Optimal Scenario for Long setups on BITCOIN by ThinkingAntsOk

Optimal Scenario for Long setups on BITCOIN by ThinkingAntsOk

Use this as a guide to develop your setup.

Today, we will share what we consider will be a High-Quality setup on BTC/USD from a Technical Perspective.

a)Currently, the price is on a Falling Wedge Pattern (continuation Structures)
b)what we are waiting is a break out of the structure
c)If that happens we will wait for a Throw-back
d)when b) and c) is completed we will set our orders as shown on the chart

why do we develop our setup like this?

Because trading a direct breakout of a Daily Structure can lead to a lot of fake outs. That’s the reason we will wait for the price to be outside the falling wedge and then a Throw-back (a counter-movement) IF the price fails on keep falling that will be the final evidence that the demand is on control and we will expect the beginning of a new bullish trend with our order above the first attempt of breakout.

NEVER RISK MORE THAN 1%-2% PER TRADE.

Published at Mon, 13 Jan 2020 12:08:47 +0000

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