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BTC LTF MSB Short Setup
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BTC LTF MSB Short Setup:
Looks to be the same kind of setup like the other two where you get the HL structure - HH structure- LL structure - LH structure;
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I'm a bit sceptic about the following things:
- Price didn't immediately break through the structure like it did in the examples, though this could be because this HL structure is way bigger (more support so reaction to upside so no immediate breakdown);
- I'm afraid that price, when it goes back up to form the LH structure, just goes back to the highest high to create an SFP which would hit my SL. I'm afraid of this because the highest high isn't already an SFP (otherwise this would just be straight up $
CASH$$). To mitigate the chances of this happening I'm going to wait for 1) the dip in the LH structure or 2) an obvious SFP in the LH structure. I have to add though that on the two examples price never formed a SFP at the highest high and still you got the LH.
I'm expecting scenario 1 because this is how it went in example 1 and this overall structure looks a bit similar to that one (111) but you ofcourse never know.
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Maybe a bit soon to create the whole thought process as price likely needs a bit of time before it goes back up for the LH so the real structure could therefore look way different than the scribbling but I just have to show my two followers real quick how good I am at reading BTC (L-taking in the making?).
Looks to be the same kind of setup like the other two where you get the HL structure - HH structure- LL structure - LH structure;
------------------------------------------------------------------------------------------
I'm a bit sceptic about the following things:
- Price didn't immediately break through the structure like it did in the examples, though this could be because this HL structure is way bigger (more support so reaction to upside so no immediate breakdown);
- I'm afraid that price, when it goes back up to form the LH structure, just goes back to the highest high to create an SFP which would hit my SL. I'm afraid of this because the highest high isn't already an SFP (otherwise this would just be straight up $
CASH$$). To mitigate the chances of this happening I'm going to wait for 1) the dip in the LH structure or 2) an obvious SFP in the LH structure. I have to add though that on the two examples price never formed a SFP at the highest high and still you got the LH.I'm expecting scenario 1 because this is how it went in example 1 and this overall structure looks a bit similar to that one (111) but you ofcourse never know.
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Maybe a bit soon to create the whole thought process as price likely needs a bit of time before it goes back up for the LH so the real structure could therefore look way different than the scribbling but I just have to show my two followers real quick how good I am at reading BTC (L-taking in the making?).
Nota
Scroll way up to today on the chart and then update it using the button to load new bars so you can see the short setup!Nota
Update:
Now I'm thinking:
The HL structure is way bigger than the examples I have + price fell down way lower than in the examples.
Therefore I'm probably shorting an SFP of this new level (depending on where price comes from: significant PA or not?) and if price then breaks below the low responsible for the SFP, I add on the trade where the SL is now this SFP.
See my x.com post for the updated image @3yyJasper.
Nota
Closed for a small loss of 0.03R when 15min candle closed above level. Unexpected invalid SFP but it's still a MSB. Will let price develop over the weekend to see what's up.Nota
bwrooo...
Now have to improvise @3yyJasper.
Overall plan/bias looks solid though but yeah whahahauw
Trade fechado manualmente
As seen on x.
-1.06R total booooh!
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