p3nchan

p3nchan

Up move before down candle formed a supply zone. The new MSB lured the breakout trader to short, who seeks a lower level for BTC. However the sudden pump trapped them and caused MSS. The supply zone became a breaker which is the potential exit for those who made the MSB. After the retest of the breaker, it led to the swing high at 7290, and position closed.//

p3nchan

MSB and MSS, breaker set up. Looking forward to the swing low level at 6557. But failed.

p3nchan

Risk management is very crucial when you trade. Here is one of my mostly applied strategies for risk management. It's useful for people who trade in a very volatile market or fade. This method aims to limit the loss to zero by taking profit when reaching 1R. It's with less profit than expectation, but lower the risk. 1. Open the position and set how much $...

p3nchan

Supply Zone formed and successfully open the position. But failed to reached the low. I think it's due to the uptrend of HTF. So better watch the trend at first.

p3nchan Updated 

MSB and demand formed. Long and see how it goes here.

p3nchan

Wait for the tapped low on 996.55, then for the equal highs. SL at the lower level of the supply zone.

p3nchan

A dip and structure break happened in Asian Session. Then a low level formed and there's a sweep on the low level. After that During the NY session the position exit at the supply zone.

p3nchan

Whether it goes up or down, now it's not a good timing to trade. Scenario 1: Going down to around 18.6k then reverse. (But if it goes down too harshly, then it's highly possible toward 17.6k, or even lower.) Scenario 2: Up to MH then down. But this chance maybe less than S1. Here, I'll look for the PA after they reach either level.

p3nchan

Price may go up to 23k to get liquidity on next weekdays, then going down. Look forward to the low level at about 19k & 17.6k below.

p3nchan Updated 

Breaker set. Looking forward to the POCs and the lq below.

p3nchan

Potential short opportunity downward to the low. After a small sweeping on high, the supply is now a chance to enter short. Looking forward to the low at ~23 and ~21.

p3nchan

Now the price reached the lq level, PWO and caused MSB. According to data, the OI reached a local high, so we can assume the big players are still holding their long position. However, the L/S ratio is quite low, which is 0.74. Also, at the level of 21k, the liquidation was not much enough. Reaching 21.7k may be a possible scenario here.

p3nchan

Breaker set up after the structure shift. Waiting for the retest on the breaker.

p3nchan

Potential short position can be built after the shift. Seeking the position down below.

p3nchan Updated 

Now rather than tapping the low, it started to climb. Looking forward to seeing it going up then down toward the 17.6k level for lq.

p3nchan Updated 

Short set up after the MSS happened. Seeking the low.

p3nchan

The key low is still untapped after few days of consolidation. If it still left untapped and go up to 21.7k level, will looking forward to the short downtrend to the 17.6k. However, if the 18.5k is tapped in near future. the market may go up more than 21.7k. So will the how it goes from now on. The shorting gameplan will be edited in future according to the price action.

p3nchan Updated 

The price caused an equal highs around 7.4k, and now expecting it go downtrend as it has already grabbed the lq. Looking forward to going down to 6.4k if it get back into the bearish ob and entered at he .705 ote.