BTCUSD - M15 Short-Term Downside - Timing Today's USD News

5 feb

Analysis of overall situation:

• We had a strong push up (to the left)
  
• We're now in a retracement phase.
  Usually there are 3 pushes down before the retracement is done. We're on that 3rd push phase.
  
• I'm looking to Buy overall, so this is a short-term scalp in line with the retracement. (The Buy scenario is the orange SnDR zone lower)
  
• H4 candles still showing weakness, indicating the retracement isn't done yet. Also, the spike from the previous M15 low happened at the new day, which hints it's not the real low.
  
• Waiting for the market to first take liquidity off the high of today, ideally enter into the gap (blue zone) then create strong Bearish candles.
  
• Entry will be on any M5/M15 retracement - after a break of structure. Also eventually breaking the current upward trendline.
  
• Targeting the M15 low
  
• Timing for this entry is after the USD News at NY Session.
  
• If market hits the invalidation level marked, then this idea is discarded.
  

5 feb

Trade attivo

Didn't move into the blue area of interest. No entry.

5 feb

Nota

Still waiting.

9 feb

Trade chiuso: obiettivo raggiunto

It finally played out...
More patience was needed