BTCUSD, triangle within consolidation/correction channel in BTC

29 Feb 2020

Hello everyone, triangle has formed within bearish flag pattern. This flag/channel could mean continuation in price decline. What I am looking for is for the triangle resistance or support line to get broken before entering. If resistance is broken first, I would like for the green candle to close above it (or very close to it), and enter the trade after first red candle forms. If support is broken first, then I will enter short trade when red candle closes bellow it. So, as soon as my conditions are met, I will buy some “red options” (on red candles, max 10).If flag/channel resistance line gets broken before my entry conditions are met, I will re-evaluate this set-up. My rules are the same as before:

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Rules:

7.Worst case scenario: if I will have 4 losing candles in a row, I will take my losses and look for a new set-up.

8.Best case scenario: If I will have 4 winning candles in a row, I will gladly take my profits and look for a new opportunity.

9.I will not trade more then 10 candles in a row and I will stop trading if I am up by 4 winning trades.
For example: if my first candle is a losing candle but the next 5 candles are winners, then I will stop trading, since I will be up by 4 wins (5 wins - 1 loss = 4 wins).


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29 Feb 2020

Trade aktif

Red candle closed bellw triange support line, s I wi start pacing bets n red candles (max 10).

29 Feb 2020

Catatan

sorry for spelling mistakes in above message, my keybord went on a strike :)

Red candle closed bellow triange support line, so I will start placing bets on red candles (max 10).