BTC Short Trade Setup - Head and Shoulders Pattern!

23 thg 8, 2022

BTCUSDTBTCUSD$BYBIT:BTCUSD

This is my short trade setup that I have just taken.

If you missed the trade, wait for a retrace to get in.
Head and Shoulders pattern on the 30m chart with TPO and CVD confirming the trade. CVD looks to be leading price bearish and we have had a failed auction on the TPO chart

Open interest also indicating this is a high probability trade.
All the details in the video

Not Financial Advice. DYOR. Papertrade before trading with real money.

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Safe trading!
Shawn

23 thg 8, 2022

Ghi chú

Looks like a bullish pennant has formed on BTC. Could mean a breakout is on its way. Use good risk management here - Tight stops or stops at entry if you've taken the short.

23 thg 8, 2022

Ghi chú

Placed stop at entry - got stopped out and flipped long as it looks like we have a breakout of the range on its way

27 thg 8, 2022

Ghi chú

Re-entered Short on the retest of the Value area high of the range. Still in the trade, but 50% of the trade with stops in profit. 50% at entry as we might still see lower prices.
If the market dumps further this could turn into a long term swing trade

27 thg 8, 2022

Ghi chú

$19913 Target hit as indicated in the video at 7am UTC+2