BTCUSD Trade Log
2024-11-02

Trade Setup (2/11/2024) - BTC Short in 4H FVG

1. Setup: Enter a short position at the 0.5 level within the 4-hour Fair Value Gap (FVG), identifying this as a potential resistance area for a bearish move.

2. Entry strategy:
   - Target: 1:3 RRR.
   - Risk: 1% of account.
   - Entry confirmation: Wait for the price to reach the 0.5 level of the 4H FVG and observe bearish signals, such as a reversal candle or rejection wick, before entering.

3. Stop-loss and take-profit:
   - Place stop-loss above the upper boundary of the 4H FVG to limit risk.
   - Set take-profit at three times the stop-loss distance to maintain a 1:3 RRR.

4. Additional considerations:
   - Be aware of any upcoming macroeconomic news or events that could affect BTC's price movement and increase volatility.
   - Ensure that price action confirms your bias within the FVG to avoid premature entry.

