BTC daily update 10/2/19 PERFECT SHORT OPPORTUNITY! MUST SEE
I need to point out exactly how bearish our situation is currently.... I have went back throughout the historical prices of BTC to see how Gartley's in a downtrend played out. Good news is that I hit pay dirt with the information that I'm about to share with you, so you can profit as well out of it. Bad news is that its NOT bullish one bit, like... Not at all...
The very first thing I'll do is show you how these harmonic patterns played out in bear markets (which we are in for absolute sure btw)... And found out the just prior to completing a 5-drive pattern, any time we are sandwiched between the 11 days MA and the 21 day EMA, it is an ABSOLUTELY, POSITIVELY bearish sign. period. So if you are long right now, please take a good look at screenshots of all of the prior harmonic patterns that played out similarly. Notice a trend?
I fully expect us to drop somewhere between the 0.236 and 0.382 fibs from here. From there, a long opportunity presents itself, and then right back to a short... A very profitable short.
These patterns have worked themselves out numerous times. Use them to your advantage. Don't get TOO greedy. But let history give you a chance to profit.
My plan:
Short to 8040, long back to 8300, then short to this puppy DOWN... WAAAAAY down. We're talking around 6800 down...
Congrats. I just made you some money comrades.
TRADE ON!
The very first thing I'll do is show you how these harmonic patterns played out in bear markets (which we are in for absolute sure btw)... And found out the just prior to completing a 5-drive pattern, any time we are sandwiched between the 11 days MA and the 21 day EMA, it is an ABSOLUTELY, POSITIVELY bearish sign. period. So if you are long right now, please take a good look at screenshots of all of the prior harmonic patterns that played out similarly. Notice a trend?
I fully expect us to drop somewhere between the 0.236 and 0.382 fibs from here. From there, a long opportunity presents itself, and then right back to a short... A very profitable short.
These patterns have worked themselves out numerous times. Use them to your advantage. Don't get TOO greedy. But let history give you a chance to profit.
My plan:
Short to 8040, long back to 8300, then short to this puppy DOWN... WAAAAAY down. We're talking around 6800 down...
Congrats. I just made you some money comrades.
TRADE ON!
Comment:
Success! Rejected by the 21 and 11 MA’s. I do think we will drop to around 8k before there is more buying probably towards the 0.5 fib on chart.
With that said, I wouldn’t suggest longing this back to 0.5 because you never want to trade against the trend, especially a bearish one still forming.
I would wait for another short opportunity at the 0.5. You can be a bit more risky with the leverage there... Don’t go overboard.
With that said, I wouldn’t suggest longing this back to 0.5 because you never want to trade against the trend, especially a bearish one still forming.
I would wait for another short opportunity at the 0.5. You can be a bit more risky with the leverage there... Don’t go overboard.
Comment:
From the apx 8300 area, a good profit target for the short is somewhere in the neighborhood of 7400, which signifies the next major monthly pivot. That will be a better risk/reward ratio than a long back to the 0.5...
Comment:
I want to also give you guys the possibilities that exist here, because there DOES exist a bullish possibility. PSAR is indicating potential momentum up... NOW, this could just indicate the top of the trend line that is right around 8300.
HOWEVER if we break that top trend line, YOU SHOULD IMMEDIATELY GO LONG because it will be trying to complete the Shark pattern and we can see 8600 territory. EXPECT A RETRACE AFTER BREAKOUT UP. I would almost wait to short back down if we fail back down away from the top trend line.
I cannot guarantee what happens, I can only give you the possibilities. It's up to the buyers and sellers at that key time.
I'll also update this on a new idea.
HOWEVER if we break that top trend line, YOU SHOULD IMMEDIATELY GO LONG because it will be trying to complete the Shark pattern and we can see 8600 territory. EXPECT A RETRACE AFTER BREAKOUT UP. I would almost wait to short back down if we fail back down away from the top trend line.
I cannot guarantee what happens, I can only give you the possibilities. It's up to the buyers and sellers at that key time.
I'll also update this on a new idea.
More so when we are in a bear market...
Remember, do NOT over-leverage yourself because these impulses can liquidate your position quick, just like the latest impulse wave. They all come back down, and they all do a very recognizable pattern..