Broad bottom formation
1. Find strong support level
2. Retest support level
3. Big volume full bar signal
4. Start swing trade.
Broad bottom - is formation via double bottom , reversed H&S etc.
Signal is important.
Timeframe is important.
If you swing correction after 1-2 months of fall - doesnt need to watch timeframes less than 12H.
If you swing correction after 1 week of fall - doesnt need to watch something less than 4H.
Points where you can enter positions:
* Near strong support (watch past levels, fib, BTCUSD + BTC-pair supports) - Agressive style
* With start of trade signal (because sometime it can be first impulse wave - usually for bull market) - Agressive style
* First pullback after trade signal - Classic style
* Rising after signal pullback - Classic style
Take profits levels - depends from resistance lines, fib-levels, BTCUSD, BTC-pair.
If it correction before falling down:
* For BTC and old currencies can be around 10% (or less, or more)
* For new and small currencies can be around 15-25% (or less, or more)
1. Find strong support level
2. Retest support level
3. Big volume full bar signal
4. Start swing trade.
Broad bottom - is formation via double bottom , reversed H&S etc.
Signal is important.
Timeframe is important.
If you swing correction after 1-2 months of fall - doesnt need to watch timeframes less than 12H.
If you swing correction after 1 week of fall - doesnt need to watch something less than 4H.
Points where you can enter positions:
* Near strong support (watch past levels, fib, BTCUSD + BTC-pair supports) - Agressive style
* With start of trade signal (because sometime it can be first impulse wave - usually for bull market) - Agressive style
* First pullback after trade signal - Classic style
* Rising after signal pullback - Classic style
Take profits levels - depends from resistance lines, fib-levels, BTCUSD, BTC-pair.
If it correction before falling down:
* For BTC and old currencies can be around 10% (or less, or more)
* For new and small currencies can be around 15-25% (or less, or more)
Comment:
Example of trade without signal (pattern is good but pattern not activated)
Comment:
Example how recognize broad formation.
Comment:
EDUCATION END.
Example of success broad bottom formation. Same in the XRP.
Thank for reading.
Example of success broad bottom formation. Same in the XRP.
Thank for reading.
