Similar situation on the 5 min chart today on the 1st of December 2021.
Usd is getting stronger week after week. Bitcoin showed a positive sign by breaking the last high. Even if the price does something else other than liquidity grab and making lows on 4 hr I won't be interested.
New market structure new trade out before tomorrow's news are out.
I don't want to get involved before the news
0.1R. one more contributing factor was the overall trend of the market is bullish.
Very nice entry no good reason to scale in
Expecting a Flag facing up down or side ways. Sideways is something I want to avoid.
Minor divergence on RSI. You can execute now or wait for a momentum candle on the 15 min chart. Don't squeeze this trade by a small stop-loss. Let's see in the future how much management this trade requires ahead. Will keep you guys updated! Like-minded traders and traders who are against this trade feel free to add to the comment box. Would be a great...
If you are a break-out trader you can take the trade now. If you want more confirmation then take it near the trend line. Hint: look for a bullish momentum candle at the key areas. This could easily be a fake-out watch out. Keep an eye on the Economic calendar!
Keep a close eye on the Economic calendar. Play safe! If I get one Follow I will post more trades for next week.
Opportunity for a Sell position! Open a Sell position @1.300 for a swing trade. Candlestick patterns indicate a bearish sign. Let us wait for the price action confirmation at @1.300 Let me know on the comments!