This is my short mid-term trading setup that I am currently considering.
If the blue parallel resistance is broken above, we can expect some resistance around the region where the down trendline and the 4H order-block overlap.
SL: 100 pips
TP: 250 pips
Risk Disclaimer: Please note that trading currencies (or any other financial...
Here is my Elliot wave counting. I am currently considering expanded flat correction. When wave B doesn’t go higher than 1.328 fib extension of wave A, we can consider the wave structure as extended flat. This corrective wave tends to be formed with 3-3-5 rather than 5-3-5 structure. Usually, wave C is targeted by extending wave A from the start point of wave B by...
Here is Bitfinex 1hr.
My wave counts and trading setups are as shown above.
Regarding to Elliott wave theory, BTC bounced at wave 1's 4.236 fib extension level, which I believe is wave 3.
I am bearish right now and expecting few more down-going waves.
On the bright side, the white mid long term trend-line was well supported.
In shorter term, BTC broke the yellow...
I am sure that all of you are already aware that we are not in a good situation.
Here are my wave counting and trading setups for Bitfinex 1D.
This is how I interpretted the whole structure in a bigger frame.
I have never expected to encounter this green long-term log trend-line this...
Here is Bitfinex 1hr.
My current Elliott wave counts and short-term trading setups are shown in the chart.
Setting SL at decent price lets you have an efficient risk:reward ratio.
If we observe price bouncing more, BTC is most likely to be resisted at the retest region of the yellow trend-line that has been broken below few days ago.
Additionally, those who...
Here is Bitfiniex 1D.
I have performed a long-term Elliott Wave counting.
Considering the corrective phase going on for almost about a year as a triple combo, I have counted the waves with WXYXZ structure.
Moreover, I have interpreted the converging triangle pattern as ABCDE corrective wave for wave Z.
For now, we have to pay attention to the green long-term...
Here is BTCUSD Bitfinex 30hr.
Assuming that the up-going wave starting from October 31th is impulsive, which also implicates that the down-going wave from November 7th is corrective, I have brought up some possible scenarios.
Scenario 1: This wave counting indicates that we are done with ABC corrective waves and starting a new impulsive wave which can be either...
Here is BCHUSD, Bitfinex 4hr.
This trading setup was designed with an assumption that the up-going wave cycle started from 10/18 is an impulsive wave.
For now, it has retraced 0.5 fib level.
Referring to the recent suuport/resistance and fib retracement levels, some decent long entry points could be deducted as shown in the chart.
A general risk reward ratio...
Long time no see.
I have been way too busy managing my signal channel.
There has been a lot going on with BTC.
Many analysts have been predicting a massive bullrun at the end of this year.
And here we stand, almost at the end of 2018 as well as at the end of converging phase.
Whether it is bull or bear that will take over, there's no doubt that it is going to...
Here is my Bitmex(xbtusd) wave countings and targets. This whole up-going wave can be either interpreted as a wave cycle (Wave 1) or sub-wave 3 of wave 1. Personally I think we are done with sub-wave 3 and we are now in sub-wave 4. Therefore, I have set my target less conservatively.
Detailed explanations are in the chart above.
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Today I performed TA in a bigger picture with Bitfinex daily chart. It currently touched the major resistance region. The fact that Bitcoin is getting higher highs every day, it seems like a positive signal. However, many indicators and theories (including Elliott) are implicating that correction might come soon. Moreover, the targets from the inverse head and...
Here is my TA for bitmex chart(xbtusd).
All my targets, wave countings and explanations are shown in the chart.
These major resistance regions that have been mentioned is also where 100 MA passes in daily chart.
Bitcoin needs to close its daily candle above the MA to gain some bullish momentum.
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Long time no see. I have been way too busy managing my Korean signal service channel. Here are my detailed Elliott wave counts and my short-term targets.
Bitcoin is currently being resisted by the yellow trendline which has been formed since July 8th and we can definitely expect decent amount of bullish momentum once we pierce through it. For my primary bullish...