Potentially could see a move to the downside if BTCUSD fails to break to new highs.
The bat patterns utilises an extremely small stop loss , entry being at the 88.60% of XA and a stop loss of 100% XA.
The pattern shown also possesses an ideal 200% BC projection.
The bat patterns utilises an extremely small stop loss , entry being at the 88.60% of XA and a stop loss of 100% XA.
The pattern shown also possesses an ideal 200% BC projection.
Trade active
We can see on the hourly and 4 hour timeframes the initial price reaction on the 88.60% then a deeper retest. This further gives me confidence in this particular pattern. outlined on the chart we have two targets 2R and 4R, 50% of the trade will be closed at 2R and stop moved to entry creating a risk free position.Trade active
50% of position has been closed and stop-loss updated to entry. A further 50% will be closed at 4R if and when it gets there.Trade closed manually
Stopped at entry , ELON loves the BTC
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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.