TF strategy: Parallel Channel in the BTCUSD
- The pair BTCUSD corresponds to the price of the bitcoin vs the US dollar
- A channel is a graphic pattern that connects the maximum and minimum prices of an action over a period of time.
- In the bearish channel the lines have a downward slope, indicating a downward trend in the price
Temporality: 1 day
1. Within a channel, the operations open betting that the price remains within it. Therefore, in this channel we must wait for the price to bounce off the upper trend line to open a short trade.
2. This short operation can be opened at the price of approximately 8,064 with a stop loss close to 9,551 and a profit in 5,507 approximately, close to the lower trend line
3. The risk-reward ratio for this operation is 1.72
- The pair BTCUSD corresponds to the price of the bitcoin vs the US dollar
- A channel is a graphic pattern that connects the maximum and minimum prices of an action over a period of time.
- In the bearish channel the lines have a downward slope, indicating a downward trend in the price
Temporality: 1 day
1. Within a channel, the operations open betting that the price remains within it. Therefore, in this channel we must wait for the price to bounce off the upper trend line to open a short trade.
2. This short operation can be opened at the price of approximately 8,064 with a stop loss close to 9,551 and a profit in 5,507 approximately, close to the lower trend line
3. The risk-reward ratio for this operation is 1.72