Thread by @Mindset_BTC

Mini Thread on confluence:

When carrying out TA, you've got to build confluence. Here is how I would build this $BTC trade:

1st Pic - VPVR tool on TV shows we are at Value Area High of the recent price action

Second image introduces a parallel channel to the mix

We usually short at the highs of the channel, and long at the lows, taking profit or closing trades at the mid line (this works until it doesn't - you will end up losing a trade doing this in each channel)

Third image introduces HTF fibs into the mix

Note how well these levels are respected when pulled from the swing low of the move to the swing high

4th image introduces our local fibs that we've studied recently as shown

Note the confluence here:

- The current price is at VAH
- The 0.32 fib level of HTF and 0.618 of the recent move align almost perfectly together
- The also line up with the mid point of the channel

And lastly, look at what is resting below all of the above tweets for an added factor

- A wild naked point of control is spotted!

We aren't always right as traders, but its our job to find the clues that give you the conviction to make a trade.

Thanks for reading

- Mindset