ravno_108

BTC correction down.

BITSTAMP:BTCUSD   Bitcoin / Dollar
366 6 4
Second attempt.
Here again we have:
1) 5 waves down
2) broken trend line

The most probable direction now is down.

SL is around 555 ( BITSTAMP )
Profit area 505 - 510
Comment: The decline should continue from here.
Could be we are moving down from the following triangle:
snapshot
Trade closed: stop reached: No luck this time, stopped out.

Waiting for the next Elliott Waves setup.
Looks like it's going the opposite direction
+1 Reply
ravno_108 hubavka
Actually, we aren't going anywhere =)
The triangle is just get more and more dense.
I still stick to the downside resolution.
snapshot
Reply
hubavka ravno_108
How about now? Not that your version was not possible, but BTC is in an uptrend. Way more likely for triangles to break up.
Reply
ravno_108 hubavka
Yep. I was stoped out on this trade. See my comment at the end of the "trading idea". You were right =)
Reply
hubavka ravno_108
Sorry to hear that, but it's good that you have a stop. Some people don't use them and get killed.
Reply
ravno_108 hubavka
You win some, you lose some =)
Reply
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