The trade was based on a bullish breakout following a strong structure shift (Change of Character - CHoCH). Key Levels Identified: Entry: $98,537.03 Stop Loss (SL): Below recent support at $98,418.90. Take Profit (TP): $98,724.32.
Execution & Result:
The price hit the target, yielding a profit of $187.29 on a 1.00 lot size. Risk/Reward ratio: 1.86, adhering to disciplined trade management.
📊 Key Takeaway:
Identifying CHoCH and BOS (Break of Structure) levels provided clear trade opportunities. Discipline and proper risk management were crucial for executing this trade successfully.
BTCUSD Every trader experiences losses; it’s a natural aspect of the market. Instead of dwelling on them, channel your energy into refining your strategy. Use your losses to build resilience and enhance your decision-making skills.
BTCUSD Trade Idea
Buy Setup:
Entry: 92,257 Stop Loss: 91,957 (-300 points) Take Profit 1: 92,757 (+500 points) Take Profit 2: 93,257 (+1000 points)
Risk: Reward = 1:1.67, 1:3.33
Reason for Entry:
Price at key Fibonacci support level Strong historical support zone Positive momentum structure Clear invalidation level for stop loss Multiple resistance levels align with take profit targets
Note: This is a technical analysis-based trade setup. Always manage your risk and position size according to your trading plan.
Trade management is crucial:
Monitor price action at take profit levels Trail stops once first target is reached Exit if market structure changes Consider partial profit booking at TP1
Remember: No trade setup guarantees success. Always use proper risk management.
🏆BTCUSD 20Nov24 Daily Analysis based on Main Key Levels
Daily Current Market Price (DCMP): 92,609
🔶Key Resistance Levels:
102,013 96,806 93,710 93,590 94,608 96,061
🔶Key Support Levels:
92,257 90,804 89,906 88,453 83,176 79,960 74,753
🔶Swing Levels:
Swing High: 93,547 Swing Low: 66,778
Trade Recommendations:
🔶Sell Trade:
Entry: 93,590 Stop Loss: 94,090 (+500 points) Take Profit 1: 92,590 (-1000 points) Take Profit 2: 91,590 (-2000 points)
Risk: Reward = 1:2, 1:4
🔶Buy Trade:
Entry: 88,383 Stop Loss: 87,883 (-500 points) Take Profit 1: 89,383 (+1000 points) Take Profit 2: 90,383 (+2000 points)
Risk: Reward = 1:2, 1:4
Market Summary:
Current price at 92,609 shows consolidation Strong resistance cluster around 93,590-94,608 Multiple support levels near 90,804-92,257 Price trading within established swing range (93,547-66,778)
Both trade setups offer favorable risk-reward ratios with clear stop loss levels
BTCUSD 🏆In trading, every loss brings an opportunity to reflect and improve. Use this time to reassess your strategy and mindset. Remember, the best traders are those who learn to navigate losses with grace and determination.
🔶BTCUSD 19Nov24 Daily Analysis based on Main Key Levels
🔶Daily Current Market Price (DCMP): 91,747
Swing High: 93,547 Swing Low: 66,778
🔶Support Levels:
88,383 83,176 79,960 74,753 89,389 88,455 86,941
🔶Resistance Levels:
93,590 96,806 102,013 94,864 93,351 92,416
Key Level: 88,383-90,903
Trade Recommendations:
🔶Swing Buy Trade:
Entry: 88,383 Stop Loss: 83,176 Take Profit 1: 93,590 Take Profit 2: 96,806
🔶Swing Sell Trade:
Entry: 93,590 Stop Loss: 96,806 Take Profit 1: 88,383 Take Profit 2: 83,176
Analysis Summary: Current price (91,747) is positioned between key levels 93,590 and 88,383, showing a strong momentum. The recent swing high at 93,547 and swing low at 66,778 demonstrate a significant upward trend, with current price action maintaining strength near the upper range of recent price action.
BTCUSD 💠In trading, every loss brings an opportunity to reflect and improve. Use this time to reassess your strategy and mindset. Remember, the best traders are those who learn to navigate losses with grace and determination.
🔷Analyzing Gold With Fibonacci Tools For Swing Trading
Trading Guidelines Current price (91,685) is between Daily R1 and R2 Strong resistance cluster near 92,000-92,100 Key support at Daily Pivot (89,062) Maintain strict stop losses as provided Consider scaling out at each target level
Risk Management Notes Use maximum 1% risk per trade Trail stops after first target hit Monitor price action at pivot levels Consider market volatility before entry Watch for breakout/breakdown scenarios
Short Reason for Entry: Gold is approaching a strong resistance zone near 2588, which aligns with the 50% Fibonacci retracement level of the recent upward move from 2450 to 2630. The price has struggled to break above this level multiple times, indicating strong resistance.
Additionally, the RSI is showing overbought conditions, suggesting that the bullish momentum is weakening. With this combination of technical resistance and waning momentum, the likelihood of a price reversal to the downside increases, making this a suitable point to enter a short position.