BTCUSD - Hedge Fib Short Setup
Premise:
1. A bearish divergence will be observed on the daily chart near 7037.
2. This retracement upward will occur within two weeks.
3. Volume will decline
Execution:
1. 1:2:3:4 short scale between 7037 and 7144.
2. Stop Loss Cluster at 7428.
3. Target 1 : 6550
4. Target 2 : 6287
Result:
1. A 2.09:1 Trade will complete
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Unfortunately, after 23 consecutive trades, I was stopped out of a position in a two dollar loss yesterday. My win streak of 23 finally ends - it was my longest single run and I will strive for better, risk managed trades.
1. A bearish divergence will be observed on the daily chart near 7037.
2. This retracement upward will occur within two weeks.
3. Volume will decline
Execution:
1. 1:2:3:4 short scale between 7037 and 7144.
2. Stop Loss Cluster at 7428.
3. Target 1 : 6550
4. Target 2 : 6287
Result:
1. A 2.09:1 Trade will complete
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Unfortunately, after 23 consecutive trades, I was stopped out of a position in a two dollar loss yesterday. My win streak of 23 finally ends - it was my longest single run and I will strive for better, risk managed trades.
Note
No beardiv yet. Paying close attention here.
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.
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.