Band ProtocolLong
Band/USD Bullish Trend Continuation Setup
Updated
Hi there. Beginning trader and technical/fundamental analyst, sharing a bullish trend continuation trade learned from the TRI School for Trader Development, my alma mater. *This is posted for entertainment purposes only, not trading or financial advice.
Reasons for trade:
1. (Location) This is a Bullish BoT setup. It retraced more than .33 but less than .66 fib.
2. (Structure)Double bottoms (W) in price action, obv, Willy
and an unconfirmed one in MACD which is positive.
3. (Momentum) Increasing buy volume (green bars), postive Moving Averages cross in OBV and Willy.
4. Some support on Volume Profile
5. Moving averages confluence and price over 30SMA.
6. 3 Lower lows to act as support for price if trend slows or starts to break down.
Risk/Reward 3:1
BANDUSD
Reasons for trade:
1. (Location) This is a Bullish BoT setup. It retraced more than .33 but less than .66 fib.
2. (Structure)Double bottoms (W) in price action, obv, Willy
and an unconfirmed one in MACD which is positive.
3. (Momentum) Increasing buy volume (green bars), postive Moving Averages cross in OBV and Willy.
4. Some support on Volume Profile
5. Moving averages confluence and price over 30SMA.
6. 3 Lower lows to act as support for price if trend slows or starts to break down.
Risk/Reward 3:1
BANDUSDTrade active
Forgot to mention: I appreciate any feedback or alternative views, please share if you have them. Also, large, sudden moves by BTC could, and often times does, invalidate analysis.Trade active
And we are off to the races...Trade active
Getting some wind under its wings.Trade active
Cup in handle sinide cup in handleTrade active
Trade still very much in play.Trade closed: stop reached
Sold @ scratch
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