forker

BTCUSD - Bitcoin still strong after bounce at the centerline

BITSTAMP:BTCUSD   Bitcoin / Dollar
The Swings...
...point one to the real direction. If a LH is clearly broken, then price has a high potential to turn the direction. One could make a living from trading only by trading the swings, depending of amount of capital and skill of course...no free lunch in the markets and no holy grail.

The Fork ...
... measure the Action/Reaction of price movement. Since price reaches the centerline over 80%, the potential target was already reached.

The parabolic move...
...indicates that price is gaining "momentum" - as far as we can use this term on the weekly timeframe . But with this tool we can see that price is heading to the upside with more and more juice.

Where will price go next...
...is only in the hands of the market. It is not my intention to "predict", but to project where it possibly could go. Projections have nothing to do with the trade itself. Projections are one peace of the puzzle for higher chances of successful trading.

And the trade...
...is not ripe yet for me. There is no signal, no hint, nothing - just the actual path of price and the facts I already wrote. With these in mind, I observe and watch for signal, screams and obvious behaviour.

Be happy & learn to earn §8-)

P!
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