Symbol: BTCUSD
Higher Time Frame (HTF): Weekly
Entry Time Frame (ETF): Daily
Strategy: Daily demand at ETF PBL
Status: Waiting
R: 0
Before
In the BTCUSD weekly chart, a significant demand zone, marked by historical buying interest, was bypassed by a rapid price surge, creating an "inefficiency" where the market didn't fully interact with potential buyers; while the price has attempted a return, it hasn't thoroughly retested this zone, leaving this inefficiency, thus a future, deeper retracement to this demand zone is anticipated to trigger renewed buying pressure, presenting a potentially favourable entry point for traders expecting a price rebound.
Narrative
Anticipating a continued price rebalancing of the existing inefficiency, I would like to execute a limit buy order at the nearest daily demand zone, which exhibits a parent/child relationship with other demand levels; although lower demand zones exist, this proximal zone is my primary focus due to its immediate relevance to the current price structure.
Emotions: None.
Management: None.
Notes: None.
Higher Time Frame (HTF): Weekly
Entry Time Frame (ETF): Daily
Strategy: Daily demand at ETF PBL
Status: Waiting
R: 0
Before
In the BTCUSD weekly chart, a significant demand zone, marked by historical buying interest, was bypassed by a rapid price surge, creating an "inefficiency" where the market didn't fully interact with potential buyers; while the price has attempted a return, it hasn't thoroughly retested this zone, leaving this inefficiency, thus a future, deeper retracement to this demand zone is anticipated to trigger renewed buying pressure, presenting a potentially favourable entry point for traders expecting a price rebound.
Narrative
Anticipating a continued price rebalancing of the existing inefficiency, I would like to execute a limit buy order at the nearest daily demand zone, which exhibits a parent/child relationship with other demand levels; although lower demand zones exist, this proximal zone is my primary focus due to its immediate relevance to the current price structure.
Emotions: None.
Management: None.
Notes: None.
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.