Hello, everyone!
My last call with the head & shoulders pattern was quite successful. Since there I found the downtrend weakness only today.
Look at the 1h timeframe
BTCUSDT price chart. We can see that the first up fractal which has been overcame is located at $21717. I opened long trade with the very tight stop loss at $21639. This trade is risky because the new uptrend still has not been fully completed. The Awesome oscillator is aslo gaining the momentum right now which is the another one bullish confirmation.
What is potential target? We have the imbalance candle which has started this dump. Price has the magnet level at 50% of this imbalance. Therefore the target is $22200.
Best regards, Ivan
________________________________________________________________________________________________
If you like my trade ideas, please smash the boost button to stimulate me make more quality analytics!
My last call with the head & shoulders pattern was quite successful. Since there I found the downtrend weakness only today.
Look at the 1h timeframe
BTCUSDT price chart. We can see that the first up fractal which has been overcame is located at $21717. I opened long trade with the very tight stop loss at $21639. This trade is risky because the new uptrend still has not been fully completed. The Awesome oscillator is aslo gaining the momentum right now which is the another one bullish confirmation.What is potential target? We have the imbalance candle which has started this dump. Price has the magnet level at 50% of this imbalance. Therefore the target is $22200.
Best regards, Ivan
________________________________________________________________________________________________
If you like my trade ideas, please smash the boost button to stimulate me make more quality analytics!
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Trade smarter with:
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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.