Trading Idea 29 July 2024- BTCUSD Short

After reviewing my open positions, I was faced with the reality that I wouldn't be able to participate in this trade.

It looks like an obvious engulfing candle on the daily chart and the price has already rejected from $70K. This chart is a mark up of the Quarter's Theory.

I can see it targeting $60K and then tumbling below $50K. Currently, I have open positions on AUDNZD.

These trades were entered based on intuition. I don't know if that is a good or bad thing. I would guess that would be a strong reason to close them. Also, this isn't my trading edge exactly.

I took a SELL based on a H4 Trigger and it was a inside bar pattern.

As I look closely, the bullish candle prior to the current one didn't close above the stop yet-I will hold it.

This was a poor trade just due to the fact that I didn't technically create the plan nor write it down- It was a stellar trade due to the fact that I could see the levels in my mind and I didn't have to put them on the chart.

Trading is weird.

-TL