BTC Long Setup $100K
A 1D candle close through the 1D level = bullish trend continuation guaranteed.
But a 1D candle close through the level doesn't mean that price is not 'allowed' to get back and close below this level (only for BTC, altcoins I don't know: Doge would argue otherwise for example). It is allowed to and the reason why this should be kept in mind is because there is a clean level created (blue circle).
But the presence of a clean level doesn't necessarily mean that the level will get hit. It will depend on how LTF PA develops at the high which we will get into below.
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If price hits the current highest high, making a new HH, then the LTF lowest low which created this new HH will be the new HL and if price gets below this HL then there's a chance price will hit the clean level.
If price doesn't hit the current highest high but goes down instead, then the clean level likely won't be hit.
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But... we want the trade, what will be the trade?
I'm hesistant of the right SL: what's that consolidation inbetween before pump all about? Could price get below this or not? If not, then the right SL is the low of this consolidation.
If price doesn't make a new HH I think price shouldn't get below this consolidation because there's inefficiency above it (which is strong and will likely hold when price comes down to it without SFP/MSB at highs).
So the SL is the low of this consolidation.
And the entry will be the downcandle after inefficiency.
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If price doesn't go down further and makes a HH instead I don't really know what to do. I then have to see how price develops again.
But a 1D candle close through the level doesn't mean that price is not 'allowed' to get back and close below this level (only for BTC, altcoins I don't know: Doge would argue otherwise for example). It is allowed to and the reason why this should be kept in mind is because there is a clean level created (blue circle).
But the presence of a clean level doesn't necessarily mean that the level will get hit. It will depend on how LTF PA develops at the high which we will get into below.
------------------------------------------------------------------------------------
If price hits the current highest high, making a new HH, then the LTF lowest low which created this new HH will be the new HL and if price gets below this HL then there's a chance price will hit the clean level.
If price doesn't hit the current highest high but goes down instead, then the clean level likely won't be hit.
------------------------------------------------------------------------------------
But... we want the trade, what will be the trade?
I'm hesistant of the right SL: what's that consolidation inbetween before pump all about? Could price get below this or not? If not, then the right SL is the low of this consolidation.
If price doesn't make a new HH I think price shouldn't get below this consolidation because there's inefficiency above it (which is strong and will likely hold when price comes down to it without SFP/MSB at highs).
So the SL is the low of this consolidation.
And the entry will be the downcandle after inefficiency.
------------------------------------------------------------------------------------
If price doesn't go down further and makes a HH instead I don't really know what to do. I then have to see how price develops again.
עסקה פעילה
Candle close through entry-level is invalidation.העסקה בוטלה באופן ידני
Trade invalidated. -0.15R as I entered 2R.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.