Crypto Academy / Season 3 / Week 3 - Homework Post for @cryptokraze | BRB

Based on the Market Structure Break that we learned last week, the BRB Strategy addresses the price behavior that might continues and breaks relevant levels of previous supports or resistances but goes a little back in form of a swing and then, as it's taking now a new impulse from that point, it crosses beyond that level. You can check what I'm talking about by seeing the next picture I've created to illustrate it. Notice this is like a frequent pattern that can be repetitive and we will be taking advantage of this with a proper knowledge and strategy.

As the price is always changing, support and resistance might be dynamics and get reconsidered any moment when occurs a sudden breaking of the market, as soon as we see on support or resistance case. Let's see them carefully.

In first place, it's presented an initial upward impulse crossing a relevant resistance, followed by a swing that reaches the retest point when it's a bit back against this impulse and then it breaks again to continue going up.

In first place, it's presented an initial downward impulse crossing a support resistance, followed by a swing that reaches the retest point when it's a bit back against this impulse and then it breaks again to continue going down.

In an obvious bullish trend, It's necessary to wait until the break of a relevant resistance through green candles. This is gonna be our stop loss.

Once this happened, there must be a consequential pull back making a swing movement that generally reaches the resistance level again.

Next stage it's the continuation of the upward movement making a new break that will be our neckline, keeping the bullish trending.

Over here we quickly place a buy order calculating a 1:1 or 1:2 Ratio Reward RR, where we can set the sell exit.

In an obvious Bearish trend, It's necessary to wait until the break of a relevant support through red candles. This is gonna be our stop loss.

Once this happened, there must be a consequential pull back making a swing movement that generally reaches the support level again.

Next stage it's the continuation of the downward movement making a new break that will be our neckline, keeping the bearish trending.

Over here we quickly place a sell order calculating a 1:1 or 1:2 Ratio Reward RR, where we can set the buy exit.

At the BTC-USDT pair from Binance exchange, I was monitoring the price until I saw an important bullish that crossed the resistance level of 33.160, then made a swing at 33.240 and finally the value got pull back towards the point, so I did a Buy Entry order when it had a break in 33.260, with a RR setting of 1:1 (Stop loss and Profit). But later, price never reached the profit level of 33.340, so a Sell Exit order of 33.140 was executed to avoid a higher loss.

At the BTC-USDT pair from Binance exchange, I was monitoring the price until I saw an important bearish that crossed the support level of 33.075, then made a swing at 33.000 and finally the value got pull back towards the point, so I did a Sell Entry order when it had a break in 32.995, with a RR setting of 1:1 (Stop loss and Profit). But later, price never reached the profit level of 32.895, so a Buy Exit order of 33.080 was executed to avoid a higher loss.