This is a risky one, so please manage your risk accodringlyi0 I think it worth a try.
I believe we're on top of a distribution, so a retest of UTAD looks best for an entry. Multiple orders added into red box.
Note
Locked some profits :
Note
hedgin with a tiny long here, big short remains open btw :
Note
still not looking good, closing the hedge :
Note
lets see if we can have a mini hedge this time :
Note
lets add another 3 R here =) closed the hedge long:
Note
I hold my main short position, but I think we should watch this range for a while. This 1 hr range might be our accumulation zone :
Note
We possibly go back into the range. this is a key level, and I'll explain this on detail later :
Note
for the first half of the week, we might see a weak DXY and stron BTC, but on daily, the market structure is break with a LL, and pullback of this move will be a decision point. are we goin to see a multiple top formed distribution or a regular one ? Lets see :
Note
decision point bounce or die :
Note
so here's another decision point. to call this as a reversal we should gain the green box above:
Trade closed manually
this definetely wants to go higher, so I close my position now for a better entry and less cost
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.