BTCUSD position strategy, Day 7 of 100DAYSOFTA

Yesterday we had an interesting price action. The BTC priced dipped and recovered nicely.

__ I am joining a challenge by a group of traders. The challenge is #100daysofta. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive. The convener of this challenge is https://twitter.com/CryptoluXP However, the frequency might not be daily but it will be sequential. Having said that, here is what I have: __

This is my entry for the 100DAYSOFTA challenge, Tuesday 16 th June 2020.

I will be showing the charts on 4h, 1 h and 30 m TF and also, showing us CME charts gap since January 2020 and my position.

Like I always explain, I will be using ST and Willy for today's charts.

4h On this TF we already have the short fired on the ST. Willy is also getting overbought. This signifies a caution. It is worth to note that Willy can stay at the overbought region for long. TheST showing short means that we should look for the best position to take a short on the trade. Since the TF is high enough, this signal works more accurately.

https://www.tradingview.com/x/gYWAjLzZ/

1 h Here we are flirting with the resistance on the ST. One thing to note is that it might break and move up, which will flip the ST to long. However, to have a plan, one is supposed to look for a short position as indicated by the ST with a reasonable stoploss. The Willy on this trade is also extending in the overbought region; meaning we cant rely on the Willy signal until there is a perfect weakness in the price action.

https://www.tradingview.com/x/6unpKKbr/

30 min We are flipped to the long on ST. Willy shows that there may be some upside move as well as downward move (Indecisive willy).

https://www.tradingview.com/x/LUSwMcLu/

My Position

Best trading avatar is 4h(my choice). This means that I will most likely follow the 4h charts. I will be looking for a short at two price range, 9650-9700, and 9850-9900, stoploss at 10045, target 9081. Please, trade fails and for once dont take this seriously.

https://www.tradingview.com/x/WMmFvlTM/

Below are the gaps on CME charts for this year so far:

The theory of GAPS in the BTCUSD chart is not something we are not used to. But the question is how do we profit from them? As we all know, trading is a probability, so there is an element of losing. However, not taking action is not helpful as well. I want to show us the CME gap that we have. Since the gaps didnt follow any pattern, I will not be offering any suggestion, but I will say 90 % of gaps get filled.