
7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
If you have questions about candle color options or wish to discuss trading strategies in real time, join - candle color options - chat, right here on tradingview.
Rules:
7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.
8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.
9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).
Please follow, like and comment !
Trade active
Red candle closed bellw triange support line, s I wi start pacing bets n red candles (max 10).
Note
sorry for spelling mistakes in above message, my keybord went on a strike :)Red candle closed bellow triange support line, so I will start placing bets on red candles (max 10).
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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.
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.