$BTC Okay, here's a more precise approach based on the potential bull flag:
1. **Wait for Breakout:** Monitor the upper trendline of the consolidation (the "flag"). Look for a candle to close decisively above it with increased trading volume. This confirms the bullish continuation.
2. **Precise Entry:** Once the breakout is confirmed, enter a long position on the next candle, ideally near the breakout point.
3. **Stop-Loss Placement:** Set your stop-loss order slightly below the high of the last red candle within the flag or just below the breakout candle's low. This tightens your risk.
4. **Projected Target:** Measure the "flagpole" – the initial strong upward move before the consolidation. Add this distance to the breakout point to estimate a potential high-reward target. You can also look for confluence with Fibonacci extension levels or previous resistance.
Be ready for a false breakout, and ensure your stop-loss is in place!#TradeStories