A Quick, Basic Trade Setup
A Quick, Basic Trade Setup
Using Harmonics + Fibonacci to find confluence
Hello satoshi snipers!
I already shared this on Twitter (and YouTube! Bringing it back!) but I definitely wanted you all to take a look as this is essentially how I do most of my trade setups.
What you’ll see is how I put together a harmonic pattern and then use the Fibonacci Retracement Tool in TradingView to get an idea of where this PRZ might have confluence for a trade.
The risk is that it could either blow through that harmonic pattern and PRZ thus wiping your tight stop-loss out of the picture and giving MM’s more liquidity, or it’ll touch, fall apart, and then melt down or up, depending on volume.
What appears to be happening now is still ranging in a larger Darvas Box and Accumulation (via Wyckoff); so, I want to be wary of any longs and if I do take them to be tight with my stop losses and super-accurate with my orders. For instance, I cop’d this almost on the nub:
The better equipped you are with multiple zones of confluence and signal you can achieve some pretty dope entry points, leaving very little on the table and taking from the market makers everything; they don’t need the money or satoshis, we do.
Good luck satoshi snipers! I hope to do more of these videos in the future. Make sure to follow on Twitter or subscribe to the YouTubes.
To infinity & bitcoin,
— 8ɃIT
After this you may want to review how I set up the trades for an entire week:
Let me know if you have any questions! Hit me up in Discord Chat!
A Quick, Basic Trade Setup