BTC Short Setup (15min SFP candle)

What more can I say? Look at that 15min SFP candle of the relevant level.

Note

Short setup (clean 15min SFP of relevant level)

SL = $100112.4

Invalidation = top of SFP candle

Probably entering after some candles below structure with new SL current invalidation.

Note

re-entering*

Note

Invalidation = 15min candle close above level*

Trade closed manually

Imagine getting smoked like that. -0.32R

The only thing I see for a reason right now is: it wasn't the main level which should've been SFP'ed. The main level is the 3rd february high.

That doesn't mean that this couldn't be the valid level for the SFP, but I guess you can now say that you need more conviction for it to be the case. I think you get this conviction when price closes below the structure (after the SFP), showing that there's way less opportunity for price to get back to the SFP level. That tdidn't happen here.

What else to say?

You should watch out for how price gets to the level. Here price comes close to the level but then loses 'momentum' and starts consolidating = going sideways = more horizontality and less verticality. For a short this is good. But if price doesn't lose momentum before hitting the level, then entering the trade after this SFP candle would be a mistake (way higher chance of price hitting the level).

For now... if price doesn't push to the 3rd february main level I'm eating my shoe.

EyyJasper

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EyyJasper