* DON'T BE AN IDiOT AND THiNK FOR YOURSELF!
* THiS iS NOT A FiNANCiAL ADVICE!
TRADE:: LINK_02_02052021
STATUS:: Contemplating entry point. I have to see a nice compession with a couple of 1H lower wicks in combine with higher highs to avoid fakoeouts.
TYPE:: Long
PATTERN:: Consolidation Flat
SIGNAL:: 4H MFI Breakout
FILTER:: 1H OBV
VOLUME:: $21000
ENTRY:: around 27.19-27.30
SL:: 26.72
TP1:: 32
TP2:: 40
R/R:: 27
RISK:: $420
REWARD:: $5000-$7000
PROS::
1. 20 Days of accumulation in $26-$20 area
2. 4H MFI breakout is enoung strong signal to place a bigger bet
CONS::
1. I was shaken out at $24 price level and just want to get back in. I should've bought back previous low, so entering now is much more risky
OVERALL::
* Upward pressure to continue
* Strong 4H MFI signal
* Phoenix indicator shows enough room to reach $32-$40 levels
* Dangerous breakout trade at the top
* THiS iS NOT A FiNANCiAL ADVICE!
TRADE:: LINK_02_02052021
STATUS:: Contemplating entry point. I have to see a nice compession with a couple of 1H lower wicks in combine with higher highs to avoid fakoeouts.
TYPE:: Long
PATTERN:: Consolidation Flat
SIGNAL:: 4H MFI Breakout
FILTER:: 1H OBV
VOLUME:: $21000
ENTRY:: around 27.19-27.30
SL:: 26.72
TP1:: 32
TP2:: 40
R/R:: 27
RISK:: $420
REWARD:: $5000-$7000
PROS::
1. 20 Days of accumulation in $26-$20 area
2. 4H MFI breakout is enoung strong signal to place a bigger bet
CONS::
1. I was shaken out at $24 price level and just want to get back in. I should've bought back previous low, so entering now is much more risky
OVERALL::
* Upward pressure to continue
* Strong 4H MFI signal
* Phoenix indicator shows enough room to reach $32-$40 levels
* Dangerous breakout trade at the top
Note
Guys, the setup is invalidated! I will place another trade soon!
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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.
Related publications
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.