BTC/USDT 4H (Binance Fut.) Rising wedge & midline channel retest

17 มิ.ย. 2020

Bitcoin is facing strong resistance right now and is showing some clear bearish pattern.
I'm expecting price to continue the downtrend towards channel support if doesn't break back upwards.

Current Price= 9435.00
Sell Entry= 9400.00 - 9498.00
Take Profit= 9044.64 | 8706.24 | 8379.50
Stop Loss= 9612.50

Risk/Reward= 1:2.58 | 1:4.54 | 1:6.54
Expected Profit= 64.20% | 117.90% | 198.00%
Possible Loss= -33.90%

Fib. Retracement= 0.786 | 1.272 | 2
Margin Leverage= 15x
Estimated Gain-time= 240h

18 มิ.ย. 2020

บันทึกช่วยจำ

EDIT: targets, stop and risk/reward ratio are those visible in the chart!
Take Profit= 9044.64 | 8706.24 | 8201.86
Stop Loss= 9662.50
Risk/Reward= 1:1.89 | 1:3.48 | 1:5.84

23 มิ.ย. 2020

ปิดการเทรด: ถึงเป้าหมายการตัดขาดทุน

Stopped at -2.26% loss (33.90% using 15x leverage) after being in +3.01% profit (45.15% using 15x) during the weekend. TP1 may have been a bit too far...
But as we can see in the chart, the rising wedge base and the mid-line channel resistance were retested again, so I'm still bearish but not trading Bitcoin right now. I will keep an eye on it to find a new short set-up.
Be safe and always manage risk and position size accordingly to your total balance!

25 มิ.ย. 2020

บันทึกช่วยจำ

As I was saying the other day, I was still bearish on BTC but after being stopped I didn't dare to publish a short again.
That's too bad because at last TP1 was reached during the night, if I would have used a R/R= 1:1 for first target as I'm used to, SL would have been 9853.36 and it wouldn't have been hit...
I will stick to that strategy in future because that's the one working for my trading style, using low leverage on High Time Frame.