BTCUSD - Bullish breakout setup 4HR
Setup: There was breakout attempt a few candles ago, which didn’t trigger the trade or follow through, I’ll have to wait and see see if we get another attempt. For now price is holding above the long term MTF support level (from the black crosses a while back) which is a good sign and gives me a higher confidence in the breakout trade. If we start closing below this level, I’ll have to re-evaulate the situation.
Trigger: Price breaks out of breakout level.
Stop: Stop is below the green trailing stop dots. These will trail upwards as price moves.
Target: the black MTF crosses are the levels where multiple timeframes agree on resistance. These are the levels I’m looking at for price to reach and take (partial) profit.
If you enjoy these setups and analysis please like and follow, it’s the easiest way to support my work and spread the word to other traders :)
if you want to tryout the indicators and strategy, send me a pm and I’ll get you set up.
Stay calm, and happy trading!
Trigger: Price breaks out of breakout level.
Stop: Stop is below the green trailing stop dots. These will trail upwards as price moves.
Target: the black MTF crosses are the levels where multiple timeframes agree on resistance. These are the levels I’m looking at for price to reach and take (partial) profit.
If you enjoy these setups and analysis please like and follow, it’s the easiest way to support my work and spread the word to other traders :)
if you want to tryout the indicators and strategy, send me a pm and I’ll get you set up.
Stay calm, and happy trading!
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