here we go btc!

entered a SMALL CMP long

#trade

very tight sl as i'm just testing here, wanting to catch potential moves back up to above resistance zone as btc managed a nice close above it

close above resistance zone ^

not bad not bad so far

there's also a chance it'll come crashing down

what im betting on is the long bottom wick on the previous candle

looking at this price action, on the third candle to the right there was a HUGE long upper wick of rejection from resistance zone

next candle -> bulls manage to overcome resistance with a long bottom wick fighting back the bears

to me that's a bullish market movement

#calls #analysis

as long as this current market candle closes within my newly formed support zone, things SHOULD be okay

there's no 100% prediction or win rate in trading, only betting the odds favourable !

what i'm looking at, 1.59 RR trade (and potentially more)

now, why did i put my SL at ^?

think about it, ill reveal the answer later

do actually think about it so you can get better at trading as well

now, how does market structure work?

ahh one wrong answer,

the answer is higher high (HH), higher low (HL)

good job for those that got it!

#learn

realise how btc 15m tf is moving in an uptrend, and hence market structure should HH, HL.

see how each low is higher than the previous

hence, my stoploss is placed BELOW the previous low with a bit of buffer for wicks, as the next low should NOT be lower than it

if not market structure is broken!

once market structure is broken, trade is INVALIDATED.

hope this helps! 😊

#learn

as of now market structure is still well respected!

so before you enter every trade

know WHY you are entering it
- what reasons are there? indicators? price action?
- have TP in mind
- have SL in mind

without any of these clearly in your head, DON'T trade.

#tips

if this did help, do help to share the channel so i can help share and help more people as well 🥳🤘🏽

https://news.1rj.ru/str/cryptomumbles