This is part of a series of posts making a close following on Bitcoin, We started before the Breakout of the Falling Wedge, and now that we have it, our second filter before setting long orders is a clear Throw-back ( a Retest of the broken area). We highly recommend taking a quick look at the previous ideas on " Link to Related Ideas," which will give you context on what we have been waiting for, and our Trading Logic. Without further ado, let's start:
a)We have set two lines for the corrective Structure we are waiting for, in which we expect the Throwback to develop.
b)We have a crucial reversal area for the finalization of the Throwback, where 3 Technical lines converge.
c)We are not going to look for trades inside this corrective structure. / This is just our final filter before setting Long Orders.
d)Remember: Our Main View is Long for Bitcoin, we have a Falling Wedge pattern broken with a previous Motive Way. From an Elliot Wave Perspective, a new motive Way should come beeing C or 3 (check the daily chart below)
e)Remember, the risk while waiting filters is the possibility that this doesn't happen, and you can't catch the new motive way. But we are always looking for High-Quality setups, and all of them involve filters.
f)We will keep updating this idea as the price keeps developing. But for now, we are just watching and waiting for this Formation.
Daily Chart:
a)We have set two lines for the corrective Structure we are waiting for, in which we expect the Throwback to develop.
b)We have a crucial reversal area for the finalization of the Throwback, where 3 Technical lines converge.
c)We are not going to look for trades inside this corrective structure. / This is just our final filter before setting Long Orders.
d)Remember: Our Main View is Long for Bitcoin, we have a Falling Wedge pattern broken with a previous Motive Way. From an Elliot Wave Perspective, a new motive Way should come beeing C or 3 (check the daily chart below)
e)Remember, the risk while waiting filters is the possibility that this doesn't happen, and you can't catch the new motive way. But we are always looking for High-Quality setups, and all of them involve filters.
f)We will keep updating this idea as the price keeps developing. But for now, we are just watching and waiting for this Formation.
Daily Chart:
