It looks like there's a possibility of a bear flag for more downside, I'm targeting the 123.6fib because ideally I would like to see the H4 internal b wave broken but time will tell.
1) Need to see price break above red line
2) Yellow line up the top invalidation point
3) Want to see an impulsive H1 solid close breaking the TL before taking sell
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H4 analysis of possible structures
1) Need to see price break above red line
2) Yellow line up the top invalidation point
3) Want to see an impulsive H1 solid close breaking the TL before taking sell
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup.
If you have any questions about my analysis, leave a comment and If you have a different or similar idea share your idea and lets discuss it.
H4 analysis of possible structures
Comment:
We never got the price breaking above red line to give a nice flag. Now it's looking like we are possibly getting running or expanding flat for the B wave, you can still look to scalp wave C down before looking for buys
Comment:
H1 current count, look for solid TL candle break and bear flag on lower TF before entering the short.
Comment:
BTC H1 is very slow, this mean's it's corrective.
If you took the last update TL break and flag on lower TF move to BE, price action is not looking impulsive to the downside.
Its looking like we are getting more complex correction on H1, Experienced traders can take the buy on TL break if the lime lines holds, if it doesn't hold leave it alone. It will only be a scalp up so move to BE ASAP and look for bearish price action above the red line for TP. Where C up ends is anyone's guess.
The larger Impulse is to the downside, This is the trade we don't want to miss!
If you took the last update TL break and flag on lower TF move to BE, price action is not looking impulsive to the downside.
Its looking like we are getting more complex correction on H1, Experienced traders can take the buy on TL break if the lime lines holds, if it doesn't hold leave it alone. It will only be a scalp up so move to BE ASAP and look for bearish price action above the red line for TP. Where C up ends is anyone's guess.
The larger Impulse is to the downside, This is the trade we don't want to miss!
Comment:
BTC sellers still building positions for the next Impulse.
We still haven't got a break above the red line so this is still not out of the question for more complex structure, scalping longs is only for experienced traders as you see in the last update, price broke out spiked up and came back down.
Upside for now is limited the larger impulse is to the downside so selling any bear flag is the best option in my view
We still haven't got a break above the red line so this is still not out of the question for more complex structure, scalping longs is only for experienced traders as you see in the last update, price broke out spiked up and came back down.
Upside for now is limited the larger impulse is to the downside so selling any bear flag is the best option in my view
