Hi mates, Planning a directional trade in BTC so did some work on support and resistance on this daily chart sharing mine ideas below.
Idea one- will take a trade if it will reach to support and will get a bounce from there target would be resistance follow up levels if that will not break, can take a second trade again after when resistance zone will breach for this trade target i will take mentioned weekly supply zone.
Idea two- will take a trade after when it will break support level target would be the potential downside level which is looking a good support too now after the break of current mentioned support.
until then i will just watch it, and after the executions follow mine rule- Trade right sit tight.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
Best Regards-: Amit
Idea one- will take a trade if it will reach to support and will get a bounce from there target would be resistance follow up levels if that will not break, can take a second trade again after when resistance zone will breach for this trade target i will take mentioned weekly supply zone.
Idea two- will take a trade after when it will break support level target would be the potential downside level which is looking a good support too now after the break of current mentioned support.
until then i will just watch it, and after the executions follow mine rule- Trade right sit tight.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
Best Regards-: Amit
Commento:
Not breaking support getting each time bounce from there
Commento:
Taking resistance from mentioned trendline, but indeed got a good bounce trade
15 minute TF chart