A butterfly pattern has formed, all fib requirements have been met, entry
levels, red box have been hit. It's crazy how price moves to these levels.
Take profit zones are TP1 & TP2. ETH/BTC has hit resistance and closed back
below from my previous idea. Let's see what happens
levels, red box have been hit. It's crazy how price moves to these levels.
Take profit zones are TP1 & TP2. ETH/BTC has hit resistance and closed back
below from my previous idea. Let's see what happens
Commentaire:
Spotted this idea late, awaiting some kinda formation around the initial rejection area to enter.
Commentaire:
Price returned for a second touch of the D point in an attempt to trap unexpected buyers. Didn't get my fills in the zone due to taking a conservative approach
Entry: $241.50
SL: $252.00
TP above
Entry: $241.50
SL: $252.00
TP above
Trade fermée manuellement:
While the requirements for this pattern were met, one must realize when a trade has the potential to be invalidated and flip bias as quickly as possible. Managing a trade once executed is an important aspect. Price bounced from a low of $229.50, reclaiming previous support and consolidating on the 1H chart, price then broke the local high at $239.95 and at th is moment I cut the trade for a small profit. At the time of righting price is currently $250.00
On going risk management is key
On going risk management is key