Bitcoin strategy
Updated
Potential trading terminal
We could still be in a flat. But what if that flat was expanded? To maximise profits entry would be be at the 62% retracement, however to be safe a breach of wave 1 high would be a signal. There is a daily MACD cross, so it seems fairly safe to set buys just above the top of wave 1.
If the entry is obtained at the 62% retracement stops should be placed just outside of wave 1 bottom in case of shakeouts.
If the trade is taken at breakout tight stops just bellow the top of wave 1 can be placed.
The targets for the bull count are the 200-261% extentions
If however the bottom of wave 1 is broken the bull count is invalidated and the bearish zigzag count is used for a short. Only time will tell.
For the bear count targets would be the major supports at 3500 and 3000,.
We could still be in a flat. But what if that flat was expanded? To maximise profits entry would be be at the 62% retracement, however to be safe a breach of wave 1 high would be a signal. There is a daily MACD cross, so it seems fairly safe to set buys just above the top of wave 1.
If the entry is obtained at the 62% retracement stops should be placed just outside of wave 1 bottom in case of shakeouts.
If the trade is taken at breakout tight stops just bellow the top of wave 1 can be placed.
The targets for the bull count are the 200-261% extentions
If however the bottom of wave 1 is broken the bull count is invalidated and the bearish zigzag count is used for a short. Only time will tell.
For the bear count targets would be the major supports at 3500 and 3000,.
Note
I have a new primary and secondary count available I dont think I need to whip out the tertiary count just yet, but we have profits at the .618 entry it is possible to take profits here if you believe that the secondary count is in effect, however At the moment I will stick to my primary countTrade closed manually
I have taken profits and am following my primary countNote
profits were taken at 4350.70
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