About meTrading experience since 1997 - 1-2-3 Breakout-Trader -Here i just illustrate my thoughts -my views -please trade your own view
The Breakout is still in full swing, but with yesterdays candle i am afraid of upcoming weakness these days.
The RSI is nearly overbouht and SPY is forming a bearish wedge. If SPY would come back to kiss its former breakoutlevel that would be healthy. But SPY should not fall below the former Breakout-Level. Here i see the risk, that we will drop down into the Fibo-Cluster.
Introduction into 1-2-3 Trading Pattern
My dear followers - we always make the same mistakes, we do not let winnings run, but already losses..
his guide may help one or the other to have an instrument on hand in the future, just to make it win, and to let it rise.
In addition, this approach makes it easier to manage money or make stopps easier to handle - if...
My dear friends and followers :-)
It is long ago that i have analyzed BTC for you, so it is time to analyze BTC again :-) Why? because BTC formed a flag -and the guys who are following me since many years should know, that flags are my favourite BreakOut-patterns :-) For those who are not really familiar with flags, i attached a mini-flag-tutorial :-)
After breaking the triangle, a fast downmove appeared. This move stopped not far below the EMA200. From this level on, we see a consolidating move between 7.750 and the EMA200. Breaking 7.750 (The MoB!) should cause the next impulsive and dynamic shortterm downmove. The chart brightens above the EMA200...
BTC is still in a falling-knife-situation. In the shortterm view we can see a H&S. Will this be triggered, a further sharp selling wave shpuld be exspected.
The chart brightens above the right shoulder respective head
The consolidation after the youngest selloff stopped at ist min correction Level, the 38,2 fibo. THIS IS THE LEVEL TO WATCH!
As Long as Dax ist trading below that Level (here also is based the EMA 200!), the momentum should still be bearish. A bearish Flag could be formed!
After kissing the Midterm Trends upper edge, we see weakness! At the Moment it seems that btc could break ist shortterm uptrend. That should accelerate the bearish momentum. Perhaps we see a bearish H&S right now which is trigegred and active!
The RSI is near the next possible buying area, but we didn`t reached it at...
We have seen a selloff after breaking the Support @ 13.000. - the last valid "2"
This was technical consequent und exspected:
Now the RSI has nearly reached the oversold-Region, btc is traded near the EMA 200 and we kissed the shortterm downtrends bottom...
Here we nailed it. At sept 5 we recognized, that this will be a possible top. we where right!
Okt 12 Comment: after kissing the max fibo, the buyers came back. now we are trading at a Pivot Point - a Make or...