Based on our Big-Pic View (linked below ) we will go long here with the marked inital SL, for at least a c' of Iv but maybe more...excellent ChanceRiskRatio...
Note
actual SL in the winning zone.....decide for yourself whether to trail the SL steeper with the steeper bright red line or as here with the dark red line...SL may be trailed with the steep line, as long as BTC respects the red make or break line, long short which will divide a iv' from something else...
if he manages to get beyond it one can switch to the dark red line going not so steep...
Note
Note
the other trailing method made visibleNote
steep trailing SL update...BTC does respect the make or break line so far...steep trailing preferred by this behaviour: SL at 12365 from entry 11200.
So we have a winning trade of 10,4 % by now...
Note
Breaking through what is labelled ii-iv-line...signals end of C or a big EDT is forming to build the low of C still to come...Note
That is meant by big EDT forming to build the low of C...If you like this big EDT idea then switch back to steep line trailing because the 2 of EDT could end here soon and you do not want to give back any of your winning trade, do you?
Note
Note
steep trailing SL at 12600 now....ca. 11600 for dark red line trailingNote
steep trailing SL hit at 12690 for a winning trade of 13,3 %Note
Note
we are already familiar with these 3 wave overshooting b-tops now, aren't we?Note
dark red trailing SL at 11700 by now...Note
Note
dark red trailing at 11900 now, as BTC finds fast tops these days, it is not clear whether the top is already in...or if he really is in for something more...looks like a rounding top so far , or mini s-h-s formation...Note
dark red line trailing stopped out at 11920 for a winning trade of 6,4 %...BTC is falling steeply here.
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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.