H4 I'm looking at it as a correction up at this stage and the possibility of a Z down (see H4 idea). There is a few structures that could play out on H4 including a internal running flat for more downside from the current impulse up. This is why care must be taken when trading either direction. H4 there's nothing confirmed a bottom is in place!
H1 I'm looking at it as a expanding flat in wave B before we see the C up. There is no buy setup at this stage looking at price action and we could get a bear flag for more downside before we get the C up so we need to wait and see what flag we get, if it's bearish flag you can take it and get it to BE ASAP because we don't know how deep internal C wave down will go and may even break the low.
H1 if we get a bullish flag before price breaks the invalidation point you can take the buy and it is a buy you don't want to miss! Depending on the structure wave B end's up giving us will deter-man if we can expect a C up or Y impulsive move up.
I'll update the idea if I see something interesting, Trade with care and wait for confirmation before entering any trade!
BTCUSD H4 Correction up Idea. Checkout the idea detail's and update's so you can get the complete picture of what I'm currently looking at. Thank's
BTCUSD D1 Long Term EW Analysis. Get all my update's in one place by hitting the thumbs up, Checkout the idea detail's and updates for the complete picture thank's.
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 and you get update's.
Thank's to all the traders in advance that hit the thumbs for your support!
H1 I'm looking at it as a expanding flat in wave B before we see the C up. There is no buy setup at this stage looking at price action and we could get a bear flag for more downside before we get the C up so we need to wait and see what flag we get, if it's bearish flag you can take it and get it to BE ASAP because we don't know how deep internal C wave down will go and may even break the low.
H1 if we get a bullish flag before price breaks the invalidation point you can take the buy and it is a buy you don't want to miss! Depending on the structure wave B end's up giving us will deter-man if we can expect a C up or Y impulsive move up.
I'll update the idea if I see something interesting, Trade with care and wait for confirmation before entering any trade!
BTCUSD H4 Correction up Idea. Checkout the idea detail's and update's so you can get the complete picture of what I'm currently looking at. Thank's
BTCUSD D1 Long Term EW Analysis. Get all my update's in one place by hitting the thumbs up, Checkout the idea detail's and updates for the complete picture thank's.
Thank's to all the traders in advance that hit the thumbs for your support!
Comment:
Here is my H4 ALT count to make the detail's in this idea clearer for those that follow me and why I will take the short if get nice bear flag here on H1. We wont know for sure it's a running flat unless the low get's broken. The main thing is to wait for a nice flag before buying or selling like I mentioned in the detail's and to get any trade to BE ASAP. I am still going with the H4 and H1 ideas I put out there due to the current price action at this stage but it's important to know the alternative's when there is.
Comment:
H1 we got the break of the flag to the downside as per my idea. It wasn't a very nice flag as price never gave a higher high so the sell stop at the low of the flag would have been the best entry, if your in the short SL should be just above the top of the flag or moved to BE. For those looking for the buy we need impulse up and bull flag to confirm more upside to come before entering the market for the C wave up.
Comment:
If you took the bear flag that was forming when I put this idea out you should be stopped out at BE unless you still had the SL above the high of the flag and took a small hit. look like we might be getting the start of the H1 C up. Be patient and wait for bull flag on M15 before looking to buy 1st targeting the H1 100fib.
Comment:
Were getting nice bull flag, wait for solid break and you can take the trade.
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Well I didn't think I would have to do an update so soon LOL.
This is a good example of why we need solid break of flag before entering. Now we don't have a nice buy setup and am thinking were getting an expanding flat in the internal B wave of C down.
M15 experienced trader's can look for the sell scalp but wait for a nice bear flag to form.
This is a good example of why we need solid break of flag before entering. Now we don't have a nice buy setup and am thinking were getting an expanding flat in the internal B wave of C down.
Comment:
Looks like we got a solid H1 TL break to the downside, wait for bear flag on the lower TF before scalping the short before looking for the wave C impulse up.
Comment:
I'm still more interested in the buy, I would like to see impulse up breaking TL and bull flag to confirm more upside to come before jumping into the buy. Short's are risky in my view with the bullish internal divergence forming.
Comment:
Getting nice bull flag, look for the buy!
Comment:
Bear flag forming but risky to take as it may just spike down and shoot back up forming bullish divergence. Look for buy setups. If you in the trade you may get a chance to add, if your not in the trade you may get nice buy opportunity.
