BTCUSDT - Consolidation (Sell)
Hello traders!
Today I did an analysis on the lower TF because we are in a sell position from yesterday and it is necessary to check it to see if the price starts to turn against us. We have a situation at M15 that encourages price to consolidate, but I'm leaning more toward selling opportunities, so keep in mind that we may see consolidation before further downtrend continues.
If you are looking for an opportunity to enter, definitely try to sell in the marked areas to get the best RRR.
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
Today I did an analysis on the lower TF because we are in a sell position from yesterday and it is necessary to check it to see if the price starts to turn against us. We have a situation at M15 that encourages price to consolidate, but I'm leaning more toward selling opportunities, so keep in mind that we may see consolidation before further downtrend continues.
If you are looking for an opportunity to enter, definitely try to sell in the marked areas to get the best RRR.
IMPORTANT WARNING:
---------------------------------------------------------------------------------------------------------------------------------------------------------
Rebounds from marked zones created by trading positions of large institutions such as banks or various financial funds may not create new HH or LL and therefore it is very important to collect partial profits at least according to these rules. This will help you to keep your equity curve constantly growing and protect your funds from big drops if the price unexpectedly turns against you. But the decision is only in your hands.
I personally prefer setting up multiple TPs , here's an explanation:
1) 1:1 allows you to take a 50% position and thus secure a balance against loss in case the market turns
2) 2-5 :1 means profit (25% trade volume ), after reaching this TP I move SL to BE
3) 5-10 :1 means bonus money with rest of trade volume (again 25%)
Money is lying on the ground, just bend down for it! Be patient and wait for the price to reach a strong zone and open a position!
BTC is finally in the sell zone, I am waiting for confirmation on the lower TF and I will sell.