Hi mates, Sharing an trade idea for BTC as we can see it gives an identical bounce from support and now facing resistance for retracement, so i want to go for a long side retracement trade if it will break resistance and close above targets shared on chart.
One can use own time frame (smaller) for closing or activation of this trade for tracking this idea.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
One can use own time frame (smaller) for closing or activation of this trade for tracking this idea.
This is not and trade or investment advice. This idea is meant for learning only.
Best Regards happy trading- Amit
Note
Taken exactly mentioned resistance, Got a short entryTrade active
This is the move, First time it break resistance after publicationEntered on a smaller time frame as mention in idea
Trade active
Trailing Stop loss UpdateNote
i assume that now resistance will work as support, so if it will bounce from resistance a i will plan a fresh long trade again in it, trailing stop loss triggred mentioned in update above, but dropped good gains afterallNote
Got a same bounce from mentioned identical bounce spot, but i believe that marked resistance can not be breached in first attempt, Trade will active if break and close will use hourly time frame for this breakout nowNote
After touching target 1 taking exact resistance so far from resisatnce based target. if break and close above we can see target 2 very soon. Earlier resisatnce no break in 1st attemt as i mentioned in update aboveTrade closed: target reached
Target Update-:After completed target 1 (2nd october check update above) price came down and tested it's resistance for long as support and got bounce from there and copleted target two of 29800 from 21721 levels and took price rejection from resistance based target two so closing this idea completly will publish a new one on it, i have to update this yesterday regret for late update posting mates. Cheers !
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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.