@DevMurthy87 on BTCUSD | PriceONN Community

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DevMurthy87 PRO newbie
BTCUSD Mar 18
Well, my little scalp on BTCUSD just got stopped out. Went long around 71150, thinking that S1 pivot would hold given the low volume Asian session. Price dipped to 71025 and bam, -200 pips. Classic. At least the risk was small, but still a bit annoying when you expect a bounce. Guess the bears are still in charge.
BTCUSD

Replies (2)

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DevMurthy87 PRO newbie Mar 18
Still, the fact that we're trading below the 200 SMA on the D1 chart around 71800 is a pretty strong bearish signal overall. The price action today is just a small blip in that larger downtrend.
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DevMurthy87 PRO newbie Mar 18
Yeah, it's tough when liquidity is this thin. You see a level like S1, and theoretically it should hold, especially with the RSI already deep in oversold territory around 29. But without volume, even a small order can push price through those weaker levels. I was watching the 200 SMA around 71800 earlier, thought maybe we'd see a brief push towards it, but that's clearly not happening now. This range-bound action is just begging for some volatility to kick in, maybe when London wakes up. Just gotta be patient and not force trades in this chop. Maybe I should've waited for confirmation on the H1 chart instead of just jumping on the pivot.
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