STRBTC Short (Swing Trade)
We are in overall buyer’s territory on the daily timeframe after we breached the green line. After we breached the orange line we are in sellers territory, the price is ranging for a while between the orange line and top of the previous range. I could see buyers are completely dead at the moment and sellers might switch. I have two targets set so, that price can reach that target from left 0.00000737 can be the 1st target and 0.00000527 can be 2nd target but I couldn’t able to confirm the second target as I could see few landmines after seeing the price action around (Below blue line I can confirm the next target). Risk Management is must kindly follow it.
Entry: 0.00000895
TP 1: 0.00000737; TP 2: 0.00000529
Stop loss: 0.00000991
Position Size: 1% Risk on your capital/ 0.96
Risk/Reward (TP 1): 1:3, Risk/Reward (TP 2): 1:8 So, High RR.
If TP 1 is hit then we will be at 21% profit.
If TP 2 is hit then we will be at 69% profit.
Buy from Sellers and Sell from Buyers.
We are in overall buyer’s territory on the daily timeframe after we breached the green line. After we breached the orange line we are in sellers territory, the price is ranging for a while between the orange line and top of the previous range. I could see buyers are completely dead at the moment and sellers might switch. I have two targets set so, that price can reach that target from left 0.00000737 can be the 1st target and 0.00000527 can be 2nd target but I couldn’t able to confirm the second target as I could see few landmines after seeing the price action around (Below blue line I can confirm the next target). Risk Management is must kindly follow it.
Entry: 0.00000895
TP 1: 0.00000737; TP 2: 0.00000529
Stop loss: 0.00000991
Position Size: 1% Risk on your capital/ 0.96
Risk/Reward (TP 1): 1:3, Risk/Reward (TP 2): 1:8 So, High RR.
If TP 1 is hit then we will be at 21% profit.
If TP 2 is hit then we will be at 69% profit.
Buy from Sellers and Sell from Buyers.
Trade closed: stop reached:
POST ANALYSIS:
It was a bit little early entry that I took to do a short waited to fade out the momentum when the momentum died completely I entered the trade I would have waited for few more candles to close then enter the trade. It was a channel breakout and touched the recent resistance. As I did a counter-trend trade I took smaller position size and Risk management saved me to get out of the trade with a small loss.
It was a bit little early entry that I took to do a short waited to fade out the momentum when the momentum died completely I entered the trade I would have waited for few more candles to close then enter the trade. It was a channel breakout and touched the recent resistance. As I did a counter-trend trade I took smaller position size and Risk management saved me to get out of the trade with a small loss.
