My last W1 idea all price had to do is break the low of wave A (red line) for the C wave down to complete the structure, price has now done that so is this the end of wave C?
Well let's take a look what we have. There is no confirmation W1 wave C is over and the MACD has turned down below the zero line, therefore I can't rule out the low of the internal wave B being broken (blue line) or even price getting to the 100fib @ 103.41 although price is unlikely to get to this low because we will get bullish divergence as soon as the internal wave B low is broken.
Could we get some sort of ending diagonal in the wave C down. I think this is the most likely scenario at this point in time, to break the low of wave B and the D1 supports more downside as we don't have any bullish divergence. But only price action can tell us what the next move is and thats what we trade, price action, not some line on a chart!
Once the W1 wave C is over I expect the top of wave B to be broken (green line)
I will put out a D1 idea in a little while but 1st I would like you to checkout my 2 previous W1 ideas!
My 1st W1 BTC idea. W1 Basic EW ABC Correction, as you can see my count remains the same to this day and I was looking for either a running or expanding flat correction in the internal wave B, we got an expanding flat. A thanks to the 13 people that hit the thumbs up on this idea for your support!
My 2nd W1 BTC idea. W1 C Wave Down, I think the title is pretty self explanatory. A tank's to all the people that hit the thumbs up on this idea for your support!
This is long term analysis so I will update this idea as more data becomes avaliable.
Good luck and trade safe!
If you like this idea hit the thumbs up to show your appreciation for this free analysis, You seen these counts and analysis here first!
Thank's to all the traders in advance that hit the thumbs for your support!
Well let's take a look what we have. There is no confirmation W1 wave C is over and the MACD has turned down below the zero line, therefore I can't rule out the low of the internal wave B being broken (blue line) or even price getting to the 100fib @ 103.41 although price is unlikely to get to this low because we will get bullish divergence as soon as the internal wave B low is broken.
Could we get some sort of ending diagonal in the wave C down. I think this is the most likely scenario at this point in time, to break the low of wave B and the D1 supports more downside as we don't have any bullish divergence. But only price action can tell us what the next move is and thats what we trade, price action, not some line on a chart!
Once the W1 wave C is over I expect the top of wave B to be broken (green line)
I will put out a D1 idea in a little while but 1st I would like you to checkout my 2 previous W1 ideas!
My 1st W1 BTC idea. W1 Basic EW ABC Correction, as you can see my count remains the same to this day and I was looking for either a running or expanding flat correction in the internal wave B, we got an expanding flat. A thanks to the 13 people that hit the thumbs up on this idea for your support!
My 2nd W1 BTC idea. W1 C Wave Down, I think the title is pretty self explanatory. A tank's to all the people that hit the thumbs up on this idea for your support!
This is long term analysis so I will update this idea as more data becomes avaliable.
Good luck and trade safe!
If you like this idea hit the thumbs up to show your appreciation for this free analysis, You seen these counts and analysis here first!
Thank's to all the traders in advance that hit the thumbs for your support!
Comment:
D1 B Wave Correction. Checkout the idea to get my analysis on the D1 thanks.
Comment:
M15 Wave C Up Idea, check it out to get up to speed on the lower timeframe thanks.
Comment:
H1 Is The Regular Flat Correction Over. Checkout the idea to get up to speed on the H1 chart thanks.
Comment:
D1 Wave C Down (H4 Chart) idea, check it out to get up to speed on the H4 thanks
Trade closed: target reached:
Top of wave B has been broken.
