So how do you trade a #Bitcoin or #altcoin range?
Here's an acronym that I coined to help me assess trades from Module 4:
"RaLEE"
- Range Established
- Liquidity Taken
- Entry Point Defined
- Exit Points Defined
This greatly helped me, so I wanted to share it with you
Range Established:
The range is established after a wick move down, up to the first swing high up
Liquidity Taken:
Liquidity is taken from the lows to fuel the move to the upside (or downside if bearish)
Entry Points Determined:
Once we see an MSB to the upside, we position ourselves in anticipation of further upside moves
Exit Plan - Using Market Structure
Exit Plan - Using Fair Value Gaps
Exit Plan - Using Volume Profile
Trade Example Outcome
So there you have it guys, a nice, short & sharp example of the simplicity of breaking down range trading in just a few tweets and detailed images.
If you're still stuck, shoot on over to the socials in the next tweet down
Discord
discord.gg/yFdcmbd8yt
Youtube
youtube.com/c/MindJacked
Telegram
t.me/Mindset_BTC
Cheers guys
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