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Victors Trading Blog #4

Once again, we are looking at the Bitcoin chart. Let's first examine the 15 min chart to get a better understanding of overall market direction. First, you must understand that if you enter via higher Timeframe bias, your RR is massively improved as you can find entries in the lower time frame but Take Profits at the higher Timeframe Targets. 

Also, the trades provide a higher probability, and you don't need to take on more risk in case of a drawdown. For example, when you want to enter in Wave 2, you can get when you see a little ABCD correction and some other Pattern, even though the trade might only corrected wave 1 by 30%, and you want to take the trade because of the higher timeframe target, you'll still need to put your stop below the low of wave 1 as wave 2 may correct wave 1 by 99%. 

Note that in your studies, as it's pretty important for beginners. When you've reached a certain level you can make educated guesses and increase your position, but for risk management reasons I only like to increase my position by a fraction of what was already in the bad for extra gain, but not open a position, except for a very small scalp where I can quickly put my Stop above BE.

We've got a trendline (using the bodys) that's being tested in the 15 min TF together with a nice ZigZag and equal highs mit einer FVG.

Just before the break down it went back up to internal range liquidity, including a breaker (Last downcandle before the long wicked green candle at 15:20 and a FVG (BISI).

As you can see, there's a beautiful Triangle. Triangles are areas where orders are being accumulated and price is with much volatility forced into one direction.

Which isn't exactly the case here, as we first build a small Bullflag, which is a nice combination and emphasis on the possible volatile upmove.

Coupled with the FVG, this makes for a good first profit target. and an area where we can pull the Stop higher but not above BE to avoid a loss and cover fees, as I would normal, as there is still the tip of the triangle. The tip, normally visualized using a vertical trendline is an area where price likes to return to, so I'm gonna be careful with this one. 

Small setback  and further upward expansion. Also, the intermediate term high is again a very nice level to take profits at, as there are sellorders that are gonna be triggered after further upward movement. 

OB would be a nice level for a reentry.

The Long Position tools is to track the progress of the Trade and get information about the loss, win, RR and much more
The Long Position tools is to track the progress of the Trade and get information about the loss, win, RR and much more

After taking sellside liquidity below the intermediate term low, we can see a strong upward push to the higher timeframe target.

By the way, having a very tight stop or ideally a stop that was already pulled into profit is perfect to leave the desk if you have to. The worst that could happen is that you make not as much money, but don't lose any. Wouldn't recommend it at the beginning of the trade though. 

As you might see, there was another push after the FVG and two huge drops. Back to the tip of the triangle...

After that straight to the high outlines in red, nice second TP. Rest was stopped out. 

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Thanks for your thoughts, Victor. Appreciate your takes!
30 May