Trade Setup (2/11/2024) - BTC Short in 4H FVG
1. Setup: Enter a short position at the 0.5 level within the 4-hour Fair Value Gap (FVG), identifying this as a potential resistance area for a bearish move.
2. Entry strategy:
- Target: 1:3 RRR.
- Risk: 1% of account.
- Entry confirmation: Wait for the price to reach the 0.5 level of the 4H FVG and observe bearish signals, such as a reversal candle or rejection wick, before entering.
3. Stop-loss and take-profit:
- Place stop-loss above the upper boundary of the 4H FVG to limit risk.
- Set take-profit at three times the stop-loss distance to maintain a 1:3 RRR.
4. Additional considerations:
- Be aware of any upcoming macroeconomic news or events that could affect BTC's price movement and increase volatility.
- Ensure that price action confirms your bias within the FVG to avoid premature entry.
1. Setup: Enter a short position at the 0.5 level within the 4-hour Fair Value Gap (FVG), identifying this as a potential resistance area for a bearish move.
2. Entry strategy:
- Target: 1:3 RRR.
- Risk: 1% of account.
- Entry confirmation: Wait for the price to reach the 0.5 level of the 4H FVG and observe bearish signals, such as a reversal candle or rejection wick, before entering.
3. Stop-loss and take-profit:
- Place stop-loss above the upper boundary of the 4H FVG to limit risk.
- Set take-profit at three times the stop-loss distance to maintain a 1:3 RRR.
4. Additional considerations:
- Be aware of any upcoming macroeconomic news or events that could affect BTC's price movement and increase volatility.
- Ensure that price action confirms your bias within the FVG to avoid premature entry.
Trade closed: stop reached
Fondera | Data-Driven Trading Excellence
💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
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.
Fondera | Data-Driven Trading Excellence
💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
💰Watch me trade live: youtube.com/@Fonderaio
🚀 Discover actionable strategies: x.com/fonderaio
🌐 Explore my journey: fondera.io
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.