BTC long on cross of multiple timeframe resistance
Legend:
normal line: candle body based support / resistance
dashed line: wick based support / resistance
red line color: 1D timeframe based support / resistance
green line color: 4H tf based s/r
yellow line color: 1H tf based s/r
Description:
The yellow 1H price has 5 interactions as support. My main premise is, that this will serve as a strong resistance. It worked well already a few times during the trade. Even though that were fakeouts.
That resistance is also visible on the 4H. During the trade a daily resistance built up on the 1H resistance as well.
normal line: candle body based support / resistance
dashed line: wick based support / resistance
red line color: 1D timeframe based support / resistance
green line color: 4H tf based s/r
yellow line color: 1H tf based s/r
Description:
The yellow 1H price has 5 interactions as support. My main premise is, that this will serve as a strong resistance. It worked well already a few times during the trade. Even though that were fakeouts.
That resistance is also visible on the 4H. During the trade a daily resistance built up on the 1H resistance as well.
Kommentar:
4H s/r
Kommentar:
1D resistance that build up on the 1H level
Kommentar:
I have a 1D resistance just above my entry. But I expect that to be broken soon after the entry as it is quite close.
Kommentar:
I'm basically bearish until the price enters my trade.
Kommentar:
R/R is 2.34 (7.09% / 16.61%)
Kommentar:
The entry has been triggered. But the 11.650 level is not clear enough to pull up my stop-loss there.
Kommentar:
It reacts with the price. But not well enough in my opintion:
Trade geschlossen: Stop wurde erreicht:
I really have to improve pulling up my stop-loss and manage my trades better.