piriya33
Short

BTCUSD passed my w4 targets, moving on to w2

BITSTAMP:BTCUSD   Bitcoin / Dollar
My last assumption on BTCUSD             was that it is in a wave 4 (primary) correction.
For that assumption to be true the target 653 and 590 must not be broken.

As it turns out, they were broken down very decisively, this is a good clean signal hinting at a major wave 2 correction instead. ( Which I've also mentioned in my list of possibilities)

These are the new targets to look out for, the first being the target for a primary wave 2 in case that isn't over yet (not very likely , and is already touched and broken once though it still hold in OHLC4 chart)
The last two at 61.8 and 78.6% retracement marks the correction targets for major wave 2 correction.

Trade with care.
Comment:
snapshot


Price has reached pullback target for wave A (one of the many possibilities)

From here, watch closely, if target holds and price drops then it'll be a good place to short with minimal stoploss
If the resistance cannot hold then I'l have to re-analyze.

Still no position yet, waiting.
Comment: Earlier update is in the comment, I misplaced it there.

This pull back is taking longer than I initially thought it would, missed opportunity to go long for a short period.
Trade active: Just went Short at 585.82
SL at 592.58
TP at 500
snapshot
Comment: Sorry, shorted at 595 / SL at 598
Comment: Continues to annoy.. lol.
Volume have been confirming an uptrend though, watch out and set you stop losses well for short position.
snapshot
snapshot

Sub waves count in hourly chart (ohlc4 for line )
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