WaveTrader-2015
Short

One Leg up then Down

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
271 1 9
Building a Bear Flag next Leg .Long to 2600 Yuan then Short
The momentum signature is what Jeffrey Kennedy calls 'slingshot'. It typically occurs between waves 2 and 4. Wave 4 makes a higher low vs. wave 2, while the momentum oscillator corresponding to wave 4 makes a lower low versus wave 2. It is generally accepted to be the sign of higher prices to come.
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