Bitcoin Analysis
Pair :Bitcoin
Strategy: SLP (Structure, Liquidity and POI)
Analysis:
Every Market behavior is triggered by something, For me, I want to see only Two things trigger a certain behavior in the market which I call the MSS ( Market structure shift).
The two things that SHOULD cause this behavioral changes are;
a.) ORDER BLOCK (OB)
b ) BREAKER BLOCK (BB)
For Bitcoin, the cause of this recent market structure shift is the BREAKER BLOCK.
ANALYSIS STEPS:
1) What caused this Market structure shift? (4hr BREAKER BLOCK)
2) Do we have liquidity after the MSS? (YES)
3) Between the OB and the BB, which is the closest to our liquidity? (BB)
4) Therefore our POI is on the BB.
This is detailed... You can understand how I trade with the above information.
But what is the meaning of breaker block and order block?
A BREAKER BLOCK and ORDER BLOCK are simply key levels in the market that causes market reversals
The Bitcoin setup didn't go as plan but I didn't take a loss
WHY?
There's what I label higher Timeframe analysis and lower timeframe Entry.
The Bitcoin setup didn't go as plan but I didn't take a loss
WHY?
There's what I label higher Timeframe analysis and lower timeframe Entry.
The reason is simply because the risk on the higher Timeframe is higher but small on the lower timeframe
So basically I waited for a confirmation entry on the 15 minutes timeframe but the market didn't present it for me to take the sell entry.
The essence of taking confirmation before taking a trade is simply part of risk management.
The reason is simply because the risk on the higher Timeframe is higher but small on the lower timeframe
So basically I waited for a confirmation entry on the 15 minutes timeframe but the market didn't present it for me to take the sell entry.
The essence of taking confirmation before taking a trade is simply part of risk management.
Okay, so in other words your order didnt get filled