Hi traders,
I did short the rising wedge and now took profit. This can play out in a few scenarios in my opinion and its difficult to say.
Scenario 1) We have our selling climax that go the AR and this could be looking for our ST test phase B as part of the accumulation structure OR
Scenario 2) its creating a macro bear flag of some sort and we are saying here, a channel in orange for now, Part of a 5 wave count rather than a 3 wave count.
We have our ABC count confirmed as C hits our 1.618 fib extension but is it a 5 wave count. Bitcoin is in the same scenario in this perspective. Difficult for anyone to say.
So I will just trade the range until the puzzle is clearer.
All the best,
S.SARI
CUP and HANDLE Target hit - profit taking
ABC correction
Is it a wave 5 to the downside
Potential reversal scenario
I did short the rising wedge and now took profit. This can play out in a few scenarios in my opinion and its difficult to say.
Scenario 1) We have our selling climax that go the AR and this could be looking for our ST test phase B as part of the accumulation structure OR
Scenario 2) its creating a macro bear flag of some sort and we are saying here, a channel in orange for now, Part of a 5 wave count rather than a 3 wave count.
We have our ABC count confirmed as C hits our 1.618 fib extension but is it a 5 wave count. Bitcoin is in the same scenario in this perspective. Difficult for anyone to say.
So I will just trade the range until the puzzle is clearer.
All the best,
S.SARI
CUP and HANDLE Target hit - profit taking
ABC correction
Is it a wave 5 to the downside
Potential reversal scenario
Note
I do a whole lot of explaining in my video yesterday.youtu.be/jrtHaqcz2aA
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.