BCH/USD New Scalp Targets
Updated
Alright guys my last short guess was played out smoothly and I'm fucking excited right now! I'm laddering my buys to get a scalp opportunity. I think we might bounce from here if my calculations are right. If not, we might see one more wave down but I'm pretty confident that we will bounce before 520. Let tha games begin
Note
Good morning guys! I just woke up moved up my SL in this trade. Obviously we couldn't see any volume in past few hours. We bounced a little back to .38fib but still this looks like a deadcat bounce. I'm bearish until we get past Target 2 whichis .618 fib actually. I counted 3 subwaves up until now and if wave 4 ends lower than 545 I'm gonna close this position.As a reference to EW Rules;
*Wave 2 cannot be longer in price than wave 1, and it must not go beyond the origin of wave 1.
Wave 3 is never the shortest when compared to waves 1 and 5.
Wave 4 cannot overlap wave 1, except in diagonal triangles and sometimes in wave 1 or A waves, but never in a third wave. In most cases there should not be an overlap between wave 1 and A.
As a guideline the third wave shows the greatest momentum, except when the fifth is the extended wave.
Wave 5 must exceed the end of wave 3.
Trade closed manually
Target 2 reached but not in the way I anticipated so I call it a failiure
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