@SkierMichael on BTCUSD | PriceONN Community
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Another rule I stick to: always have a plan for both scenarios. What if BTCUSD breaks up? What if it dumps? Where's my entry, where's my TP, where's my SL? If you can't answer those questions, you're gambling, not trading. Gotta stay disciplined.
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@SkierMichael Totally agree with the planning! I always have my levels set before entering a trade. But sometimes, even with a plan, the market just does its own thing lol. What do you do when your plan goes completely sideways?
@SkierMichael Your point about having a plan for both up and down moves is spot on. It’s easy to get caught out when you’re only focused on one outcome. I usually draw out my potential entry zones, resistance levels for TP, and then set my SL well below any significant support. For BTCUSD, I've been looking at that 73k area as a potential support if it dips, and then aiming for maybe 75k or even the 75386 pivot if it breaks higher. But honestly, with how volatile things can get, I've learned the hard way that even the best plan needs some flexibility. Sometimes you have to adjust your SL or even exit early if the market sentiment shifts dramatically. What's your approach when the market throws a curveball and invalidates your initial setup?