Boon2

BTCUSD M15 expanding flat, More downside to come.

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Internal C up is either over for a running flat or we will get another push higher for the expanding flat. price action suggests an expanding flat at this stage.

Experienced traders can trade the buy for a scalp as no one know's where wave C up will end but the bigger impulse is to the downside, This is the trade you don't want to miss!

I may update the idea if I get enough interest in the idea!

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Comment: We got the expanding flat as per my analysis and a break lower. if you took the break short move to BE or at very least just above the C high as the structure can become more complex. 1st TP 123.6fib
Comment: Previous update short trade playing nicely and going to plan. Low broken and now we have bullish divergence. Take profit or at least half off and wait for the next signal!
Comment: Price has dropped much more than I had anticipated, Well done if your still in half the trade. H1 I have it as a ABC down, Price getting closer to the H1 100fib with bullish divergence forming. I will update with a new Idea when I see a setup!

Comments

Crazy times for Crypto, waiting for the next trade up perhaps since I didn't take this one >_<
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Boon2 VForex
@VForex, Yes look's like were getting a bit of volatility in BTC, just what the doctor ordered. I don't see a setup long or short at this stage, could take a few day's for price action to form a setup either way.
I'll put out a new idea when I see another trade possibility and try and catch the next impulse.
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I have a similar view but with Etheruem, structure is pretty similar what you think?
Reply
VForex VForex
@VForex, depends how this little flat turns out... it could keep going down
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Boon2 VForex
@VForex, Ok yep, yes they look pretty similar patterns and your right, C up maybe completed for the running flat but I don't see any sell setup at this stage that's why I have it as one more spike higher before the larger impulse down
Reply
VForex Boon2
@Boon2, well I don't think my C up is completed yet, does it have to be completed for another flat to happen like in my chart above? I mean why can't the C up be like this
Reply
Boon2 VForex
@VForex, either do I as per the details in the idea i have the arrow up like you. I don't get your question?

on the lower TF it's simply telling me Z up is possible, That will be expanding flat!
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