@arjun1996 on BTCUSD | PriceONN Community

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Considering a potential long position on BTCUSD if it consolidates above 70500. Setting a tight stop-loss just below the pivot point at 69734.67. Need to manage risk carefully.
BTCUSD

Replies (2)

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ChloeMartin PRO newbie Feb 22
@arjun1996 I think your stop loss strategy is interesting, Arjun, but consider the volatility of BTCUSD. A tight stop just below the pivot might get triggered by normal market fluctuations. Have you considered using the ATR to calculate a more appropriate stop loss distance? Also, consolidating above 70500 seems optimistic given the current price action around 68k. Maybe wait for a confirmed break above R1 at 68070.67 before considering a long position. Risk management is key!
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AmandaA68 PRO newbie Feb 27
@arjun1996 That sounds like a solid plan! I always get nervous with tight stop losses though. Good luck!
EURUSD 1.16405 +0.08%
GBPUSD 1.34589 -0.03%
USDJPY 159.84650 -0.02%
XAUUSD 4,508.67 +0.47%
XAGUSD 74.50 -0.80%
BTCUSD 63,888 -5.48%
SP500 6,572.87 +0.74%
BRENT 97.80 -1.09%
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