My first published chart, so be gentle.
I'm no EW expert but my count makes this a potential short term environment with some upside to go still.
We are in a subwave of wave 3, with the final leg to come, possibly reaching $256. (purple point 3). Whether we continue the larger wave 5 from there remains to be seen, if we do, then a target of 262-265 seems reasonable. The potential upside here is not great so the risk/reward is not good
A breach of $249 on the downside would invalidate the count for EW, but 248-242 may be a support area, looking at s/r lines and the lower trend line (red dotted). So any stop/loss would really depend on trading style, price action, volume and rsi during any potential fall.
Stop/Lossing with BTC is very difficult as there seems to be a lot of S/L hunting.
As I say I am very basic at EW - if you want an expert in EW check out DanV.
This is just an idea amongst a myriad of possibilities and is by no means a recommendation to trade this. I welcome any pertinent comments, as I'm always looking to improve.
Thanks.
I'm no EW expert but my count makes this a potential short term environment with some upside to go still.
We are in a subwave of wave 3, with the final leg to come, possibly reaching $256. (purple point 3). Whether we continue the larger wave 5 from there remains to be seen, if we do, then a target of 262-265 seems reasonable. The potential upside here is not great so the risk/reward is not good
A breach of $249 on the downside would invalidate the count for EW, but 248-242 may be a support area, looking at s/r lines and the lower trend line (red dotted). So any stop/loss would really depend on trading style, price action, volume and rsi during any potential fall.
Stop/Lossing with BTC is very difficult as there seems to be a lot of S/L hunting.
As I say I am very basic at EW - if you want an expert in EW check out DanV.
This is just an idea amongst a myriad of possibilities and is by no means a recommendation to trade this. I welcome any pertinent comments, as I'm always looking to improve.
Thanks.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.