- Waiting for a bigger correction, then a lower degree breakout sets up r:r for the next motive wave up.. with opportunity for trade to run.
- price action pushing past 1.05884 requires a recount.
Taking partial profits at 32k and setting trailing stop loss helps confidence to stay in the trade.
BTC could make a pullback to 32k then push for 40k.
Fingers crossed and trail safe.
After 27 Sep, a lower degree correction sets up the r:r for a Y wave up.
if BTC could stay above 26000, looking for it to head back up to previous highs.
- Unless GU H & S pattern is broken (price breaking above 1.28), Sell entries only.
- (Included TV's H&S pattern in the chart.)
if price could stay above 6650 and count is true, the focus will be on Buy setups back to the previous highs(7318).
if price would maintain above 82, then Oil looks like its headed back up to 100, possibly 140... with current world events.
be careful not to trade a premature breakout. if price drops below 1.36, it could collaspe.
if this is a 3 wave structure, we are heading up agian. check for impulses to confirm the buy.
if GU prices would maintain above 1.209, focus will be on Buy setups.
We'll be watching the 88.549 level.
Price action above this level represents a Bull Bias, hence focus on Buy Entries/Setups.
...will be looking out for a WXY wave , waiting for X wave to complete provides suitable r:r.
Bullish price action at 1.65368 could give 1 motive wave up..
Bullish price action include, fvg, bullish candle stick, bullish flags etc.
- monitoring for a 4th to 5th wave
- a lesser degree correction allows suitable r:r.
-price should not go past 1.93
- trade has opportunity to run if previous low breaks...
... waiting for a correction to fib levels, then bullish candle price action sets up suitable r:r for a move to "c".
...allowing time for a correction to form provides suitable r:r for the next motive wave down.
1 thing to be alert to is the whipsaw, a B wave up then a C wave down.
if TradingViews's EW wave count = True
then TP = 220pips