Guys pay attention to the pivot points on the above chart. I have derived my calculation from another charting software, an Mt4 to be precise.
Take note of the following:
1. Red line - Weekly Pivot Point (WPP)
2. Purple line - Weekly Pivot Resistance 1 (WPS1)
3. Black line - Weekly Pivot Support 1 (WPS1)
If price continued its slide downward, WPS1 would provide a strong support and should stop price from falling further. On the other hand, should this support line is broken; which is very unlikely, then we can say that trend bias has changed in the $BTC.
Long entries can be opened at WSP1 and target WPP first, and then WPR1 as the final target.
Another angle to opening buy order(s) is to look for an exhaustive candle, since stochastic is already in the oversold area just in case price fails to reach WPS1.
Thanks for reading, and my the pips be with you all.
Take note of the following:
1. Red line - Weekly Pivot Point (WPP)
2. Purple line - Weekly Pivot Resistance 1 (WPS1)
3. Black line - Weekly Pivot Support 1 (WPS1)
If price continued its slide downward, WPS1 would provide a strong support and should stop price from falling further. On the other hand, should this support line is broken; which is very unlikely, then we can say that trend bias has changed in the $BTC.
Long entries can be opened at WSP1 and target WPP first, and then WPR1 as the final target.
Another angle to opening buy order(s) is to look for an exhaustive candle, since stochastic is already in the oversold area just in case price fails to reach WPS1.
Thanks for reading, and my the pips be with you all.
Dagangan aktif
Buy limit can be placed at the WPP, it's mostly that price will test this level before heading to WPR1.Dagangan aktif
I don't know how many people that followed this trade idea, but notice how WPS1 has held price from falling further.First target remains at the WPP and the second target at the WPR1.
Dagangan aktif
This trade idea is still very much relevant and First target remains at the WPP and the second target at the WPR1.It's most likely that price will not test the WPS1 again this week.
Nota
You will notice that I have not posted any idea on Daily Pivot Points, since on Tuesday. This is because, the Weekly Pivot Points analysis is still playing out.
BTC will test its WPP before the week runs out.Dagangan aktif
Can you see how fast BTC price is moving upward? BTC approaching its WPP now. Let's go guys.Dagangan aktif
First target reach (WPP) at 7023.8, next target is WPR1 at 7327.4. A close above WPR1 will take us to MPR1 at 9075.5.Dagangan aktif
Quick Update: Daily Pivots for Friday.DPP - 6901.4
DPR1 - 7311.4
DPS1 - 6645.8
If you're thinking of re-entering long trade or joining the current up trend, you can set a buy limit at or below the DPP. On the other hand, you should watch out for an exhausted candle like doji to place a buy order; just in case price decides to continue its upward movement without testing the DPP price level.
In conclusion, you can target DPR1 or WPR1 since both of them fall into same price area.
Dagangan aktif
The above pivot point levels for this week are no more relevant, check my profile for the updated data for next week.
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.