Im currently looking at a trade set up on the 15 minute TF for BTC. Im gonna keep this one simple.
Prior to the weekend we had a big sell off and since then have created a range on the 1 hour-15 minute TF.
Im expecting one of two things to happen over the next couple of days:
1. Price pushes down below 21877 to take a stab at Previous Days Low. If this happens i am waiting to see if we get a rejection and reversal back up. 2. Price pushes up above Daily EQ.
At this stage, i will be looking to stagger short entries from the 50 Fib up to the 61.80% for a continuation down to the Previous Daily Low for final target.
The way im seeing this range is retail traders will be expecting a move lower so a price manipulation up to stop out anyone short from the top of the range makes more sense to me. Its on this move up that i want to start searching for short positions.
Im currently looking at a trade set up on the 15 minute TF for BTC. Im gonna keep this one simple.
Prior to the weekend we had a big sell off and since then have created a range on the 1 hour-15 minute TF.
Im expecting one of two things to happen over the next couple of days:
1. Price pushes down below 21877 to take a stab at Previous Days Low. If this happens i am waiting to see if we get a rejection and reversal back up.
2. Price pushes up above Daily EQ.
At this stage, i will be looking to stagger short entries from the 50 Fib up to the 61.80% for a continuation down to the Previous Daily Low for final target.
The way im seeing this range is retail traders will be expecting a move lower so a price manipulation up to stop out anyone short from the top of the range makes more sense to me. Its on this move up that i want to start searching for short positions.