Hi all
What a sick 24 hours this has been ! If we are lucky, we can soon party like its 2017 again !
I believe many (especially new) traders have a hard time taking profit and actually selling. I know i struggle with this. Greed takes over, and I want to ride it just a little bit higher. Or, "this is going to bounce and move further up" - hopium. Bears are probably better at this.
Yesterday I sat there watching this topping pattern emerge in front of my eyes, I even drew it up. Did I sell ? NO !
So I decided to look closer at this pattern, and make this chart as a reminder to myself. I hope some of you find it helpful as well.
Its the WXYXZ pattern :
its an ABC down, then a quick ABC up ( to about 0.618 of the first ABC down move. So it makes a lower high)
-this new lower high is the "X" this is where we sell it ALL. ( or short) from here it wil go a lot lower. Usually 1.618 of the first ABC down, measured from the "x".
This takes BTC now to around 10.200 USD.
So, dont ride it down ! Sell the X ! yesterday that was 11.150.
to sell 11.150 , and re-enter 10.200, you get almost +10% btc for your money.
---
Other times this has happened :
---The famous 2017 top - 20k---
-Sell the X - 16500 USD.
-Buy the 1.618 down at 3139 usd. ( close enough !)
---2019 June 14k top---
-Sell the X - 12350 USD
-Buy the 1.618 down at 6300. ( corona brought us briefly lower, keep buying)
---2013 top---
Obviously, if you sell the actual top , thats totally cool :) Let me know where the top is !!! :)
What a sick 24 hours this has been ! If we are lucky, we can soon party like its 2017 again !
I believe many (especially new) traders have a hard time taking profit and actually selling. I know i struggle with this. Greed takes over, and I want to ride it just a little bit higher. Or, "this is going to bounce and move further up" - hopium. Bears are probably better at this.
Yesterday I sat there watching this topping pattern emerge in front of my eyes, I even drew it up. Did I sell ? NO !
So I decided to look closer at this pattern, and make this chart as a reminder to myself. I hope some of you find it helpful as well.
Its the WXYXZ pattern :
its an ABC down, then a quick ABC up ( to about 0.618 of the first ABC down move. So it makes a lower high)
-this new lower high is the "X" this is where we sell it ALL. ( or short) from here it wil go a lot lower. Usually 1.618 of the first ABC down, measured from the "x".
This takes BTC now to around 10.200 USD.
So, dont ride it down ! Sell the X ! yesterday that was 11.150.
to sell 11.150 , and re-enter 10.200, you get almost +10% btc for your money.
---
Other times this has happened :
---The famous 2017 top - 20k---
-Sell the X - 16500 USD.
-Buy the 1.618 down at 3139 usd. ( close enough !)
---2019 June 14k top---
-Sell the X - 12350 USD
-Buy the 1.618 down at 6300. ( corona brought us briefly lower, keep buying)
---2013 top---
Obviously, if you sell the actual top , thats totally cool :) Let me know where the top is !!! :)
Nota
this is an alternate :Nota
Pattern doesnt seem to fit - I believe BTC is going higher, like in the alternate idea
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.