SHORT $BTCUSD Swing Trade on 1 hr

5 lut 2022

Just to be clear I am currently BULLISH on BTCUSD over the mid to longterm but I see a setup for a short term swing trade and have entered this trade (hours to days). This is based off the BB squeezing to a very tight range and this suggests a coiled spring in price is being compressed and some of the best trades come from this setup. Anyone can clearly see the compression of price on the 1Hr Chart. The hard part is determining direction. For that there are several options but the one I find most useful is the CMF (Chaikin Money Flow). As there becomes a divergence in the CMF that usually precedes the break in that direction. Some people use RSI and other indicators but I find CMF to be the most accurate in my experience.

Here is a 1 HR chart of BTCUSD with CMF clearly in a downtrend and BEARISH Divergence showing while price goes sideways. Another indication of direction is whether CMF is positive or negative. It just turned negative and has had a BEARISH Divergence.

SHORT BTCUSD @ $41643 with SL @ $41190. Target Price $40550 most likely before the weekend is over.

Trade what you see.

5 lut 2022

Zlecenie aktywne

With weakness showing as price breaks below EMA 20 (middle of BB) I have added to this to become a FULL Position (2% RISK). 2nd SHORT Entry was $41,555.

SL @ $42190. (Typo in original post says $41,190...should be $42,190 as SL)

6 lut 2022

Zlecenie aktywne

Woke up to see the charts had changed on 1 Hr TF with now CMF making an UPTREND with price above the 20 MA on BB. So the exact same reasons I was shorting now show me I should be LONG. Being this is a 1HR chart the charts change much quicker than the daily obviously.

So, trade SHORT is CLOSED and I have now gone LONG Entry just above my prior entry with 1% RISK at $41657.

Will update this chart with a new pic during normal hours.

6 lut 2022

Uwaga

Quick pic off my phone showing what's changed

6 lut 2022

Uwaga

Now CMF has been tanking lower on the attempted breakout and met with significant rejection at 42k. Starting to favor a break lower again but for now CMF remians positive. If CMF turns negative will likely bail on the trade.

6 lut 2022

Zlecenie aktywne

VERY similar chart in DOTUSD and ETHUSD. I have entered LONG positions in those as well. Starting to show the longer term accumulation as evidenced by the upward sloping CMF channel. This shows money flowing INTO these assets slowly over last several days.

So I have completely reversed my positions on this trade. So far my trades that were closed were ~$150 WIN and the other aboout $150 LOSS. I fully expect a significant POP here soon.

6 lut 2022

Uwaga

Again I am LONG here and this is looking more and more like a BULL Flag on the 4 hr chart nd massive accumulation at this tight trading range on the 1 hr chart.

Expect a breakout SOON.

Upside target price if we break out of BULL Flag would be $45,500.

8 lut 2022

Transakcja zamknięta: osiągnięto wyznaczony cel

I hope everyone saw this and traded it as I did. I mentioned above that Upside Target Price on BTC was $45500. BTC reached $45519 before selling off....

I have sold everything as I think risk does NOT currently favor the upside. We are still on a Weekly downtrend and that has NOT changed despite the recent bounce that I traded here.

Trade what you see.