As shown in the chart below , we are waiting a bearish scenario to form from the mentioned zone .
how to trade this scenario ( main conditions and procedures ) :
- stops must be purged above that mentioned high ( stops for sellers , pending orders for buyers )
- we must see a dynamic price action from this zone after first step finished.
- wait for new low to be taken
- wait the retracement for the last wave formed ( 50% or above )
- have your short with sl above the new high formed and target the lows shown on the chart
use your ” money and risk ” management – plan
close partials as the price moves in your Favour
swing trades need a long time so be patient
if this analysis helps you plz let me know by adding a comment below the post
[caption id=”attachment_9784″ align=”aligncenter” width=”300″]
BTCUSDT 2023 04 11 04 51 05[/caption]
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