Short the retest of resistence. Waiting for "OHLC" candle on D candlestick chart as confirmation. Inspired by Hsakatrades.
Conservative entry; W close above range mid (11k). SL under W structure, which is yet to form. Save this chart for a few years from now.
Played the SFP at W range low too. Twas a nice one.
Just testing at this point. Trying to figure out how to systematically place SL in a safe spot, without sacrificing R too much.
There are two types of strategies. Breakout trading (a level gets broken), and retest trading (a level holds). Confirmation: - Breakout requires one D close beyond the level. - SFP requires price to wick beyond the level, but have the same D candle close within it. - Retest requires a D close beyond the level, and another D candle to close without touching the level.
Does the opposite of eachother during moves. And ETHBTC just falls during consolidation.
It is so refreshing to look at a just the price instead of all the drawings. I make way better analysis with clean charts. It helps you see price for what it really is, price. Price.
I did not take the trade because I still think the market will rally eventhough this is technically an SFP. If I am doing this wrong please let me know.
We need a minimum of 2 consolidations to break higher, and remove the previous high to qualify for an uptrend. Only time will tell.
Trade with the (order)flow. Buy low, sell high. * Longs only below 20% * Shorts only below 80% Top-down analysis Tips are always welcome :D Might update with LTF setups later. Personal approach: - Limit orders only on (supply/demand) boxes. - Breakout trading under the right circumstances - I'm not comfortable with trading S/R flips as of yet. -...
Now lets see if the disbelieve is fair or stupid
BTC , ETH, LTC and Ripple take turns leading the global crypto markets. Of which, Ripple has been the strongest over the last few months. The weekly timeframe is consolidating inside a downtrend atm. We can swing trade the more volatile lower timeframes for increased profit margins. The goal is to make as many high accuracy, high R:R Trades as possible....
A while ago I talked about increasing R/R by stepping away from breakout trading, and trading zones. After a sharp move away, a lot of unfilled orders are left behind. These are possible turning points in the market. Trading the allows you to buy low and sell high. Of course we still need top down analysis to do any sensible swing trading, and increase our odds....
LTCUSD leading, BTCUSD lagging. SP500 and such are also bouncing. BTCUSD longs/shorts have risen strongly the past two weeks, while price fell a bit. Doesnt seem like pleb buying. IF we break up, conservative long cuz we still in a higher tf downtrend.