RimmerDall
Long

Bold support levels imply uptrend continuation

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
189 0 0
Profit target for this very short term trade setup is within the same price range that might occur with an overall weak wave 5 (second channel line from the top). This increases the probability of striking the target even if my smaller wavecount is off. The strict 1.618 made it easy for me to pick a number in the target range--I am not seriously expecting the price to hit EXACTLY that value. Of course, ignoring iv and holding through till completion of 5 is another approach, and would allow a more conservative stoploss just below P rather than the ultra-tight setup I'm working with. However, this carries with it the risk of the trend reversing before target is hit, and missing out altogether (I'm not convinced we're headed straight to the moon quite yet).

Rrisk/reward ratio 4.41
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out