BTCUSD channel support is being tested, possible reversal

12 мар. 2020 г.

Hi guys, if you agree with this analysis, smash LIKE button. BTC price is approaching channel support line accompanied by a big spike in volume. This could mean that at least short term correction to the upside is possible. So, as soon as first green candle forms, I will buy some “green options” on the next 10 candles. I trade “color options” because in volatile markets I do not have to worry about stops getting triggered due to flash crashes or stuff like that. My rules are the same as before.

If you are not familiar with “color options”, ask me in the comments section or join a chat here on tradingview - candle color options.

Rules:

Worst case scenario: if I will lose on 4 candles in a row, I will take my losses and look for a new set-up.

Best case scenario: If I will win on 4 candles in a row, I will gladly take my profits and look for a new opportunity.

I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).

Please follow, like and comment !

12 мар. 2020 г.

Сделка активна

First green candle formed, so I will follow my rules and enter long trades.

12 мар. 2020 г.

Сделка закрыта: достигнута стоп-лосс цена

I am exiting this set-up, I was expecting a rapid correction, but the price went sideways.