H4 We have an impulse down in wave A and I'm looking at the possibility of the running flat in wave B with the wave C down to come to complete the D1 wave Y.
H1 We have bear divergence in the H4 internal wave C up. Look for your sell setup.
Here is my last H4 idea were I was looking for the completion of the H4 wave B. Check it out to get up to speed thanks.
D1 Checkout the idea to get up to speed on the possible D1 scenario's.
W1 The MACD has turned down below the 0 line so I'm still expecting price to break below wave A and complete the structure. Checkout the idea for the complete picture thank's.
Good luck and trade safe!
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Comment
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H1 Bull's Beware! Checkout the idea to get up to speed thanks.
Liking this one so much, have exact same opinion, GoodLuck tho
Boon2
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@Targon4, Cool, Yes we know the market moves in waves and when we get these structure's that just break the low like in this idea theres a very good chance were getting either a running or expanding flat for more downside before any possible reversal.
fueledbynicotine
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100% agree with this
Boon2
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@keshant619, Cool, It will be really good if we get this lower low because that will complete the D1 and the W1 structures. Then we will get a high probability longer term buy where all the stars align
fueledbynicotine
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@Boon2, I don't think we're done correcting the $0.01 to $19,000 bull market as yet. I feel like we're in the B wave of a correction that might take the form of a triangle or zigzag. Only time will tell.
Boon2
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@keshant619, It could become more complex for sure but once the W1 correction (accumulation) is complete by price breaking below wave A many of the perma bulls holders will be stopped out or just cut there loses because they have no clue what the price is doing. This alone should give an impulse up and then its just a matter of watching price action to see if market will give continuation or give a more complex correction.
Bulldragon
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this was my first assumption too , but
we already retest the 6300-6500 support twice.
do you think its not yet a confirmation?
based on the RSI we may retest again the 6500-6700 (depends on the pressure)
and it will form a double bottom signal.
dont you think its a bullish signal? it will point to 8k-10k
Boon2
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@Bulldragon, Because the low only just broken I'm looking at a bearish running flat on the H4. H1 we have bear divergence without breaking out of a structure.
Once we get a lower low on H4 that could possibly be the end of the down trend
BakiShirzadi
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Great idea
Boon2
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@The-B-wave, Cheers, Lets see if the running flat plays out from here or we get an expanding flat in the B wave.
BTW I follow you because I can see you have an understanding about structure, not many around here do. Good to see and keep up the good job!