BTCUSD - Short Setup from a 5 HR Bar

BITFINEX:BTCUSD   Bitcoin / Dollar
With the 5HR (High Reversal) Bar this might be a good shorting opp - given it's counter trend right now the risk is set low until more conformations.

The short setup is based on a simple strategy, so this might not work out but it will be a good "hedge" for me personally based on the daily TF as first warning sign since a long long time on BTC .

Weekly also a "freecandle" so higher odds on this one. -> refers to something if a candle is opening outside of the bband and has a high chance of reversal back to the mean if the following candle closes inside the band again (clearly the closing inside part is missing and this could continue being outside due to a strong trend).

Also sunday 22:00 UTC wallstreet futures for BTC start to trade. DUMP IT ON THESE FUCKERS! - IB allows them only to go long with 50% Initial Margin.

Let's see how it will play out.
Kommentar: - Freecandle system on the daily TF - so this is a mega nice setup i like to play.
Kommentar: shorting current qtrly contract is better suited than spot due to a nice premium:

red = okex 3m
green = bitmex 3m
white = bitmex perps

6days until new 3m contract btw!
Trade ist aktiv: taking partial profit here due to dynamic demand level here (support)
Trade ist aktiv: we will take a "hedge" long here, because overall daily structure is still bad but hence we are in a bullmarket would be a shame to pass on such long setup here: current selling feels like selling into support

the long with the good entry still active and holding but with current long we are offsetting some of that exposure and see how this will play out.

Remember 22:00 UTC futures are coming live -> stay as flat as possible due to crazy reactions
Kommentar: closing the long hedge here
Trade wurde manuell geschlossen

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