H1 we broke the low so I think were in the Z down with forming. wait for impulse up breaking yellow TL and to confirm more upside to come before jumping in to the buy (see H1 pic) targeting the 38.2fib retracement
If I'm correct and we are at the start of the H4 correction it could be quite choppy for the next few months so trade with care!
You can look for buys on the lower time frames but be sure to move to BE ASAP as I expect it will be choppy going off previous price action.
Were entering the Christmas holidays so we may see increase in due to less order's placed in the market so take this into consideration when calculating your risk!
I won't be around much until after the new year so Merry Christmas everyone and enjoy your time with friends and family over the festive season!
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H1 count. Look for Impulse up breaking TL and before entering market.
We have an A up with ABC in B wave so start to look to buy the C up. I will be looking for impulse up on lower TF, bullish flag to confirm more upside to come before jumping in.
H4 possible 333 complex correction structure I see.
M15 chart i'm looking at a possible expanding flat at this stage but as we should know BTC loves to give long drawn out corrections so...... let's see
Were in the larger H4 correction and trading corrections is a risky business as no one knows what the correction will end up becoming so it's reserved for the more experienced trader's. At this stage the structure of my original idea of the simple ABC internal correction has not changed but as anyone that's studied EW will know we could get a flat correction in H4 wave X with price breaking the low before giving the C up to complete wave X.
Nothing has changed from my original idea and price action is confirming to me even more that this is only a correction before we get the H4 Z down, The low is not in place in my view!
At this stage I'm still expecting the H4 internal C up so experienced traders look for the buy's or if your in a trade be patient and wait for the C up.
I am still of the view of my original idea that this is just a correction before we get the Z down.
BTC D1 Wave C up, Running or Expanding flat.
If the low get's broken I think the internal structure then will be either running or expanding flat and my SL will be hit but I defiantly do not want to be in the trade if the low gets broken.
If the low does hold and I get impulse up and flag I will add for the C up. M15 were getting bullish divergence again so I hope it's the start of the C up sooner rather than later.