Long

Medium Term Prediction of 2017 Channel Continuation

By Enric001

Updated

Buy now and stop loss down to bottom.

Next leg will take us €13000

Note the inverse head and shoulder that is forming

Note

Zoom in on levels to watch out for. There are many so finding bottom will be tricky. I don't think we will see below €7300. Lot of support atm on 8000. It might even withstand sell pressure.

Note

I got in at 8125 euro with half of a position. Although volume wasn't that impressive bulls wouldn't give up so bears didn't panic. I think we're looking at the same movement as previous bounce. We broke mid line and are heading for top of the channel. I'm selling that top.

Still believe that HS formation and sell pressure waiting for higher price will kick in with heavy pain.

Note

stopped out, waiting for the next level of support

Note

might do a quick scalp just in case it actually bounces of completely from fib level

Note

The bounce happened a little earlier than i thought and during the night so no go. Waiting for breakout or my buy zone.

Note

Interesting percentages. Either way there is a chance of making 10 to 20% on this trade.

Note

we broke out of bear channel, waiting slight pullback before getting in but with a tight stop loss on the previous resistance line.

Note

Possible scalp on the purple bottom side of previous bull trend but it depends on if I'm afk or on battle station.

I'd need one more leg on this run to trust it but thank god for stop losses.

Note

3 scenarios i see

If i get stop loss:ed out I'll buy green box.

If not let it run,

Note

consolidating above blue bear trend channel and for now above support/fib

Note

moment of truth.

We either break out of consolidation or dip down either below bear channel or bleed slowly above it.

Buy pressure looks real good.

Note

Breaking above HS formation would be golden!

Trade closed: stop reached

trade failed.

Note

Hanging in no mans land. Deciding where to go. Direction is unclear for me. Letting it drop

Note

It decided to take green channel. Got in at break out. Eearned my stop loss fee. Lets see if it goes over 8434 fib and resistance.

Note

retest of neckline got rejected but we're still trying buy sticking to the green channel.

Last night i took the trade after breakout but it failed stop loss above entry during the night.

It is backed by upper layer of bullrun from the previous bottom.

I took the trade at support this time again.

I'm looking at a risk profile of 3-to10% profit and 0% loss.

Note

Previous trade failed, but at no stop.

Breakdown to original buy target.

Note

Could be a good trade, but I might not take it depending on what time it happens and where I am. This one need active management. If i can get in really low. Sure otherwise I let live.

Note

wrong picture above

don't fully believe in this yet though, but possible.

Note

playing with fire.

MM will rule this one

Note

got a little break out, this one is prob only going to pennant roof. then down again

Note

we might retest outer green dotted bear trend line or pink fib level.

Note

above happened, same bounce again in the pennant, this time it might be the last one before breaking down to sub levels.

Note

yepp, the pennant is getting tighter so i'm guessing a no trade zone and a break down to lower buy boxes.

Note

Break out above, btc never ceases to amaze

Note

Might bounce anywhere really, buy again on confirmed support.

Note

headingr for retest of bear channel

Trade closed: target reached

Enric001

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.