Bitcoin - Proper Planning Prevents Poor Performance (5ps)
Updated
My research shows that becoming overwhelmed is the leading factor in why many traders suffer continued losses or consistent drawdown.
The big question is always regarding indicators, which is the most profitable and which indicators should i use.
As many will know there is a fine dividing line between what is too much and what is too little.
Although harmonics represent less than 5% of my trading, it's a tool that can be used to provide a different perspective when identifying potential reversal areas.
Using harmonics ( Cypher Setup ) in this occasion provides an additional area of potential reversal at $10,400 which coincides with previous posts.
I suggest using the above information as to where price could find minor resistance as opposed to a definitive area of reversal.
I hope the additional information is informative and not a hindrance.
Many regards,
Tom Hall
The big question is always regarding indicators, which is the most profitable and which indicators should i use.
As many will know there is a fine dividing line between what is too much and what is too little.
Although harmonics represent less than 5% of my trading, it's a tool that can be used to provide a different perspective when identifying potential reversal areas.
Using harmonics ( Cypher Setup ) in this occasion provides an additional area of potential reversal at $10,400 which coincides with previous posts.
I suggest using the above information as to where price could find minor resistance as opposed to a definitive area of reversal.
I hope the additional information is informative and not a hindrance.
Many regards,
Tom Hall
Note
Price is looking to break the neckline of the overall H&S formation, this breakout could cause some large bullish momentum candles.Keep a close eye into today.
Note
Inverse H&S neckline now broken, expect upside towards $10,400Note
Price is now approaching D leg completion of the Cypher setup after the solid H&S breakout.Note
Price testing just shy of the $10,400 level as predicted, now potential downside on it's way.Note
I will either be targeting $5,000 or $20,000Click below to view the full analysis.
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