Finding some support around 6500, its possible this might be the swing zone into a bull run pullback to wedge break zone resistance. If wave 1 holds and the pullback does not break structure i will be looking for a few day bull run up to said levels. I was expecting it to hit 6500 round number or 6000 before the bulls could accumulate whats needed to rally for...
Looking for a completion of the ABCD and a possible nice short scalp zone
If we get a pullback from 0.236 fib zones at current price action I will be targeting 1.618 zones at around 6000. Breakdown of structure and previous low would verify target and direction. currently in a intermediate bull run.
Looks like price action has completed the ABCD and broken the lower channel trend line. The long term wedge and short term wedges have broken to the downside aswell. I am looking of an extension tail for the abcd down to major support levels around 8200 where the previous floor will be tested. Bias is still short until higher highs and momentum favors the bulls.
Tracking Bitcoin over the past week has shown me how amazing this market is for scalping and short term swings. The price action is volatile both short and long creating wonderful 1-2 day swings and 2-5hr scalps. I am noticing fractal harmonics and structure breaks being the most common patterns and most profitable methods to use when trading this market. The...
Daily and 4hr Charts - Patterns and Levels to Watch
Looks like price action is approaching the upper channel resistance zone and .236 fib. If we get a breakdown from here i am targeting 1.618 fib zones +/- Trend has been bearish the last few days so until price closes above upper channel trendline i am bias on the shorts
Patterns & levels to watch for on the weekly and 4hr charts
Looking at an abc breakdown back into previously established range if there is a head and shoulders neckline break. If we get a rally out of the wedge and an abcd up to 1.618 fib and 5 5 extension, which is possible due to the major bull momentum from the previous few weeks. Currently consolidating into wedge scalping the smaller waves.
Looking at potential harmonic patterns and key levels to watch for in the coming days
Looks like we are in a wedge consolidating at current support. i am looking for a test of upper wedge trendline and tighter price action as we approach fomc. news might be enough to give an idea of direction out of the wedge and see which one of these harmonics will play out. I am staying out of anything other than scalps for eu until it gives me an idea of which...
Looks like price action is at a crucial level here, watching for the breakout to upside or rejection and sideways range. In a nice upward channel respecting trend lines well, watching for a break down thru channel trendlines if there is not a follow thru and break of neckline and a follow through for the bulls
Fibonacci levels and 100% extension diamond of major wave1 , upward bullish channel is support for any pullbacks, looking at a possible test of lower channel before extending too much higher. watching for short levels at upper channel resistance and buy levels at lower support... currently waiting
Looking at a long term wedge and bouncing price action within the descending channel as we head towards the tip
Wedge Broken to Upside for a small scalp
Price action is currently wedging in a sideways wave 4 heading towards 0.236 fib levels of the last completed 5 count elliot wave. In the past this pair like to make alost full pullbacks so I could see it heading down to said levels breaking this wedge to the downside wave 5 short. I will not be taking the trade until i see a direction out of this current...
Momentum is currently bearish long term and mid term. Price action is in a mild downward channel ranging mid term sitting at 0.236 fib support zones from leg d of the previous abcd. Looking for a small push up towards upper channel resistance which would make a nice head and shoulders pattern to get in short at 106.415. If price level hits I will be looking for a...