BSVBTC - MBA Trading Academy TA Fridays 10/4/20Price is pushing into the 61.8% resistance level on the daily and has found a little consolidation channel. If we can break above this channel, I'd long to the next key level (78.6% on the daily), possibly taking some profit along the way if we come into resistance earlier.
If we form market structure breaking above the channel, my stop loss will be just below the most recent low.
If stop loss has to be too big (making less than 2:1 RR), or if we break below the channel, I won't enter this trade.
This could take a few days to break above the channel, and may stay in the trade for up to a week.
