BTCUSD - Fib Short Play
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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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.
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.