This is a classic 'A' up trade. Good risk reward ratio of 3.1:1 Stop loss at 11530.51 and trail your stop once it takes off. Profit target is somewhat open at this point - uncharted territory! Learn more at my site on how to trade this method.
As price has moved through the Pivot Range and the Opening Range, with Pivot Moving Averages pointing up and good separation, this is a clear buy signal. A little premature without the confirmation of 15 minutes for the 'A' value line to give the proper 'A' up signal.
Go long on breakout of Daily Pivot Range and the Opening Range high breach which provides a continuation of uptrend opportunity.
This is a good study in all key indicators aligning for a very low risk trade with huge upside and the risk reward ratio is very good.
An ACD' 'A' up trade setup through the Pivot Range and good 2.0 Risk Reward ratio.
Fortitude trade with the candle piercing, then closing above the Opening Range low. Go long on a break above previous bar high on strength.
This is what I call a Fortitude trade if it were piercing our daily Pivots or Opening Range levels. However, this still looks favorable without these levels in play with a risk reward ratio of 2.18:1 The rule is to go long on a break above the hammer candle high.
This chart will give you a better view to the ongoing trade "Go Long BTCUSD", with all indicators in visible (Pivots, Opening Range) to see the trade progression, trailing stop losses and profit targets. What you are seeing here is trade management. By managing the trade properly we are able quickly eliminate the risk of the trade being a losing trade, by bringing...
The rule is to wait for the close above the A or C value lines. However we do not have A or C value levels to determine an entry point with BTCUSD. Hence we are using the Pivot levels to determine validity of the trade to enter, in this case a close above the Pivot high level.
According to our rules a 'C' trade to go short is in place. Place stops at opposite of the Opening Range. see rules for further clarification.
The 'A' Up trade is established based on our rules. However since we have missed this initial move up, we will look for an entry based on a continuation of the move if the price breaks out above the previous high.
According to our rules the market is in the neutral zone where the price is trading within the Opening Range bands and the Pivot Range, both of which are overlapping. When this occurs after an A trade, in this case a failed A down trade, the bias then shifts to neutral.
Intraday bias has shifted to the short side due to price trading below or at the C value line for 15 minutes, half our opening range.
For short term trade go long inside channel near lows with profit target at channel high and stop loss below recent low.
Action to Take: Go Long, enter buy at market a break above the Opening Range High Take Profit Level: TP1 130271, TP2 130512 Stop Loss Level: 129960 Additional Factors: Timeframe: ~ 24 hours Total Risk of Account Equity: 2% or less
Action to Take: Go Long, enter buy at market above Pivot and Opening Range high Take Profit Level: TP1 79131, TP2 79383 Stop Loss Level: 78837 Additional Factors: Timeframe: ~ 24 hours Total Risk of Account Equity: 2% or less
Action to Take: Go Long, enter buy at 110418 stop Take Profit Level: TP1 110746, TP2 111173 Stop Loss Level: 110224 Additional Factors: Timeframe: ~ 24 hours Total Risk of Account Equity: 2% or less
Action to Take: Go long IF price closes above Pivot high, enter buy stop entry or at market Take Profit Level: TP1 110761, TP2 111207 Stop Loss Level: 110315 Additional Factors: Timeframe: ~ 24 hours Total Risk of Account Equity: 2% or less