$BTC short idea Plan and Trigger
This is not a prediction this is a plan..
If this happens do this..
The plan here is IF BTC 1. breaks below PWO - Previous Week Open, 2.Breaks below rising Trendline, 3.Breaks below R2-H (Range 2 High(thats the trigger to go short with Targets marked on chart.
Target 1 = R1-L (Range 1 Low)
Target 2 = R2-Mid (Range 2 Mid)
Notice the inefficient and fast move up noted on the chart. these usually get filled so if we trade in to this candle range i suspect a fast down move to follow.
If this happens do this..
The plan here is IF BTC 1. breaks below PWO - Previous Week Open, 2.Breaks below rising Trendline, 3.Breaks below R2-H (Range 2 High(thats the trigger to go short with Targets marked on chart.
Target 1 = R1-L (Range 1 Low)
Target 2 = R2-Mid (Range 2 Mid)
Notice the inefficient and fast move up noted on the chart. these usually get filled so if we trade in to this candle range i suspect a fast down move to follow.
Trade closed: target reached:
All targets inhaled
Short win.
Missed the trigger.
somtime these just dump and you have to get involved fast with a wide stop as they dont giv3e you the retrace and let you in.