BCHUSD 12 hour chart update

BITFINEX:BCHUSD   Bitcoin Cash / U.S. Dollar
This 12 hour chart gives me a strong sense of security. We are exactly where we need to be to see a strong third rally to the 900 -1000 range. This is clearly an area of strong resistance and so we can expect some choppiness here. But all the indicators and signals are lining up perfectly and I can see no bullish indication on this 12 hour chart. In the black circle we can just see the 200 MA beginning to appear so this indicates a move to this chart for a long term perspective and not only that but a bullish bonus is the 50 crossing through it. I am very confident here.

A second breakdown through the 200 MA on the 1 hour chart would invalidate and we would then have to reconsider and reanalyze the complex
Comment: Exiting at 777... will look for a better entry around 650
Comment: well maybe not quite that low but should get to 680 on this consolidation
Comment: the 4th wave structure has just completed and because of the formation we can re enter for the 5th wave to our final target
Comment: good thing i woke up and checked...
Comment: waiting for a confirmation of a flag breakout on the 5 min chart,
Comment: watching 3 min chart... 20 MA to reach the 50 MA... shouldn't take too much longer
Comment: should be okay to go long now if you were waiting for the confirmation.
Comment: target 100 but i will probably exit around 1080
Comment: remember we are watching a three minute chart... there is going to be some up and down price action. I'm holding to my trade plan. you can use tight stops but just don't make them too tight... lol...
Comment: BTC is crashing yes this is having an effect... maybe BTC will correct at 6500 range right? I'm staying with my BCH trade. I see this as temporary reversal/retest.
Comment: Yes this has not turned well for our rally. We will look for support on the 50 MA of the 10 min chart and wait for a reversal. I would not advocate a sell but do so to protect your capital if you chose. If this 50 fails likely I will also .
Comment: okay so far it is holding on the 50 MA 10 min chart... the 4th wave is always a tricky one. It signals the move to a larger complex. The 5th wave will be worth the wait and the losses will be recovered here. As long as we can hold here i will not sell.
Comment: broken through. Now to the 15 min chart to see if this level will hold. It is up to you but this will reverse very soon. Even if you want to just exit your best strategy now is to wait for the bounce rally.
Comment: We now have our bottoms in and reversals underway for both coins. What a test. Oh well we will be stronger and better traders for the experience.

Onwards and upwards. ..
Comment: Just remember to watch out for double bottom because it will need to find a support average.
Comment: If you are not back in I would say it is safe to Re enter. I held throughout
Comment: With this severe of a correction I would expect a sideways three wave consolidation and if you want to can attempt to better your position by selling at wave tops and buying at the bottoms.
Comment: guys there is also a possibility of correction downward in the consolidation And I have seen 4th wave corrections retrace substantially. We are now in a good selling position to consider this and re enter lower
Comment: again it would not be a bad idea to exit here and re enter on a new high point when we can be sure or wait for a lower entry.
Comment: I will make a chart once I see the structure better
Comment: now is your chance. we could retest 750 - 30 range and re connect with a 200 MA
Comment: Both trend lines must hold for a bullish continuation!

Comment: It is possible yes... the 50 is turning off the 200 MA
thisisfabiop thisisfabiop
@thisisfabiop, maybe not :) still targeting 1060?
MiljanMarkovic thisisfabiop
@thisisfabiop, my question too! can we get t0 1050 60 ? I got out at 905 but back in aat 960
what's happening?
it broke the trend down right?
Same Here, Thanks. This morning I was also lucky to sell and and start shoring at 876 :)
I listned to you! Got out at 835! :)
Maybe we wont get the chance to enter lower ? This looks strong!
Re entering?
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