Hello, everyone!
Let’s continue our trading journey. Yesterday we had the successful short trade on Bitcoin, but tonight it gave us the early reversal signal, that’s why I decided to close the trade in solid profit and wait what the market will give us.
Let’s take a look at the 1h time frame
BTCUSDT chart. We can see the bullish reversal bar at the very bottom. This is the simply the bullish hammer with the large angle with the Williams Alligator red line. This was the first valid signal that the downtrend is weakening right now. Moreover the BTC has already created the first fractal above the red line. If it will be able to overcome this level at $22998 we can use the long trade setup pointed out on the chart. In case of losing support at $22738 we can open the new short trade because the potential trend reversal is not valid anymore. Anyway we should not try to predict the future, just trade the current market situation.
Best regards, Ivan
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If you like my trade ideas, please smash the boost button to stimulate me make more quality analytics!
Let’s continue our trading journey. Yesterday we had the successful short trade on Bitcoin, but tonight it gave us the early reversal signal, that’s why I decided to close the trade in solid profit and wait what the market will give us.
Let’s take a look at the 1h time frame
BTCUSDT chart. We can see the bullish reversal bar at the very bottom. This is the simply the bullish hammer with the large angle with the Williams Alligator red line. This was the first valid signal that the downtrend is weakening right now. Moreover the BTC has already created the first fractal above the red line. If it will be able to overcome this level at $22998 we can use the long trade setup pointed out on the chart. In case of losing support at $22738 we can open the new short trade because the potential trend reversal is not valid anymore. Anyway we should not try to predict the future, just trade the current market situation.Best regards, Ivan
________________________________________________________________________________________________
If you like my trade ideas, please smash the boost button to stimulate me make more quality analytics!
Trade active
Trade has been activated!Note
Now we have the new stop-loss level at $23077. Notice that even if the price will hit it, we are going to earn small profit. Trade closed manually
Trade was closed yesterday at the invalidation level ($23077). I have not opened ony trades overnight, now I am searching for the new trading opportunities.
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Related publications
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.
Access private PineScript strategies and turn alerts into orders with easy-to-set up bots
Trade smarter with:
skyrexio.com
Trade smarter with:
skyrexio.com
Related publications
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.