BTCUSD Sell J Pattern
Hello Traders! After the 10 consecutive victories in BTCUSD in the month of October, we lost in my previous post. But we will again make a good winning streak with the same strategy.
In my last idea, I posted an educational post about the J pattern. In which I gave the guide on what to do after the J pattern Formation. I have attached that education Chart Below. Click the chart to view.
If we see J pattern(1) you can see it bounced back from the support area which was previously strong resistance. It is Formation 2: Bounce Back. This is the rare scenario of J pattern that I was talking about in which it bounces back from the support.
It is also a rare case where we see J pattern After the J pattern. In J Pattern(2) W1 chart we can see consecutive bullish candles, it is showing that it will give a hard drop as it happened in Gold and it will break the support without any stop. Support is lying at 10,000$ But There is a chance that it can change into a Head and Shoulder Pattern. In Both cases it's a sell.
When to sell when J pattern is Forming?
You can Sell at the First bearish candle or wait for MACD cross or Moving Average cross in D1/D2 chart. First Target For this trade is the 10,000$ support area.
Good Luck Traders. Share your thoughts and ideas below. If you have any questions you can ask in the comment section.
All three J shape Formations
In my last idea, I posted an educational post about the J pattern. In which I gave the guide on what to do after the J pattern Formation. I have attached that education Chart Below. Click the chart to view.
If we see J pattern(1) you can see it bounced back from the support area which was previously strong resistance. It is Formation 2: Bounce Back. This is the rare scenario of J pattern that I was talking about in which it bounces back from the support.
It is also a rare case where we see J pattern After the J pattern. In J Pattern(2) W1 chart we can see consecutive bullish candles, it is showing that it will give a hard drop as it happened in Gold and it will break the support without any stop. Support is lying at 10,000$ But There is a chance that it can change into a Head and Shoulder Pattern. In Both cases it's a sell.
When to sell when J pattern is Forming?
You can Sell at the First bearish candle or wait for MACD cross or Moving Average cross in D1/D2 chart. First Target For this trade is the 10,000$ support area.
Good Luck Traders. Share your thoughts and ideas below. If you have any questions you can ask in the comment section.
All three J shape Formations
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.