SForwardtrading
Short

XBTUSD: Bearish ascending triangle using elliot wave theory

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Assumptions:
1. the large rejection a few days ago implies we are still in a bear market.
2. MACD being squeezed, so a move either way is imminent.
3. Bearish divergence on the E wave.
4. Bullish momentum has been weak in the past 2 days.
5. Target: the next support point.
Oct 19
Comment: target: 6260
Oct 19
Trade active: The ABCDE Count might not be correct since it still has space to move in that acending triangle.

if we ignore the wick, we get A (instead of C), B (instead of D).
While C,D,E are still incomplete.
Oct 19
Comment: In the process of breaking down!
Oct 19
Comment: My first post on tradingview, sorry if the graph appears like shit, just move to the left so it will zoom out and you can see the big picture.
Oct 20
Trade closed: stop reached: Stoploss hit, 4 hours after hidden bullish divergance appeared on the 1 hour chart.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out