Intraday counting of BTC
Updated
Hello
Sometimes Impulse counting can be much more difficult than correction (for me) and this is because in correction marking you can finally figure out the pattern (Most of time) but in impulse waves there many different counting alternatives even when the trend is finished. So I have different strategy for impulse and it is I separate then buy most probable wave 4 corrections.
For example BTC is in an impulse trend and we can not decide exactly what counting is correct (because of extensions) so I mark wave 4 whenever I am lost in the counting and then start again after next correction.
I explained it because I know most traders are lost in impulse waves but considering the extremities of wave 4 (as our SL levels) can help us to set a trailing strategy.
For now BTC is in a Symmetrical Triangle and as you know it is a sign of reversal.
Lets BTC breaks out the triangle and get in with Triangle Trading Strategy.
Thanks
Sometimes Impulse counting can be much more difficult than correction (for me) and this is because in correction marking you can finally figure out the pattern (Most of time) but in impulse waves there many different counting alternatives even when the trend is finished. So I have different strategy for impulse and it is I separate then buy most probable wave 4 corrections.
For example BTC is in an impulse trend and we can not decide exactly what counting is correct (because of extensions) so I mark wave 4 whenever I am lost in the counting and then start again after next correction.
I explained it because I know most traders are lost in impulse waves but considering the extremities of wave 4 (as our SL levels) can help us to set a trailing strategy.
For now BTC is in a Symmetrical Triangle and as you know it is a sign of reversal.
Lets BTC breaks out the triangle and get in with Triangle Trading Strategy.
Thanks
Note
Our Triangle was failed and it is the main reason we must not trade in the triangles (as Robert D. Edwards in his text book in technical analysis emphasized about that).For now we should recount it.
AMA
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