BitcoinLong
BTCUSD - Swing Trade Setups (Both Short and Long)
Updated
Defining expanding price range for next week. Trades are as following:
Short Setup
~~~~~~~~~~
Premise:
1. A Hidden Bearish Divergence will appear on the H4 SRSI
2. The Doubled Settings TK will be tested on Ichimoku (note that this is lower than my entry therefore my orders may be too high to hit - to compensate I have set alarms and will take the trade if I'm available)
3. The up move will not consist of less than nine candles.
Execution:
1. 1:1:1:1 order distribution above 0.705 zone to 1.5x short.
2. Stop cluster of four limits, one trailing and one market at 7382.
2. Target 1 is 6389, exit 1/3rd of short and move stop to entry, to stay hedged.
3. Target 2 is 5933 where I will switch Long.
Result:
1. A 3:1 Reward:Risk Trade Setup completed
2. Ten consecutive good trades in a row completed (very excited about this :) )
Long Setup
~~~~~~~~~
Premise:
1. A Regular Bullish Divergence will appear on the H4 SRSI.
2. Local Support will not fail below entry price hence entry will be a low leverage long.
3. The down move will follow the SRSI projection as shown.
Execution:
1. 1:2:3:4 order distribution below 5923 till 5604, with all orders in this ratio
2. Stop cluster of four limits, one trailing and one market at 5446
3. Target 1 is 6800 where I will close half of my long.
4. Target 2 is rolling to capture as much of the up move as possible. Rolling refers to a trailing stop and profit stop set such that the preceding candle's low is the stop.
Result:
1. A 3:1 Reward:Risk Trade Setup completed
2. Eleven good trades in a row to wrap up the streak so I can go back to scalping.
Short Setup
~~~~~~~~~~
Premise:
1. A Hidden Bearish Divergence will appear on the H4 SRSI
2. The Doubled Settings TK will be tested on Ichimoku (note that this is lower than my entry therefore my orders may be too high to hit - to compensate I have set alarms and will take the trade if I'm available)
3. The up move will not consist of less than nine candles.
Execution:
1. 1:1:1:1 order distribution above 0.705 zone to 1.5x short.
2. Stop cluster of four limits, one trailing and one market at 7382.
2. Target 1 is 6389, exit 1/3rd of short and move stop to entry, to stay hedged.
3. Target 2 is 5933 where I will switch Long.
Result:
1. A 3:1 Reward:Risk Trade Setup completed
2. Ten consecutive good trades in a row completed (very excited about this :) )
Long Setup
~~~~~~~~~
Premise:
1. A Regular Bullish Divergence will appear on the H4 SRSI.
2. Local Support will not fail below entry price hence entry will be a low leverage long.
3. The down move will follow the SRSI projection as shown.
Execution:
1. 1:2:3:4 order distribution below 5923 till 5604, with all orders in this ratio
2. Stop cluster of four limits, one trailing and one market at 5446
3. Target 1 is 6800 where I will close half of my long.
4. Target 2 is rolling to capture as much of the up move as possible. Rolling refers to a trailing stop and profit stop set such that the preceding candle's low is the stop.
Result:
1. A 3:1 Reward:Risk Trade Setup completed
2. Eleven good trades in a row to wrap up the streak so I can go back to scalping.
Note
Setup discardedNote
This is what it looked like - made a mistake there, assumed volume would return, it didn't. Otherwise the swings were bang on.
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