Been buying since reversal. Literally called it last december on the dot.
Plan is to buy all correction on higher TF.
Up over 100% already?? So what - keep buying all the dips.
Only swing trades. Sell when trend changes on W1 time frame.
Significant trendlines can be used to predict time horizon of impulsive movements.
Circle: Violent move down at significant crossover.
In confluence with .618 ret of bear swing.
Pattern bear flag. Ascending channel. Corrective ABC.
Very very important chart.
What to look at:
- Multiple triangles made of black think support trendline and red overhead local resistance.
(Black support breakdowns are labelled)
**The current impulse to the upside is interesting because this is the first time during this bear market that we close above the local resistance red line.
On Oct15 2018, we made an...
Significant trendlines cross overs can be used to anticipate violent price actions.
After a boring week of consolidating we have reached the apex of the wedge structure.
Anticipate violent move rather soon.
Bias is bullish. But shed longs if price action does not reflect impulse.
Two trendlines blue and black.
Both are respected by price action, especially as we kiss the blue line all the way during the recent sideway price action to the down side.
Now the buyers must defend the price above these lines.
Red lines indicate drop back below trendlines and we anticipate strong bearish momentum.
For the time being we accumulate, and add-on...
EW and trend analysis can be found in previous ideas.
Just want to mention the MACD cross over possibility and histogram ticking to the upside on a W1 time frame.
This is ideal for long term HODL investments.
Same with RSI bouncing off at bearish reversal zone of 20-30.
We are waiting for overhead resistance at 3800 on lower TF to be taken out. And then...
confluence: 2.618 ext of wave 1-2 of c
.786 ret of bear swing
ABC to the upside in a bear market.
Anticipate wave 5 of C.
- 5 is in and we move down. Unlikely as we didn't interact enough with 616 ret.
Although we do have interaction with 1.618. But the market is hesitant with sideway action. Thus primary count remains 2.618 ext target,