10.19.2019 - XBTUSD Daily Outlook
Good afternoon!
I nearly got stopped out on short trade of orders placed in the 8200-8400 region but the daily never closed above 8650.
It pulled back near 8300/8400 where I closed at a minor loss.
I re-enter short upon break of the uptrend line and am on the side of profit.
October is coming to an end and this is how I would sum it TA wise.
We'll head into November either with a rejection from the upper channel of a rising wedge within a downtrend channel or a breakout of the descending broadening wedge.
My bet is on the former but in the event it is the descending broadening wedge, make sure you have a stop loss placed above the upper channel of the descending broadening wedge.
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I nearly got stopped out on short trade of orders placed in the 8200-8400 region but the daily never closed above 8650.
It pulled back near 8300/8400 where I closed at a minor loss.
I re-enter short upon break of the uptrend line and am on the side of profit.
October is coming to an end and this is how I would sum it TA wise.
We'll head into November either with a rejection from the upper channel of a rising wedge within a downtrend channel or a breakout of the descending broadening wedge.
My bet is on the former but in the event it is the descending broadening wedge, make sure you have a stop loss placed above the upper channel of the descending broadening wedge.
Do you enjoy my content?
You can support me by leaving a like!
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