Several scenarios can play out today. We are waiting for more data. Depending on what the market gives us, we see entries for both short and long trades.
Bitcoin been ranging in low 30K for a while and today we broke the bearish structure from 30.1.Could we finally see a new high ?
I still root for 32K before 28.8
Thanks for watching
Efforts from the PBoC to stabilise the Yuan have helped stifle the USDCNH bulls for now, but questions remain over whether this short-term shot in the arm for the Yuan will have longevity. With wider efforts to help improve FX inflows and business confidence, there is a feeling that we will continue to see the Chinese government and central bank intervene where...
In the lower timeframe, we are waiting for an ABC pullback to finish the wave ((iv)). From there, we can go long again. For the moment, there looks to be a complete structure to the upside which can be shorted (warning: against the main direction).
In the 1 hour, it looks like the DOW is close to finishing an impulse to the upside. If we see the fifth wave ending with divergence, traders can initiate a short (against the main direction). A safer way to trade is to wait for the wave ((ii)) pullback and go long from there.
In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
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Price action & trend analysis.
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In the lower timeframe, we are waiting for an ABC pullback to finish the wave ((iv)). From there, we can go long again. For the moment, there looks to be a complete structure to the upside which can be shorted (warning: against the main direction).
In the 1 hour, it looks like the DOW is close to finishing an impulse to the upside. If we see the fifth wave ending with divergence, traders can initiate a short (against the main direction). A safer way to trade is to wait for the wave ((ii)) pullback and go long from there.
In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
The other day I shared a video of a bearish CTS trading opportunity using Fibonacci, Structure & the AB=CD pattern. In that opportunity I was looking for a double top to use as an entry & as of now it doesn't look like that's going to happen.
However, if you have the understanding & more importantly the skill of how to read a price chart, it can allow you to...
Hello Traders. My name is Hadi Karaali, known as snipers F_X
I truly appreciate your continuous support everyone!
Let me know if you like the series, and if you would like me to change or add anything.
Here is a quick update & my trading plan on BITCOIN, enjoy it.
As usual manage your risk and trade safe.
Best of Luck!
