Whilst the last 2 charts on BTCUSD published are highlighting intermediate term bearish with potential move down to retest the low at 450 and longer term will revert to new bullish move over longer term, I am seeing small scale "Flat Wave" in the short term under progression and feel that I should publish that chart.
So in this you will see 3-3-5 wave from current congestion which may have been calling it descending triangle, perhaps incorrectly. If this unfolds as flat, then you will have the opportunity to see live how the price forms such 3-3-5 correction with high being formed around 1100-1150 zone. Don't be too rigid about the actual price zone noted, except by that time you need to be able to see clear 5 waves to the upside completing around there or on either side.
The it will give you confidence of the larger "Flat Wave" described in my previous 2 charts also could unfold similarly.
For greater explanation and understanding of this type of patter and EW analysis you can view 2 recordings on Youtube which you can find at the following links:
Hope you enjoy this and help you plan your trades ahead of time with specific observation to look out for final entry and exits.
As always, please don't follow blindly and use good money management to ensure that should we be wrong the loss could be well defined before entry.
For those of you who have asked me for link for making donation, you can do that at the link: 1Q1jYasGiJxvvYNX2KwwmX8KGoXRMu9rAW
Comments
daehbew
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Yeah I'm gonna need your bitcoin addy as well Dan.. I did a binary trade for $400 bucks which will grow into $800 if everything holds true.. that was USDJPY.. followed one of your charts along with some calculations I did..
DanV
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Hi Mate, Great. I am please it assisted you in your trade. Hope it works out for you. Here is my Bitcoin address if you need it 1Q1jYasGiJxvvYNX2KwwmX8KGoXRMu9rAW Thanks.
DanV
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This chart is being retired as the sideways congestion never broke out to the upside and lasted longer than expected. But now the downside trend has resumed and it is better described in my other charts, most recent one is tradingview.com/v/pO8XEiEy/
Hey Mate. I think this is out of order and regardless of your views, I would not approve of your attitudes or sentiments. I am disappointed with this out burst and hope you will act more acceptably to earn respect as I expect of all my friends. I am hope I will not be embarrassed with this kind of nonsense again. Thank you
DanV
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Well thanks for your effort in saving my ass as you put it. Folks will often try to ridicule EW or any other approach for that matter. I do not need anyone to protect my belief in EW. But Honestly, I don't know how all this started. And I have good interaction with you before and enjoyed it too. However, I cannot approve your outburst above. It really is not called for or be-hooves someone hoe could command respect from ones good conduct. So please just let it lie as it is and may be things will just blow over.
DanV
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OK I hear what you say. If you feel that will satisfy you then go right ahead. But please do not continue interacting with me in this way on this chat. That is my personal request. Not fair on others who will view my analysis. If you think I can help then contact me view email to tradingcharts4wealth@gmail.com But please do not persist in this manner. There are more important things to focus on and make money, not argue endlessly on non profitable subject. Hope you understand.