Bitcoin CME Futures Long Position on 1H Timeframe
This trade is based on the 1-hour chart of Bitcoin CME Futures, where the price has retraced to the 0.7 Fibonacci level, signaling a potential upward move. We are looking for a bullish continuation to push the trend through the Sunday open, aiming for a higher target as the market gains momentum.
Key Levels:
• Entry: The trade is initiated near the 0.7 Fibonacci retracement level, where a strong support zone is identified.
• Target: The target is set at the upper green zone, which aligns with the expected upward movement through the Sunday open.
• Stop-Loss: A stop-loss is placed below the recent low (indicated by the lower red zone) to limit potential downside risk if the market moves against the position.
Rationale:
The 0.7 Fib level often serves as a critical support point, and the current market conditions suggest a possible upward movement. With the price consolidating at this level, we are positioned to capitalize on a bullish breakout toward the Sunday open.
Risk Management:
By setting a stop-loss below the recent low and adjusting the position size accordingly, we maintain a favorable risk-to-reward ratio. Traders should consider adjusting this setup based on their individual conditions, such as position size, broker, and other external factors.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Key Levels:
• Entry: The trade is initiated near the 0.7 Fibonacci retracement level, where a strong support zone is identified.
• Target: The target is set at the upper green zone, which aligns with the expected upward movement through the Sunday open.
• Stop-Loss: A stop-loss is placed below the recent low (indicated by the lower red zone) to limit potential downside risk if the market moves against the position.
Rationale:
The 0.7 Fib level often serves as a critical support point, and the current market conditions suggest a possible upward movement. With the price consolidating at this level, we are positioned to capitalize on a bullish breakout toward the Sunday open.
Risk Management:
By setting a stop-loss below the recent low and adjusting the position size accordingly, we maintain a favorable risk-to-reward ratio. Traders should consider adjusting this setup based on their individual conditions, such as position size, broker, and other external factors.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Zlecenie aktywne
Trade Up 3%!
The trade is currently up by 3%, so it’s a good time to move our stop-loss to break even. This adjustment makes the trade risk-free while allowing it to run. This level can also serve as our first take-profit (TP) point. Let’s see how it plays out!
Transakcja zamknięta: osiągnięto wyznaczony cel
I’m taking my full take-profit here, as the 61-62k area is where sellers may step in. While there is potential for the price to continue moving towards the Sunday open, I will monitor how it reacts around this 61-62k level. Overall, a great trade with good risk-to-reward (RR). Congratulations to everyone who took it!
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.