I traded the news +2R setup
$BTC
$BTC
Post
TraderLeumas
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quick $BTC profile update.
From the open, the market has been playing out the way I expected. It opened around the previous day’s value area low and has so far formed a low confidence day.
The current profile looks truncated, with a very mechanical high, which points to a weak high, and a poor low, which is typical of a truncated profile.
Price has been moving sideways since the open, and the POC area is still too wide. If the market breaks out in either direction, I expect price to revisit the POC area. Even if we do get a breakout, I’m not expecting a wide range to develop on either side.
I've already closed my short position. I entered around 76.2k and closed at 75.6k. still not done for the day yet.
From the open, the market has been playing out the way I expected. It opened around the previous day’s value area low and has so far formed a low confidence day.
The current profile looks truncated, with a very mechanical high, which points to a weak high, and a poor low, which is typical of a truncated profile.
Price has been moving sideways since the open, and the POC area is still too wide. If the market breaks out in either direction, I expect price to revisit the POC area. Even if we do get a breakout, I’m not expecting a wide range to develop on either side.
I've already closed my short position. I entered around 76.2k and closed at 75.6k. still not done for the day yet.