There is nothing of high importance due today concerning the US Dollar. However, as the dominant trend is weakly bullish, a long trade at $26,440 will probably be the best set-up that we might get. This means that both levels look quite likely to be reliable, so there might be trade entry opportunities at either one if a test produces a rejection. The price is now between key support at $26,440 which has held twice, and the nearest resistance level at $26,906 which is also confluent with a double top. The rise is best categorized as weakly bullish, but it is bullish, and we see a clear sequence of higher lows over the past few days. However, following that, the price has failed to get below $25k and is now rising after reaching close to that level. The longer-term technical picture shows a bearish reversal following a climb to the $30k area some weeks ago. This was not tested, as the price has been rising weakly over the past few days. I wrote in my previous BTC/USD analysis last week that if the price could get established below $25k it would be likely to fall further quite quickly. You can exploit these levels or zones by watching the price action that occurs at the given levels. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. Remove 50% of the position as profit when the trade is $100 in profit by price and leave the remainder of the position to run.Place the stop loss $100 above the local swing high.Go short after a bearish price action reversal on the H1 timeframe following the next touch of $26,906 or $27,536.
Adjust the stop loss to break even once the trade is $100 in profit by price.Place the stop loss $100 below the local swing low.Go long after a bullish price action reversal on the H1 timeframe following the next touch of $26,440, $26,102, or $25,826.Trades must be taken prior to 5 pm Tokyo time on Tuesday. My previous BTC/USD signal on 13 th September was not triggered as there was no bullish price action when the support level which I had identified at $24,612 was first reached.
0 kommentar(er)
