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BTCUSD Long following a nice pullbackSo far, we've seen a nice run on BTC. And its been a while since I've traded BTC, but as I missed alot of opportunities since last week, I figured tonight would be a good night when I saw that nice pullback. As I am seeing bullish structure being formed, I entered a LONG, hoping for continuation. Reasons for entering trade: 0.618 Pullback of the last push up Wyckoff schematic, entry on retest Entry on predefined POI As more structure is being broken to the upside, BTC is showing signs of strength for continuation To be honest, I am not confident that we are going too much higher. I would like to see more structure broken to the upside before I think there is a chance that this could continue up. Even if it does continue up, we will likely see a large pullback to grab some of the liquidity created along the way. As for this trade, I've entered a low risk, narrow SL trade, so even if it goes against me, not a big deal. If it breaks the fractal AR, then I will set BE and let it run. And if it continues, I'll take partials at the target in the chart, and let the rest run, hoping for continuation.
BITSTAMP:BTCUSDLong
by AfterlifeTrading
Agressive BuyI was going to wait for a break but I changed my mind and still buy bias My confluences 1. 3RD trend line touch 2. 1.8 sup touched at the same time 3. Buyers market 4. 1 hour candle is a bullish piercing line 5.-25/-27 retracement and the 61.8% retrace match up perfectly with TP( quarter level theory ) and structure 6. on the 4 hour we see a lot of bearish engulfing patterns, I mean they are huge, But they aren't bringing price down so I think there's a lot of liquidity of sellers that are going to be collected Things that can go wrong 1.StopHunt 2.My SL is to tight 3. I am wrong 4.Bad timing in the market 5.fundemtnal 6. My buy limit already got hit so am good actually This a super aggressive trade with a aggressive SL.
Long
by VividCloud
1