Buying the blood...BTCUSD Long trade with good R:R

Entry: between 3940 to 3660
SL: 3490
Target 1: 4233
Target 2: 4716
Target 3: 5626
R:R: 4.28
Reason for Entry: Rounded 1st test of weekly OB (see below)

Note

Laddered 50% at 3889
Order set at 3666 for another 50%
Position size: small with no leverage
Counter trend trade so risk management is paramount

Note

All orders filled. Price bounced from the exact damn pip of the bottom of green rectangle and posted over 7% profit so far. Amazing !!

Note

Target 1 hit with precision. Closed one third position as planned. Also moved SL to breakeven (which means I can't lose anything from this trade now)

Note

I've just set another take profit order for 20% of my remaining position at 4420. That's where there is a H4 OB. When price reaches there, there will definitely be some sell-off because of the rounded retest of that resistance level (red rectangle in chart). I would like to lock in as much profit as possible on the way up because I am trading counter trend.

Note

My average entry price was 3777.5
Locked in profit for one third position at 4233
Moved SL up to entry for remaining two third position and stopped out at 3780
Overall, R: +0.5, Profit: 4.08%
Not the result I expected but happy with this small profit.
Onto the next trade when I see a better setup.

gumtree116

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gumtree116

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