BitcoinLong
BTCUSD LONG Fibonacci extensions for intraday trading $BTCUSD
These are the Fibonacci retracements I am watching for BTCUSD today :
N1: 39530.24
N2: 39170.42
N3: 38673.15
Current intraday trend likely DOWN
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 5.618 (38090.97)
TP could be @ Fibo level 0 (40112.43)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
N1: 39530.24
N2: 39170.42
N3: 38673.15
Current intraday trend likely DOWN
DON'T FORGET TO SET STOP LOSS IN CASE OF NO REVERSAL FOR A LONG TIME
Examples of SL and TP :
SL could be @ Fibo level 5.618 (38090.97)
TP could be @ Fibo level 0 (40112.43)
Again these are just EXAMPLES ; these are the simpliest way to implement SL and TP in this system ; otherwise one could easily improve these by using partial profit taking, SL to breakeven after a certain amount of profit and other money management tactics... Same goes with the SL
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.