Bitcoincash mid-term trading setup for long position

10 Nov 2018

Here is BCHUSD, Bitfinex 4hr.
This trading setup was designed with an assumption that the up-going wave cycle started from 10/18 is an impulsive wave.
For now, it has retraced 0.5 fib level.
Referring to the recent suuport/resistance and fib retracement levels, some decent long entry points could be deducted as shown in the chart.
A general risk reward ratio was computed with the average EPs and TPs for this setup.
Of course the ratio should be computed for each EPs and TPs disparately for more accuracy.

13 Nov 2018

Nota

EP1 entered