BitcoinShort
BTCUSD - Short Fib Play
Note : I am already scaling in, 0.4x short, looking for complete hedge
Premise:
1. Hourly Bearish divergence + correction is expected
2. Slight trend volume weakness
3. OTE retrace
Execution:
1. Short : 6456-6491
2. Stop : 6553
3. Target 1 : 6362, Target 2 : 6282
Result:
1. 4.92:1 Reward:Risk trade
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Note that it may appear like this is a hindsight trade - here is my chart basis my entry :
Premise:
1. Hourly Bearish divergence + correction is expected
2. Slight trend volume weakness
3. OTE retrace
Execution:
1. Short : 6456-6491
2. Stop : 6553
3. Target 1 : 6362, Target 2 : 6282
Result:
1. 4.92:1 Reward:Risk trade
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Note that it may appear like this is a hindsight trade - here is my chart basis my entry :
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