BTC/USD Forex Signal - Monday, Sept. 25

Last Wednesday’s signals were not triggered, as there was no bullish price action when the price reached $3844.07.

Today’s BTC/USD Signals

Risk 0.75% per trade.

Trades must be taken before 5pm New York time today.

Long Trades

Go long after a bullish price action reversal on the H1 time frame following the next touch of $3629.46 or $3427.30.
Put the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is $50 in profit by price.
Remove 50% of the position as profit when the trade is $50 in profit by price and leave the remainder of the position to run.

Short Trades

Go short after a bearish price action reversal on the H1 time frame following the next touch of $3807.86 or $4115.86.
Put the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is $50 in profit by price.
Remove 50% of the position as profit when the trade is $50 in profit by price and leave the remainder of the position to run.

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

BTC/USD Analysis

Things have calmed down a lot. Neither bulls or bears are in control, there is an equilibrium in the price and volatility is falling. Support and resistance, as well as trend lines, are mostly being respected. I see both long and short trades from rejections of key level as having equal potential today, having no directional bias.

(Click on image to enlarge)

BTCUSD