fab-e

BTC Breakout Imminent

Long
fab-e Updated   
BITMEX:XBTUSD.P   Bitcoin
The 4hr RSI and PA shows a clear Parabola Coming down from above, but the Daily PA also has a Parabola beneath it. Volume Decreasing. Range Tightening. Volatility Incoming.

On LTF we are also moving inside of an Ascending Triangle, and inside of a second Mini Parabola. I favor a break of the Parabolic Resistance thus my Bias is Bullish for the upcoming Breakout out of the Apex.

My Stop Loss for this Trading Idea is around 9840 XBT/USD
Comment:
RSI Res and D-Parabola Smashed.
Swing TP1 around 11.2
Swing TP2 around 11.7
Swing TP3 around 12.5
Scalp TP around 10440ish & 10700
Comment:
Stop Loss moved to Breakeven @around 10.1K
Trade closed: stop reached:
Got Stopped out at Breakeven.
Reentered at 9970 Small Size High Leverage Long
If Price bounces I will start to build a kid term short position.
If price fails to bounce and breaks 9970 Support I will look to add a momentom short stop order at 9800
Comment:
Added to long @10040
Watching PA closely for confirmations before adding more
Still bullish until we break and close beneath Daily Parabolic curve
Comment:
Update Currently In Longs from under 10K. I set the SL at 9840 XBTUSD as it didn't break and will go to bed now. After getting stopped out and not taking profits on the fake out I overtraded slightly and took stupid positions.
Fomo is Real. LeRnInG by DoInG TiMe & TiMe aGAiN
Comment:
Played Out! Well
Scalp already closed both TP Targets and Swing is still in Play

I will be looking to buy the dip from here on if the daily holds the breakout price upon closing

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.