mloske91

mloske91

this analysis depicts basic fundamental fib retracement, and take profit levels, as well as an idea of what i would use as a basic stop loss. I will only enter this trade when the active price closes below the ichimoku cloud.

mloske91

aside from the CCI being positive this looks like a decent downtrend with some good room left to move to the downside.

mloske91

we have a nice downtrend started on this pair, and i believe it will continue to the next pivot level. current price is below the ichimoku cloud, and looks as though it will continue to drop.

mloske91 Updated 

i believe downward momentum will continue on this pair, possibly for quite some time as the trend is relatively new. i used the pivot levels, and the previous low to determine my take profit 1 and 2, as i split my lot sizes in half to have two entries. i entend to close one of the lots at tp1 and move the other to entry at the same time. Tell me what you think!

mloske91

as we've seen recently BTC tends to favor the bulls, I expect this trend to continue here.

mloske91

the wave gets tested, and we have more assurance that the trend will continue to a lower level.

mloske91

notice the space given for the SL

mloske91

taking this trade through the weekend using the 55 wave strategy from simpler trading!

mloske91

we see here a clear downtrend we can scale in as we see fit. there are multiple great points of entry