Your trading setup suggests a short position on Bitcoin (BTC/USD) based on the chart pattern. Here’s the breakdown:
Technical Analysis:
The chart shows a symmetrical triangle formation, which often signals a breakout in either direction.
The projected move appears to be a breakdown (bearish).
A measured move from the widest part of the triangle suggests a drop towards 83,305.
Trade Setup Details:
Entry: 84,300
You're entering near the upper resistance level of the triangle.
Target: 83,300
This aligns with the expected drop after the triangle breakdown.
Stop Loss: 84,900
Placed above recent highs to limit risk in case of a breakout to the upside.
Risk-Reward Ratio:
Risk: 600 pips (84,900 - 84,300)
Reward: 1,000 pips (84,300 - 83,300)
Risk-to-Reward Ratio: ~1:1.67, which is decent for a short trade.
Final Thoughts:
A breakdown from the triangle pattern would confirm this trade.
Watch for increased volume on the breakdown for stronger confirmation.
If price moves above 84,900, it invalidates the bearish thesis, so stopping out is a good risk management strategy.
Would you like any refinements to this setup?
Technical Analysis:
The chart shows a symmetrical triangle formation, which often signals a breakout in either direction.
The projected move appears to be a breakdown (bearish).
A measured move from the widest part of the triangle suggests a drop towards 83,305.
Trade Setup Details:
Entry: 84,300
You're entering near the upper resistance level of the triangle.
Target: 83,300
This aligns with the expected drop after the triangle breakdown.
Stop Loss: 84,900
Placed above recent highs to limit risk in case of a breakout to the upside.
Risk-Reward Ratio:
Risk: 600 pips (84,900 - 84,300)
Reward: 1,000 pips (84,300 - 83,300)
Risk-to-Reward Ratio: ~1:1.67, which is decent for a short trade.
Final Thoughts:
A breakdown from the triangle pattern would confirm this trade.
Watch for increased volume on the breakdown for stronger confirmation.
If price moves above 84,900, it invalidates the bearish thesis, so stopping out is a good risk management strategy.
Would you like any refinements to this setup?
Trade active
Trade closed: target reached
my target 50 pips runningNote
my targrt 100 is hit
t.me/targing82
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XAUUSD + BTC Daily 5-6 high accurate signals, World Best community Join Here,
✅BTC
✅GOLD
✅EURUSD
✅USDJPY
✅GBPUSD
Telegram channel
t.me/targing82
t.me/targing82
👇👇👇👇
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.
t.me/targing82
XAUUSD + BTC Daily 5-6 high accurate signals, World Best community Join Here,
✅BTC
✅GOLD
✅EURUSD
✅USDJPY
✅GBPUSD
Telegram channel
t.me/targing82
t.me/targing82
👇👇👇👇
XAUUSD + BTC Daily 5-6 high accurate signals, World Best community Join Here,
✅BTC
✅GOLD
✅EURUSD
✅USDJPY
✅GBPUSD
Telegram channel
t.me/targing82
t.me/targing82
👇👇👇👇
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.