BitcoinShort
Parallel Channel BTCUSD
TF strategy: Parallel Channel in the BTCUSD
- The pair BTCUSD corresponds to the price of the bitcoin vs the US dollar
- A channel is a graphic pattern that connects the maximum and minimum prices of an action over a period of time.
- In the bearish channel the lines have a downward slope, indicating a downward trend in the price
Temporality: 1 day
1. Within a channel, the operations open betting that the price remains within it. Therefore, in this channel we must wait for the price to bounce off the upper trend line to open a short trade.
2. This short operation can be opened at the price of approximately 8,064 with a stop loss close to 9,551 and a profit in 5,507 approximately, close to the lower trend line
3. The risk-reward ratio for this operation is 1.72
- The pair BTCUSD corresponds to the price of the bitcoin vs the US dollar
- A channel is a graphic pattern that connects the maximum and minimum prices of an action over a period of time.
- In the bearish channel the lines have a downward slope, indicating a downward trend in the price
Temporality: 1 day
1. Within a channel, the operations open betting that the price remains within it. Therefore, in this channel we must wait for the price to bounce off the upper trend line to open a short trade.
2. This short operation can be opened at the price of approximately 8,064 with a stop loss close to 9,551 and a profit in 5,507 approximately, close to the lower trend line
3. The risk-reward ratio for this operation is 1.72
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.
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.