Boon2
Long

BTCUSD D1 Long Term View

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC I'm expecting to see either a running or expanding flat!

On the lower TF's you can trade the next impulses, as of now that will be the wave C up in the larger B

1) I want to see the internal B wave structure to complete by price breaking below the yellow line (to put it simply)
2) Once yellow line is broken you can then draw a TL on the lower TF's and wait for TL break and bull flag to confirm more upside to come.

This is a longer term view so I will be updating this idea as price plays out on lower TF's with potential setups, if you wish to get notifications of updates it might pay to follow me.

If you have any questions about my analysis, leave a comment. If you have a different or similar idea share your idea and lets discuss it.

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.
Oct 14
Comment: H1 setup theres no bull div on H1 so experienced traders can sell the flag
Oct 14
Comment: M15 and lower TF's not looking ready for more downside, Patience needed
Oct 15
Comment: H1 we are getting nice impulse up breaking Tl, wait for flag before buying for confirmation of more upside to come (Note I have noticed a big difference in price between different brokers so you will have to go with what your brokers prices look like
Oct 15
Comment: This is a good example of why we want to wait for bullish flag on lower TF to confirm more upside to come, ideally we want the flag to form above the broken tl
Oct 15
Comment: I'm getting very different price action between brokers, my broker has given correction down, my TV chart hasn't, so you will have to trade what you see
http://server.myspace-shack.com/d23/0196...
Oct 15
Comment: It looking like we are getting a bear correction on lower TF's, At this stage I don't see any buy setups As price broke below broken TL
Oct 16
Comment: H4 looks like we getting bear running flat so watch for this setup on the M15 for short scalp
Oct 17
Comment: H4 possible structures I see,  
Oct 18
Comment: Possible H1 bear flag setup
Oct 20
Comment: Looks like we are getting expanding or running flat for the B wave
Oct 23
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!
 
Oct 26
Comment: see the idea details for full rundown
Oct 31
Comment: Click on the chart and read the details for the update, Thank's
 
Oct 31
Comment: Now things have come a little more complicated since my last update. Price didn't break above red line before price dropped breaking the low so now we either have bear expanding flat for one more down (which only experienced traders should trade) or were going up from here. The H1 TL is holding at this stage so I don't see any buy setup. Inexperienced traders should just sit aside for the time being until we get cleaner setup.
Nov 01
Comment: Check out idea details for complete picture, Thanks
Nov 14
Comment: Got a couple nice trades on the lower TF in this idea and it's getting long so I made up a new idea. if you want to get onto a couple more good trades hit the thumbs up in the new idea to get all the latest update's.
The smart move to trade this would be to start accumulating in the upcoming drop towards the $5,700 range.
Accumulate on BitMex/BitFinex with small leverage will be a great trade.

I see your updated chart showing a possible up move already, but I believe the correction will be a bit deeper, we're not going up just yet.
Reply
Boon2 VForex
@VForex, Yes D1 I still think there's a little more downside to complete the H4 structure but on H1 we have TL break. I'll probably put out a H1 buy idea in the coming days.
Reply
Yup, I have the same vision for months now.
Very supportive of Anilmangal :)
Reply
Boon2 VForex
@VForex, Yes I use anils methodology to count waves but this is my count, not anils and unlike anil I show my counts as I have nothing to hide. LOL
Reply
Comment removed.
BTC is looking pretty straight forward on D1 and lower TF's, don't be fooled and trapped in longs following the sheep!

If you would like a detailed breakdown video on BTC let us know and if I get over 10 thumbs up I'll share some secrets and explain exactly what i'm looking at from D1 to M15!
+1 Reply
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