#BTC - FROM TRADE IDEA TO TRADING PLAN

٢٦ مارس ٢٠٢١

Yesterday i posted a chart on Twitter, where i was expecting a bounce for bitcoin on the 4h timeframe (i'll post this general idea in the comment section). I had no clue about the kind of pattern it was going to form, so i moved to the 15 min chart, because the bounces most of the time are very fast and you need a lower timeframe. I've seen a double bottom, with the second low higher than the first. Then i've seen an harmonic pattern with a bearish divergence on top, so i was expecting a wave down at that point. The perfect entry point in this kind of price action is the 61,8 % of the last wave up. Using that entry point and a stop loss below the double bottom you have a good risk reward trade setup most of the time.