Hi everyone, another BTC set-up I'm looking to take!
I will be using the 1D chart for higher time frame context first, to explain the execution of the set-up on the 1h.
1D:
The most important zone over the past month has turned out the be the bearish Daily OrderBlock at around 6800, doing a tremendous job protecting the empty space (with little to no resistance) above it.
A couple of days ago we reached for liquidity above the June 19 high, while respecting the red zone, giving us a violent reaction down.
We are currently approaching a very important bullish Daily Breaker at 6129-6074, with the invalidation low coming in at 5980.
I expect this breaker to protect the liquidity under the 5700 lows (market in green).
Moreover, this zone has confluence with, and provides an optimal trade entry (fibonacci, Daily chart 2)
1h:
First of all, I'd like to provide a recap of my TV post that wasn't taken because I didn't get the entry I wanted. (first chart)
Although the last trade idea didn't give us the entry we we're looking for, the direction of the move was well founded and played out. The short entry we were looking for on our last trading idea, will provide a great target for the long trading idea today.
Now, what is the set-up I'm presenting today?
I think the initial low set has liquidity underneath it that will get raided, providing us a great entry at 6100, which is a 1h bullish breaker, inside a Daily breaker.
I've made a rough visualisation of my trade idea with the pink arrows.
Exact bids:
6110
6096
6005 (as close to my invalidation level as possible for maximum R)
I will be take profit at the following areas:
-First trouble area (1h level at 6255)
-Bearish 1h OB at 6325
-Liquidity above 6400
-Finally Daily bearish OB at 6800
This idea will be invalidated with a break of the Daily bullish breaker at 5980 therefore my stop is at:
5945, or a 4h close below 5980.
Conclusions:
Great long entry at 6100
If Daily breaker doesn't hold, we'll likely see a draw upon the 5700 lows
Feel free to leave a comment with questions or thoughts, I'm always up to help or discussion!
Safe Trading! - @NielsvH
I will be using the 1D chart for higher time frame context first, to explain the execution of the set-up on the 1h.
1D:
The most important zone over the past month has turned out the be the bearish Daily OrderBlock at around 6800, doing a tremendous job protecting the empty space (with little to no resistance) above it.
A couple of days ago we reached for liquidity above the June 19 high, while respecting the red zone, giving us a violent reaction down.
We are currently approaching a very important bullish Daily Breaker at 6129-6074, with the invalidation low coming in at 5980.
I expect this breaker to protect the liquidity under the 5700 lows (market in green).
Moreover, this zone has confluence with, and provides an optimal trade entry (fibonacci, Daily chart 2)
1h:
First of all, I'd like to provide a recap of my TV post that wasn't taken because I didn't get the entry I wanted. (first chart)
Although the last trade idea didn't give us the entry we we're looking for, the direction of the move was well founded and played out. The short entry we were looking for on our last trading idea, will provide a great target for the long trading idea today.
Now, what is the set-up I'm presenting today?
I think the initial low set has liquidity underneath it that will get raided, providing us a great entry at 6100, which is a 1h bullish breaker, inside a Daily breaker.
I've made a rough visualisation of my trade idea with the pink arrows.
Exact bids:
6110
6096
6005 (as close to my invalidation level as possible for maximum R)
I will be take profit at the following areas:
-First trouble area (1h level at 6255)
-Bearish 1h OB at 6325
-Liquidity above 6400
-Finally Daily bearish OB at 6800
This idea will be invalidated with a break of the Daily bullish breaker at 5980 therefore my stop is at:
5945, or a 4h close below 5980.
Conclusions:
Great long entry at 6100
If Daily breaker doesn't hold, we'll likely see a draw upon the 5700 lows
Feel free to leave a comment with questions or thoughts, I'm always up to help or discussion!
Safe Trading! - @NielsvH