BTCUSDT POSSIBLE SHORT SETUP
Updated
Price needs to go above the POC to mitigate the fair value gap . Three possible short trades with different RR using future liquidity sweeps and fib ratio .To give more confluence and confirm all entries i prefer to see a form of candlestick reversal pattern and/or a candlestick close below the 50EMA
The conservative entry is to let price mitigate the FVG and supply zone then close below POC and 50EMA + MACD & STO(21,5,5,) cross. price must form a long bearish candle with minimal wicks especially the lower wick but you will lose the opportunity to catch a longer RR trade
Invalid if candle closes above the 61.8%
Good LUck
The conservative entry is to let price mitigate the FVG and supply zone then close below POC and 50EMA + MACD & STO(21,5,5,) cross. price must form a long bearish candle with minimal wicks especially the lower wick but you will lose the opportunity to catch a longer RR trade
Invalid if candle closes above the 61.8%
Good LUck
Note
Possible first entry on the break of the mother inside bar lowTrade active
MACD and STO(21,5,5,) momentum are down and price is below the 50EMA . this is probably just a pullback and an opportunity to enter short again .Order cancelled
The first setup was weak and a trade was not taken. I was waiting to see a candle with a long upper wick to show bulls rejection but none until it reached the 38.6 fib (lets call it candle " A" ) and MFI had a bearish divergence so i was getting ready to enter once the next candle closes below the low of candle " A " but it did not happens so i decided not to enter a trade .lets wait and see the other setups
Note
Second setup entry reached but MACD and STO are both strong bullish bias , and STO is overbought. An inside bar is formed @ 7:00 UTC (let called it candle "B" ,I will enter short only if we close below the low of candle "B" and either MACD/STO crossed down , and adjust the stoploss to the high of candle "B" at entry then move it to breakeven .Good LUck
Note
Second setup failed again but the price still did not close above the 61.8 fib on the 1h so the third is still valid ,1h MFI+STO are extremely overbought .sell entry is still possible below the low 12:00 and the cross of Both MACD STO . price might reach 70405 before reversing and as an extra confluence a reversal candlestick pattern will be betterTrade closed manually
Momentum is down but the price is moving sideways with low volatility next time
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