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Very short term 3hour trade

BITFINEX:BTCUSD   Bitcoin / Đô la
It's quite hard to draw my arrows on this one as I am posting it somewhat early hoping that a 9 count will come. The probability is that a sequential 9 will give 1-4 candles reversal (including itself). I made a good short term trade yesterday using this indicator when a 9 showed up before this rally. Note that it shows a red 1 now where I shorted but at the time I shorted it was a 9 and so many people shorted here it changed the count to a red 1. it used to be that the reversal would come following the 9 but quite often it has been happening on the 9 recently and considering we hit the bottom of the triangle and started reversing, that short was literally an active trade for only an hour or two as I bought back in with support at 6800.

Either way be very careful with this trade. The daily chart shows probability that there is around 3days left of upside so this is a trade where you'll wanna have tight stops and be in and out quick unless the reversal comes in stronger than expected.

I personally think we will correct as low as $7500-$7600 before making moves back towards 8k and beyond.

My plans if the sequential gets to a 9 on this 3hr chart: I will most likely short it at the tail end of the 8 candle if the price is high enough (at least 7800) aiming for a 2-3% gain buying back in around 7600 unless the reversal is stronger than expected.

Good luck with your trades.
Bình luận: These arrows are more accurate with my comments but you get the idea. I'm expecting a 2-3% downswing coming up in 2 candles time:

Giao dịch đang hoạt động: Just shorted half my planned trade at $8180, looking to sell the rest over the next hour. If it doesn't come back to $8200 than I'll just hold my current position and buy back in under 8000.

Giao dịch được đóng thủ công: Ended up buying back in for about a 1.5% gain. Looks like the bulls are strong here. I'll be looking for another 9 at 85-8600 which is around the target of this triangle breakout but for the moment I'm back to being long.
Do you use a free Demark or TD indicator or do you use Tone Vays' version?
Phản hồi
AussieCrypto1 mightytrader
@mightytrader, I'm using the actual TD indicator that follows the rules 100%. It is free but it did take me a while to find it as a few I tried before it did not follow the rules of the sequential count correctly. Tone Vays version is only slightly different because he's scared of trademark laws I believe. The difference between the correct TD rules and Tone Vays is almost negligible and 99% of the time he's numbers/TD count is the same as mine when I've been bothered to watch he M.A show. I haven't been watching Tone much since he went fairly unprofessional and now spends half he's time chatting up Leah who literally adds nothing useful to he's market analysis videos.
+1 Phản hồi
mightytrader AussieCrypto1
@AussieCrypto1, LOL! I just realized that I, too, quit watching him when Leah started appearing. Is she his gf? Nothing against her but I don't see her purpose other than to keep Tone motivated and have company. I also don't care about any Bitcoin or crypto news. I could care less what the US Senate thinks or any gov't or whatever celebrity.. I only have interest in the charts and learn trading in these volatile and unregulated markets. The tech. fascinated me back when I first heard of Bitcoin in 2013; but now I don't really care as it's over my head; I only care about trading. Thanks for the response! I feel relieved I am not missing out or doing something wrong if I use the original version. =)
Phản hồi
AussieCrypto1 mightytrader
@mightytrader, No worries. Just search TD sequential 1.0 and you should find the indicator. Yeah, since Leah came on he's video's, the vibe has turned rather immature with Leah giggling like a little girl at times and Tone focusing on jokes more than the content. Since he's last trading bitcoin show that was on the farm, I haven't watched another one because of how much of my time he wasted. The video was incorrectly named and 99% of it was them just getting drunk, talking shit and socializing, maybe 1% of it was actually on trading bitcoin. Day by day I lose respect for Tone lol.
+1 Phản hồi
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