BTCUSD SHORT >Classical BULL TRAP >Bulls should have tight SL
Updated
TF- Multi Weekly
BIAS - Bearish
ENTRY - 8200
SL - 10400
TP - 2300 (Intermediate TP - 5500(Grade AA), 4300( Gr AAA ), 2800 (Gr AA) 2300-1900( Gr AAA ))
RR - 2.9
Lets WnWatch :)
BIAS - Bearish
ENTRY - 8200
SL - 10400
TP - 2300 (Intermediate TP - 5500(Grade AA), 4300( Gr AAA ), 2800 (Gr AA) 2300-1900( Gr AAA ))
RR - 2.9
- Some people have been asking me about this move on smaller time frames like D1 & Weekly (No i don't do that M1, M5 nonsense. Find some other instrument for that, if you want to live financially well (and at ease) in long term :) ) Short term yes, its indeed a bull trap and bit of confirmation would be closing levels of W1 and MN charts.
- More confirmation of this being a TRAP would be more faster rise and spike up to sub-10k levels like 8900, without any retrace. In suh scenario more shorts can be added till SL levels, if within your risk appetite. R:R ratio will get more better :)
- Additional LVL added. 2800 (spike below previous lows) is a good Grade AA SUP LVL for picking up longs in larger TF
- For larger picture and more important LVL's, see the related 'IDEA'
Lets WnWatch :)
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