Waiting for Long Signal on BTCUSD 4H.

BITSTAMP:BTCUSD   Bitcoin / Dollar
Chart: Manual System based on Elliott Waves and Fibonacci. Aqua line is Main Pivot .

Status: Waiting for a long trigger. Price must go down to Purple HMA.

Comment: Normally i trade on Metatrader 4, i am trying to convert to TradingView so Signals are only illustrative till i have convertet the templates from Metatrader to TradingView.
2 years ago
Why does the price have to go down to Purple HMA?
MacMorris ChartArt
2 years ago
Because this is one of the criterias of the system that i use. If the price did not exactly trigger on that HMA that could mean that we have a continuation signal, means price can go more down, its to protect us from false entrys. The goal is to get the nearest entry point of a possible new Main Pivot or Trend Reversal, but with smallest stop loss possible. Sorry my english is not the best.
ChartArt MacMorris
2 years ago