BitcoinShort
BTCUSD - Fib Short Play
Updated
Premise:
1. The price will enter the OTE with lower volume than the rally on the local bottom
2. Lower timeframes will indicate possible weakness and distribution
3. A Hidden Bearish Divergence will thus form on H4, hence completing this checklist
Execution:
1. Short scale 1:2 at 4114 and 4158 respectively, 2x cross
2. Stop Cluster at 4275
3. Target 1 : 3819
4. Target 2 : 3465
Result:
1. A 2.84-5.85:1 RR trade is completed.
1. The price will enter the OTE with lower volume than the rally on the local bottom
2. Lower timeframes will indicate possible weakness and distribution
3. A Hidden Bearish Divergence will thus form on H4, hence completing this checklist
Execution:
1. Short scale 1:2 at 4114 and 4158 respectively, 2x cross
2. Stop Cluster at 4275
3. Target 1 : 3819
4. Target 2 : 3465
Result:
1. A 2.84-5.85:1 RR trade is completed.
Note
Entered hedge when I saw thisNote
Note
Exited hedgeTrade closed: target reached
Target 2 strike
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