This is another classic 'A' up trade with the price action rule to trade above the 'A' value line (green line) for half the Opening Range (white dots) time to validate a long signal. Yes we are extended on the upside but the signal is setting up clearly. All other resistance is breached above the Daily Pivot range (blue dots) with the Daily Pivot Moving Averages...
This is a classic 'A' up trade. Good risk reward ratio of 3.1:1 Stop loss at 11530.51 and trail your stop once it takes off. Profit target is somewhat open at this point - uncharted territory! Learn more at my site on how to trade this method.
As price has moved through the Pivot Range and the Opening Range, with Pivot Moving Averages pointing up and good separation, this is a clear buy signal. A little premature without the confirmation of 15 minutes for the 'A' value line to give the proper 'A' up signal.
Go long on breakout of Daily Pivot Range and the Opening Range high breach which provides a continuation of uptrend opportunity.
This is a good study in all key indicators aligning for a very low risk trade with huge upside and the risk reward ratio is very good.
An ACD' 'A' up trade setup through the Pivot Range and good 2.0 Risk Reward ratio.
Fortitude trade with the candle piercing, then closing above the Opening Range low. Go long on a break above previous bar high on strength.
This is what I call a Fortitude trade if it were piercing our daily Pivots or Opening Range levels. However, this still looks favorable without these levels in play with a risk reward ratio of 2.18:1 The rule is to go long on a break above the hammer candle high.
The rule is to wait for the close above the A or C value lines. However we do not have A or C value levels to determine an entry point with BTCUSD. Hence we are using the Pivot levels to determine validity of the trade to enter, in this case a close above the Pivot high level.
According to our rules a 'C' trade to go short is in place. Place stops at opposite of the Opening Range. see rules for further clarification.
The 'A' Up trade is established based on our rules. However since we have missed this initial move up, we will look for an entry based on a continuation of the move if the price breaks out above the previous high.
Action to Take: Go Short, enter sell at 130161 stop Take Profit Level: TP1 129615, TP2 129372 Stop Loss Level: 130481 Additional Factors: Timeframe: ~ 24 hours Total Risk of Account Equity: 2% or less