Support Lines (SL): represented by the horizontal white dots.
200 Simple Moving Average (SMA): represented by the purple trendline.
I trade horizontal support lines made from a TD sequential trend.
Trades are based around the 4-hour support lines, all other support lines from various time frames are used to manage the overall trend and evaluate the price action at that level.
I’m able to present long and short entry positions but whether you are able to enter those positions, manage your risk level, and close in the green is up to you.
Usually I front run the SL but that also reduces my edge, making me take on more risk to but allows me to catch the price if it does not fully reach the SL
Red Ray: Price where I begin accumulating shorts until the price closes above the white SL, in which case I become long and close my short positions.
Green Ray: Price where I begin accumulating longs until the price closes below the white SL, in which case I become short and close my long positions.
200 Simple Moving Average (SMA): represented by the purple trendline.
I trade horizontal support lines made from a TD sequential trend.
Trades are based around the 4-hour support lines, all other support lines from various time frames are used to manage the overall trend and evaluate the price action at that level.
I’m able to present long and short entry positions but whether you are able to enter those positions, manage your risk level, and close in the green is up to you.
Usually I front run the SL but that also reduces my edge, making me take on more risk to but allows me to catch the price if it does not fully reach the SL
Red Ray: Price where I begin accumulating shorts until the price closes above the white SL, in which case I become long and close my short positions.
Green Ray: Price where I begin accumulating longs until the price closes below the white SL, in which case I become short and close my long positions.
Comment:
Short presented here on the 1 hour
BTC defending this area well so far