BitcoinLong
BTCUSD - Short term spike
Updated
This is a very short term chart describing my position.
We have completed three waves down and now we are in the 4th Wave correction (Wave 5 of Wave A).
My position
Entry: 6300
TP: 6600 (50%) and will let the other run till 6800
SL: 6284 (Extreme of Wave 4)
Furthermore, the support lines that I had posted more than 10 days ago is still holding. As expected Wave 3 made a 3.618 extension and missed the exact target by like 40 points. I expect a rally in the near future. Just enough to make a lot of shorts close their positions.
I'm siding with the bulls for a change as the market is too bearish. The lucrative Risk to Reward is on the long side.
Godspeed
_________________________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
We have completed three waves down and now we are in the 4th Wave correction (Wave 5 of Wave A).
My position
Entry: 6300
TP: 6600 (50%) and will let the other run till 6800
SL: 6284 (Extreme of Wave 4)
Furthermore, the support lines that I had posted more than 10 days ago is still holding. As expected Wave 3 made a 3.618 extension and missed the exact target by like 40 points. I expect a rally in the near future. Just enough to make a lot of shorts close their positions.
I'm siding with the bulls for a change as the market is too bearish. The lucrative Risk to Reward is on the long side.
Godspeed
_________________________________________________________________________________________________________________________
I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
Trade closed: target reached
Took less than 2 hours :D
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