Pennant Forming in BTCUSD
Medium-High Risk Trade.
As we have a lot of uncertainty ahead of us but it does look like a breakout is imminent in BTCUSD on the 1hr timeframe.
Just to name a few
Have a look at the chart to see the levels of interest as they are changing daily but I have put the levels I'm looking at as of post.
I like to have my SL set at the APEX point of the pennant when it breaks out initially and then I move it up to the entry point to minimise loss.
Will keep you updated...note my stance is to mainly DCA in this time with small minimal day trades as the risk reward on a huge move is worth it from my calculations due to volatility.
As we have a lot of uncertainty ahead of us but it does look like a breakout is imminent in BTCUSD on the 1hr timeframe.
- JP Morgan getting involved in BTC
- Health of US Stocks
- Health of world economy
- Correlation between BTCUSD and US Stocks (DJI & SPY)
Just to name a few
Have a look at the chart to see the levels of interest as they are changing daily but I have put the levels I'm looking at as of post.
I like to have my SL set at the APEX point of the pennant when it breaks out initially and then I move it up to the entry point to minimise loss.
Will keep you updated...note my stance is to mainly DCA in this time with small minimal day trades as the risk reward on a huge move is worth it from my calculations due to volatility.
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