LONG Trending inline with Feb 24th to 28th pull back - 3x speed
I've been trading with this pattern and has worked quite nicely with the exception missing the initial move yesterday as the pattern shifted slightly* and looked like it might drop. The low last night that partly stopped me out by a fraction of a percent :(
The trend is from the end of Feb 2018 - The last major double top. It seems to be running at 2-3x speed. I think the swing pattern is quite familiar to most which is why I do not trade this religiously as the MM might deviate at any moment to catch us out. Either way, the typical next waves are plotted here.
I've got one more trade to regain my original position coming up and then I think we are off to the races.
- Expecting to break resistance and go up at the '?'
- Expecting the Feb trend to end (no double top) and we will go beyond to $11k to unlock liquidity.
- From '?' to target $11k will be a rapid extension resulting in a drawn out period trying to break up the resistance then ultimately failing and returning to $9k levels. Why the rapid growth? Historically there has been little price action in this area.
Is this for certain? I'm no-pro. This is just an idea and I consider this as one big manipulation so very few folk know but historical references are very helpful (recent BTC or FOREX examples) - see related ideas 'Neutral to Long - STOP HUNT overlay in Orange).
* volumes in this move looked lower than on Feb 26th and because of all the calls for £8,400 I thought we will drop by a further 3% then progress. I've got to remember to do the opposite of what folks say ;)
Best, HF
The trend is from the end of Feb 2018 - The last major double top. It seems to be running at 2-3x speed. I think the swing pattern is quite familiar to most which is why I do not trade this religiously as the MM might deviate at any moment to catch us out. Either way, the typical next waves are plotted here.
I've got one more trade to regain my original position coming up and then I think we are off to the races.
- Expecting to break resistance and go up at the '?'
- Expecting the Feb trend to end (no double top) and we will go beyond to $11k to unlock liquidity.
- From '?' to target $11k will be a rapid extension resulting in a drawn out period trying to break up the resistance then ultimately failing and returning to $9k levels. Why the rapid growth? Historically there has been little price action in this area.
Is this for certain? I'm no-pro. This is just an idea and I consider this as one big manipulation so very few folk know but historical references are very helpful (recent BTC or FOREX examples) - see related ideas 'Neutral to Long - STOP HUNT overlay in Orange).
* volumes in this move looked lower than on Feb 26th and because of all the calls for £8,400 I thought we will drop by a further 3% then progress. I've got to remember to do the opposite of what folks say ;)
Best, HF
Comment:
A drawn out period may herald the ALT Summer?
Comment:
Immediate term retracement not complete yet before we move up - target 9130
Comment:
Dropped below the trend line, cue panic. 20 minute buy window coming up - safest route I might take is buy mid bounce. Do bots panic?
Comment:
No bounce. no play
Comment:
Classic BTC dropping deeper than expected, I should know by now. The downtrend is complete for this localised activity. The price action at this point is on trend (although a little deeper). If we don't go up from this exact point I'm a bear.
Comment:
rar (bear sound)
Comment:
I spoke too soon - on track
Comment:
On target. One more move
Comment:
On target. $9,420 resistance
Trade closed: stop reached:
Proved too much - Key channel support failed
Comment:
Only thing that can save it is $9k support
