BTC just keeps repeating the same price action in it's descent.
G'Day Cobbers
Well what a day yesterday turned out to be, did you catch my head and shoulder call on the last post just before it fell or did you miss it. Today t seems to be building g the same pattern again as the price action is repeated over and over again . By no means are we certain to see this pattern come to fruition and is a very long way off but its worth a play, long the neck line and set a stop out side the neckline, set your buy around the first real big block where the tip of the shoulder would form and see how it plays out, if it turns out that we are building another bearflag you will soon see as it will break below what would be the neckline but don't set your stop to close or you will get taken out in a ranging accumulation/distribution period. You could also set a short at the tip when you can see the shoulder tip form and the market turn, and let it run all the way down or play it safe and wait for a confirmation of breakout of the neckline. If you short from the tip, set a stop loss at around 7600 , depending on your risk.
Good luck.
Remember there is a good chance that this is a bear flag, so be smart. watch and see before fomo ing in.
G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
Well what a day yesterday turned out to be, did you catch my head and shoulder call on the last post just before it fell or did you miss it. Today t seems to be building g the same pattern again as the price action is repeated over and over again . By no means are we certain to see this pattern come to fruition and is a very long way off but its worth a play, long the neck line and set a stop out side the neckline, set your buy around the first real big block where the tip of the shoulder would form and see how it plays out, if it turns out that we are building another bearflag you will soon see as it will break below what would be the neckline but don't set your stop to close or you will get taken out in a ranging accumulation/distribution period. You could also set a short at the tip when you can see the shoulder tip form and the market turn, and let it run all the way down or play it safe and wait for a confirmation of breakout of the neckline. If you short from the tip, set a stop loss at around 7600 , depending on your risk.
Good luck.
Remember there is a good chance that this is a bear flag, so be smart. watch and see before fomo ing in.
G'day
Thanks for dropping by, hopefully you garner something valuable from my post, be it educational or an idea towards a trade of your own. Please share, like and comment and engage with me, I am here to help.
Trader, Chart analyst and all round larrikin. Reside in NQ Australia, surrounded by Crocodiles, snakes & giant spiders, not to mention the boxing Kangaroos and devilish Drop bears. It makes my job quite hazardous but strewth mate, I love it.
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A little bounce at the neckline.
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MACD cross in progress. RSI stil got room to rise
