BTCUSD H4 Update, Z down?
Actualizado
H4 were in a tricky spot!
If your still in the internal wave C buy from my previous idea you would be at break even at the very least, as of this point I would suggest to take it all off for small profit and wait for next setup or at least take half off. We gained nice profit in wave A and a little profit in the C wave which is nothing to be ashamed of when were trading a correction.
In my previous H4 BTC idea I was looking for the correction up to complete wave X as a simple ABC correction. Yes we are in a correction, price action in internal B wave convinced me of that (see previous idea and all the update's) but now as of this point internal wave C never broke above wave A. Is internal wave C over or not that is the question. If wave C broke above wave A we would have a much better idea what the go is so that's why I mentioned were in a tricky spot.
We can never be sure internal wave C up is over with the current structure until the low is broken, if we sell the break of the low for Z down that gives us very poor RR so that's clearly not an option. H4 TL still hold's so this market is very much still bearish.
H1 we have bearish divergence with 5 up and an impulse down, TL still hold's but it's looking like price is building a bearish flag. The flag is incomplete at this stage so there is no hurry to jump into to the sell. If your looking for the H4 Z down sell be patient and wait for the H1 bear flag to form before jumping into the sell on the break. 1st TP will be the break of wave Y low, 2nd TP we will have to play it by ear but if we get a similar size wave as wave W we could be looking at the $1600 area.
H1 Chart.
For the longer term investors if we get the H4 Z down that will give you a nice opportunity to buy for the longer term, at this stage there is no buy setup's that I can see so you need patience before you start loading up! ( I will put out a new D1 longer term idea once I have more data that a low is in place)
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
Previous H4 idea, Checkout the detail's and all the update's if you want to get up to speed on my point of view.
D1 idea. Checkout the idea and all the update's for the complete picture thank's.
If your still in the internal wave C buy from my previous idea you would be at break even at the very least, as of this point I would suggest to take it all off for small profit and wait for next setup or at least take half off. We gained nice profit in wave A and a little profit in the C wave which is nothing to be ashamed of when were trading a correction.
In my previous H4 BTC idea I was looking for the correction up to complete wave X as a simple ABC correction. Yes we are in a correction, price action in internal B wave convinced me of that (see previous idea and all the update's) but now as of this point internal wave C never broke above wave A. Is internal wave C over or not that is the question. If wave C broke above wave A we would have a much better idea what the go is so that's why I mentioned were in a tricky spot.
We can never be sure internal wave C up is over with the current structure until the low is broken, if we sell the break of the low for Z down that gives us very poor RR so that's clearly not an option. H4 TL still hold's so this market is very much still bearish.
H1 we have bearish divergence with 5 up and an impulse down, TL still hold's but it's looking like price is building a bearish flag. The flag is incomplete at this stage so there is no hurry to jump into to the sell. If your looking for the H4 Z down sell be patient and wait for the H1 bear flag to form before jumping into the sell on the break. 1st TP will be the break of wave Y low, 2nd TP we will have to play it by ear but if we get a similar size wave as wave W we could be looking at the $1600 area.
H1 Chart.
For the longer term investors if we get the H4 Z down that will give you a nice opportunity to buy for the longer term, at this stage there is no buy setup's that I can see so you need patience before you start loading up! ( I will put out a new D1 longer term idea once I have more data that a low is in place)
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
Previous H4 idea, Checkout the detail's and all the update's if you want to get up to speed on my point of view.
D1 idea. Checkout the idea and all the update's for the complete picture thank's.
Comentarios
We are getting a nice bear flag on H1 at this stage but patience is needed, We need a solid candle close breaking flag before selling or you could put sell stop at low of impulse to stop you from getting false break. This flag could keep on building for some time to come and could even turn into a smaller bearish structure so be patient. If we only get a bear flag this will be a good sign were at the start of the H4 Z down, if we get a smaller structure things could become much more complex that's why I emphasize on the importance of patience. For the bull's there is no buy setup's that I can see, price is very much bearish on H1, keep all your ammo for the right time.
Comentarios
H1 we got a lower low then price pushed straight back up again. It's looking like we will get a bearish structure instead of a flag as mentioned in the last update, expanding flat most likely so if you got triggered into the trade short you will need to place your SL just above the impulse down as we don't know where the internal C wave will end (invalidation point).Comentarios
Just a quick update. As I mentioned in my last update we got a structure on H1 and not a bear flag like I would have preferred so I could have been more certain of the H4 Z down. Because we got a H1 structure It make's thing's much more complex and this consolidation could go on for some time yet on the H4 like we had in the past. H4 chart, take not of the blue boxes.
Comentarios
H1 I'm still bearish, this is how I'm currently looking at it. The H1 C can easily turn into a Y and the H4 Z plays out or it could become much more complex on the H1.Comentarios
BTCUSD H1 Update. Checkout the idea detail's for the complete picture thank's.
Comentarios
BTCUSD Y Wave Down. Checkout the idea detail's for the complete picture thank's.
Comentarios
BTCUSD Y Wave Down. Checkout the idea detail's for the complete picture thank's.Comentarios
New D1 idea out, Check it out thank's.BTC D1 Wave C up, Running or Expanding flat.
Comentarios
BTCUSD W1 Basic EW ABC Correction. Checkout the idea detail's for the full run down thank's. 
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