BTCUSD Long Setup - 4HR, Dust myself off and try again

Setup: Got stopped out on the last trade because of an error I made (wrong stop loss). I'll evaluate the trade in a article later, so we can both discover where and why I went wrong. Correct position sizing saved me from any real trouble (countertrend trade, and only a minor pullback during the setup allowed me only take on very small risk).
Now the situation is the same, only I saw a better pullback, and a reaction from the trend line which shows me strength. Also I can see a nice structural 1-1 move forming, something the markets like to make.
Giving the same trade another shot, again, with correct position sizing. These are countertrend trades, so I size the risk at least at half the risk I would take on a trend trade.

Trigger: Price breaks long level

Target:Same targets as last trade. Look for indicator signals and price reaction at those levels

Stop: I'm keeping a mental stop on this one. Liquidation level is below the daily lows. Again, position sizing allows me to do that..


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More information on the indicator can be found below:

تعليق:

We seem the be ranging, as I expected in yesterdays post. Nothing be be afraid of, as long as we stay above the "mental" stop area. Be patient, let the market work itself out. And try not to think like a crypto trader: every green candle does not mean moon, and every red candle does not mean the end the world.

تم حذف الأمر:

the bounce from the trend line and kumo gave me confidence that the up move may continue, but the setup cancelled as price failed to move higher. No trade here.
I'll keep the weekly post updated as there are new developments, and post a new setup when I see it.