$btc - hourly range Pivotal point still acting as resistance. Still using it as a local point to trade from. The pivot rejected price once back down towards midrange, midrange then held price again and now we're back up against the local resistance zone. Range plan continued This is still the area where I trade up against. Any rejection should be considered a short, and only an hourly candle move up and close above + retest should be considered a long. Shorts targeting midrange, big partial there, and further portions to range low. Longs targeting range high + deviation above. From current price and the pivot, both moves are $1000+, which is enough to work with currently. High timeframe, plan is unchanged, but imo this range forms first, which is what we are indeed seeing. We look to trade what we see, which is right here in front of us. Outer bounds of the range Looking further into the future, outer bounds of the range, are currently to my (early) estimation: 87.3k above and 83.5k below. Those two levels are swing trading points of interest to me, logically where I look for a deviation to trade back inside the range. More eager to trade off the 87.9k nPOC short, but if we hit the 83.7k crucial support early on where a bounce is logical, then I'm not going to ignore it as if we are guaranteed to break down just because I'm biased towards 75k. Context matters and if I am still right on that level, then it will have to be timed properly. I personally think we will see 87.9k first. A range often is deviated both ways before it breaks so that's good for us. Execution - summary So to summarize execution and plan: locally still managing the long in my mind. Local shorts if further rejection from local pivot. Local longs if clear reclaim + retest. Swing trading points of interest are at the outer bounds of my range: 87.9k nPOC area, and 83.6k below as crucial support, only longed if it hits early in the context of this forming range. Using some vague terns such as "reclaim" and "retest", "early" etc etc, they are indeed vague and dubious so will be calling out my entries live as per usual, keeping integrity and transparency. As stressful as it is sometimes to deal with a potential loss and an audience seeing those potential losses, some is true for wins. And real execution caries educational value and, is rare, so we're keeping that. Speaking of... ...further execution notes The current active trade "was" the long I shared Yesterday. Unfortunately fumbled as you know after a long day of trading. Management would have been the same as per usual: first TP after an 700 move up, conveniently ends up in the resistance zone. If you're expecting rejection, I'd aim to TP more than half of the trade up against 86.5k, if you expect a a move above 86.5k, then less than half, in both cases imo keeping the trade risk free with the following formula: TP % = 1 / (1+ Current RR) 86.5k is about 1.8RR away so the minimum amount to keep a trade risk free is 36% TP'd. Comment on mindset In my mind, I am still managing this long, because if I don't, it might force me more eagerly to take a fresh trade more which is forcing trades. Still in the recovery process personally so keeping eagerness away is good. Overall happy with the trades Yesterday, not a single one was bad/ended up failing. At worst be/a fumble. High timeframe, still expecting 75k by the way, and I am looking to post my execution plan on that soon, explained in large detail. But as of now, we're ranging.
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