my previous chart was not very good, so let me try this again lol.
ok so because i don't know if bitcoin will break down below the support before heading back up or if it will break above the triangle... i'll be setting buy orders to cover both ideas. if it breaks down below the support line i'll have a buy limit waiting to catch the dip, but if it breaks above the triangle, i'll have a buy stop waiting right above the resistance line. TP would be at the highest point of the triangle.
I tend to agree with you buddy, but few days ago I saw things differently... I search for different analysis then mine just to be sure, tell me what do you think...
Actually I had some unusual idea last night, I'll love to share it here with you, feel freeeee to share your insights with me
charliefornia
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@josque, i like your analysis. from what i've learned, descending triangles have about a 70% chance of breaking down through the lower support and so i used that in my analysis, but i cant be 100% certain, so if indeed it is able to break out above the triangle, then i believe the SELL STOP i have in place on my chart would work for both of us! :) yeah?
@josque, that is why i also have buy limit @ 78000
if it does't dip first then my buy limit will never activate, but my buy stop will.
if it does dip first then my buy stop will activate and my buy limit will activate resulting in 2X the pips! i hope
josque
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@nogoodcharles, good luck to both of us I guess ;)
Actually I had some unusual idea last night, I'll love to share it here with you, feel freeeee to share your insights with me