#2. BTC BUY (SHORT TERM SWING TRADE)

11 Şub 2023

Confluences to Enter a Buy

1. Multiple psychological level bounces (5)
2. Doji's on psychological level indicating indecision loss of momentum
3. Falling wedge breakout

This setup looks too obvious to enter right now. I think we will get a price spike to take out 1 or 2 Lower Highs (21,800 & 21,900) and then a drop in price to take out Stop Losses setup up at 21,480 and possibly lower. Long Term I am still bearish on BTC, but I think price will need to retest consolidation breakout at the 22,600 psychological level before prices can move lower.

I have my entry setup as a Buy Limit at 21,480 and stop loss setup at 21,147 well after our psychological level and additional space to avoid getting wicked

3 to 1 Risk to Reward

Timeline for this trade is 3 to 7 days

12 Şub 2023

Not

Both Lower Highs were taken out and we now have drop in price moving toward our Buy Limit for an entry. Patience, let price come to us.

13 Şub 2023

Not

Buy Limit activated for an entry at 21, 480

14 Şub 2023

İşlem elle kapatılmış

With CPI approaching the markets tend to do the unexpected. Trade closed manually in profit.

15 Şub 2023

İşlem kapandı: hedefe ulaştı

Even though we closed early on this one with less profit, I considered this trade a win. If it wasn’t for CPI we would have stay in the trade. This one played out just as we thought