No need to take long to explain what I see here... It's pure and simply a low risk short setup confirmed by both PRO Sinewave & PRO Momentum. The last Sinewave signal was a BEAR, confirmed by overbought signal on Momentum (so that's a valid bear trading signal). This signal got rapidly confirmed by a Sinewave BREAK pattern... at this point, things are pretty nasty... if bulls don't take things over rapidly this will get serious ! Anyway, I think the risk/reward ratio to enter this short setup worth trying to trade this.. I missed the BEAR signal and the BREAK (away to see family...) but I'm entering anyway. Trying to catch an eventual 4 point retracement based on this probable Elliott count.. Invalidation is simple, if prices break above the Wave 2... the count is invalid and I prefer taking the stop to eventually look forward to other shorts later.. Or not at all if it gets really bullish again..
Targets are easy to plot, I expect an extended wave 5 to search for a major C point. Extensions points to two narrow clusters... near 6000$ and 3000$. I'll take profits on the first one, eventually consider buying bitcoins if I get a signal... otherwise wait for 3000$. Anyway I wont remain short leveraged under 6000.
Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
Komen
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slowly moving towards the objective.. 5m charts tends to confirm bullish support here that suggest we may have found B point. Which allows me to anticipate an put some fibonacci extensions on price and time to forecast the target zone in which I'll be searching shorts ! It suggest arrival near 6am..(in my local time) so I'm heading to bed and I'm starting the auto entry algo to trigger the trade if I have a signal into the specified area !
Komen
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Still no signal on H1 timeframe.. maybe a double three correction to take place.. Anyway I don't enter without signals... So I'll either wait to have one, or enter on bearish breakout of the latest B point of the chart
Komen
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Final stage coming soon.. Sinewave H1 is giving the pre-signal. It's time to look m5 timeframe for a short setup entry close to the target area. Easiest way to do that is to set an alarm on Sinewave for bearish confirmation signals. And trade it if one is happening around 14000$
Dagangan aktif
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Do I need to say it ? Signal inside the expected price area.. Of course I took that. I'm now short on BTC
Dagangan ditutup: hentian tercapai
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Need to exit the bearish side.. Despite the multiple bearish signals the prices don't want to drop. I decided to step out and wait for better informations. Still looking to the downside but the recent price action contradicts that. So I'm switching back to neutral ;)
i think we might have 2 opertunities to sell at 13.5 k. now, around 2.00 tonight. And another one after hitting 11.5k it will back to 13.5k and after that it will go down to 8.5k. Good chart, i like it! and u're gonna buy zone 1 and 2 ? and in % how much u will buy when ? (just a curious young trader) :p
Fish40
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@Fish40, or u might be right, we will go directly to 11.5k and then to 13.5k. excuse me
terrahigh
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@Fish40, so now its 12.700 , but it will drop to 11.5k ? should i sell?
Fish40
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@terrahigh, i think it will go up to 13.5k (but i don't know for sure like everybody). well if u wanna be sure u can sell and see what happens, i did that, but at higheer prices, between 14-16k. So hard time for u i'll get it :) but if ur a believer u can't do wrong in 2019 it will be 100k :p
bedtime story
reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
PRO_Indicators
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@Fish40, Obviously I'm a long term buyer of BTC. just selling this stupid pricing made out of fools who thought they'll make easy money ! This will pbly cause a market collapse and give me much more affordable price to re-open a wallet at 6000$ or 3000$. And of course the sell I'll make via CFD contracts, will pay the wallet ;) So it's basically free bitcoins for me if the collapse comes to reality
Fish40
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@PRO_Indicators, well same here but i just don't wanna miss out :) 11.5k is even nice to get in but 3k is even better. Indeed free coins for newyear! well we will just see, but i think i will make the trade at 11.5k and then when it goes bach to 13.5k i'll sell and go for lower prices, dunno what thats gonna be. Might be nice if it stays around 3-4k for like a few months :)
PRO_Indicators
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@Fish40, Totally into that.. for now, I'm waiting the price to reach the target zone... then I'll wait for signals. If not I'll stay out !
@Fish40, the only difference to me is about the 5th wave, I see high probability to have an extended bearish wave, tupypically between 261-361% of wave 3 and prices breaking down the trend channel's bottom