BitcoinUpdated Try to scalp a little, but prepare for HUGE spike up!
ok the red candles seem to be slowing down
we see huge selling volume, with relatively lesser price movement
if you zoom in to H1, you can see a channel forming.
so if you want to scalp, you can aim to sell at top of the upper trendline, and buy on the lower trendline.
NEVER buy in the middle of the channel, 100% you will fail, just like i did many times. when the price is in the middle of the channel, it is impossible to know where it will go.
meanwhile, we are preparing to catch the huge spike up. ( DONT BUY at this level, the risk to reward is too lousy, its not going to be a good trade )
we see huge selling volume, with relatively lesser price movement
if you zoom in to H1, you can see a channel forming.
so if you want to scalp, you can aim to sell at top of the upper trendline, and buy on the lower trendline.
NEVER buy in the middle of the channel, 100% you will fail, just like i did many times. when the price is in the middle of the channel, it is impossible to know where it will go.
meanwhile, we are preparing to catch the huge spike up. ( DONT BUY at this level, the risk to reward is too lousy, its not going to be a good trade )
Note
Thats why it never pays to scalp. If we had tried to do some scalping in that channel that we identified, our small profits would evaporate very quickly.So what we are seeing now on h4 is that there was some good accumulation.
2 greenbars, followed by 2 red bars with small volume. This means buyers are coming in.
Anyway the buying force is stronger now. So let's just find a good price to go long
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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.