3 Days Waiting / Setup : Fakeout / Daily TF 📉

Apr 25, 2023

Have been waiting patiently for Shorts to Setup on BTC. I'm not totally convinced of this rally as you can observe. This trade is in anticipation that the Daily timeframe will respect the Daily and Weekly Levels in Between 28 to 28.5K. Although this retest of our Daily Level looks quite daunting, selling into strength shouldn't be too much of an issue because of the amount of orders at this level previously 28,300. It's worth a shot given the RR and the previous Weekly Engulfing Candle. I typically stick to scalping but this Fakeout Looks clear as day and so I have no issue risking some profits with reduced risk and attempting something different then the usual.

Apr 26, 2023

Note

Price has hit SL and will reassess more Shorts, may be too early. If candles close and appear to be doing a break and retest then may change bias back to 31K.