Hello Traders,
When frustration exists in market, it means a good opportunity to buy.
I was able to count a complete ABCDE correction down
BTCUSD
... you can see that there is a strong Bullish BAR in a 4 days time frame, it is clearly an indication of market reversal to the other direction.
Where are we from the Wave Count?
When we look at the bigger picture, I can see clearly that when we reached 19,891 USD, it was not the end of BTC yet, in fact, that was mainly is wave 1.
Why do I believe that the peak was wave 1?
According to the school of Bill Williams', there are two theories that support my analysis:
1-The AO indicator: when we see a peak of AO without seeing divergence, we should have an assumption that we are in wave 1 count until we see a divergence.
2- According to FIB Retracement; Wave 1 can retrace up to 100%, which means that BTC could retrace up to 1 USD.
3- I have failed to count anything but wave 1.
what about this correction from 19,000 USD to 3600 USD?
Wave 1 is always followed by wave 2. The wave 2 we are seeing now is a complex ABCDE correction.
Why i believe that we are witnessing the end of correction?
1-I was able to count a complete wave correction in a bigger time frame.
2-Each wave has a beautiful ABC count.
3-The last wave has a strong ABCDE count which matches our main wave count
4-Big Gap between price and the blue line "Angulation" which means that the price exaggerated in moving down, people started buying which created bullish bar.
5-A strong bullish bar
In a 4 day time frame, we can witness a strong bullish bar which could be a indication of market reversal
If the above mentioned is true, then what do we expect?
We should expect wave 3 coming to create a strong impulsive wave. This wave target should creates a new high, it should target between 20,730 USD to 28,000 USD .This is the first target, and we should be able to determine the 2nd target upon reaching the 1st target and witnessing correction.
So what's the conclusion?
1-GO LONG
2-TURN the INVESTING MODE ON and forget that you own BTC.
3-IGNORE WHATEVER I WROTE ABOVE, when the price hits a new low, which is below 3650 USD. THIS IS YOUR LOSS STOP.
I trust the above can give you justifications about my analysis and buying decisions. All what I wrote could be wrong that's why we should have a risk acceptance approach and follow the loss stop no matter what.
Call me a dreamer, but before you do so, remember that in trading, everything is POSSIBLE
Happy Trading Everyone.
When frustration exists in market, it means a good opportunity to buy.
I was able to count a complete ABCDE correction down
BTCUSD
... you can see that there is a strong Bullish BAR in a 4 days time frame, it is clearly an indication of market reversal to the other direction. Where are we from the Wave Count?
When we look at the bigger picture, I can see clearly that when we reached 19,891 USD, it was not the end of BTC yet, in fact, that was mainly is wave 1.
Why do I believe that the peak was wave 1?
According to the school of Bill Williams', there are two theories that support my analysis:
1-The AO indicator: when we see a peak of AO without seeing divergence, we should have an assumption that we are in wave 1 count until we see a divergence.
2- According to FIB Retracement; Wave 1 can retrace up to 100%, which means that BTC could retrace up to 1 USD.
3- I have failed to count anything but wave 1.
what about this correction from 19,000 USD to 3600 USD?
Wave 1 is always followed by wave 2. The wave 2 we are seeing now is a complex ABCDE correction.
Why i believe that we are witnessing the end of correction?
1-I was able to count a complete wave correction in a bigger time frame.
2-Each wave has a beautiful ABC count.
3-The last wave has a strong ABCDE count which matches our main wave count
4-Big Gap between price and the blue line "Angulation" which means that the price exaggerated in moving down, people started buying which created bullish bar.
5-A strong bullish bar
In a 4 day time frame, we can witness a strong bullish bar which could be a indication of market reversal
If the above mentioned is true, then what do we expect?
We should expect wave 3 coming to create a strong impulsive wave. This wave target should creates a new high, it should target between 20,730 USD to 28,000 USD .This is the first target, and we should be able to determine the 2nd target upon reaching the 1st target and witnessing correction.
So what's the conclusion?
1-GO LONG
2-TURN the INVESTING MODE ON and forget that you own BTC.
3-IGNORE WHATEVER I WROTE ABOVE, when the price hits a new low, which is below 3650 USD. THIS IS YOUR LOSS STOP.
I trust the above can give you justifications about my analysis and buying decisions. All what I wrote could be wrong that's why we should have a risk acceptance approach and follow the loss stop no matter what.
Call me a dreamer, but before you do so, remember that in trading, everything is POSSIBLE
Happy Trading Everyone.
Trade active:
My position in BTC is active on 2 days time frame :) my price is 4448 USD.
Comment:
a Bullish Bar in 8 days view :) this means that if the price goes higher than 4488.1 USD, we should place a buy order and enjoy the profits :)
Comment:
*attaching the right screenshot
Comment:
The price is still going lower and lower, remember, we must stick to the loss stop! This idea is valid until the loss stop is hit.
Comment:
back above the 4100 USD :), let's see if it can pass 4488 USD today :)
Comment:
Loss stop reached and existed the position. This Idea is invalid for now.
Comment:
I see a complete wave down and we believe it’s time to open another position. Stop buy will be placed on 3561
Trade active:
Comment:
Waiting for 100% profit~
Harbs
An amazing going long signal :) :) :) look at the divergence of the momentum :) :) :) :) :)