Short term trade potential.
Updated
Why do I think so:
Point B was a .618 retracement of A.
At point C, after the first green candle out it retraced by .786. .786 retracement typical targets are XXX, XXX, and XXX
The XXX target stated earlier sits right at the . 618 retracement of B-C
The overthrow of E in the triangle would drop it right down to where the gap is.
Coincidentally... if CD retraces by .618 of BC . Then as we know what the typical . 618 retracement of B-C targets are XXX, XXX and XXX putting E right at the futures gap close.
Also notice the 3 wave nature of each leg, making it a 3-3-3-3-3 Triangle.
As of right now, I don't want to reveal what typical targets are as they are proprietary information, but feel free to figure them out or contact me if you want to learn $$.
I did not put a target after E on purpose. If it plays out the way I posted then I have a general idea of where it's going, but won't know for sure until the first move out from E.
*Note: This does NOT mean BTC is Bullish nor Bearish. I cannot predict the future, I just read what's in front of me and determine what the high probability moves are. No one is right 100% of the time, make sure you manage your risk correctly.
Point B was a .618 retracement of A.
At point C, after the first green candle out it retraced by .786. .786 retracement typical targets are XXX, XXX, and XXX
The XXX target stated earlier sits right at the . 618 retracement of B-C
The overthrow of E in the triangle would drop it right down to where the gap is.
Coincidentally... if CD retraces by .618 of BC . Then as we know what the typical . 618 retracement of B-C targets are XXX, XXX and XXX putting E right at the futures gap close.
Also notice the 3 wave nature of each leg, making it a 3-3-3-3-3 Triangle.
As of right now, I don't want to reveal what typical targets are as they are proprietary information, but feel free to figure them out or contact me if you want to learn $$.
I did not put a target after E on purpose. If it plays out the way I posted then I have a general idea of where it's going, but won't know for sure until the first move out from E.
*Note: This does NOT mean BTC is Bullish nor Bearish. I cannot predict the future, I just read what's in front of me and determine what the high probability moves are. No one is right 100% of the time, make sure you manage your risk correctly.
Comment
Did not hit point D.Length of DE = .618 of Length BC
Possible target-zones up top. Wont know for sure until the first wave out of E
Here's the adjusted:
Comment
Probably won't pop until Monday.Comment
Once it hits a red target, I'm bearishComment
If it doesn't break a new high, obviously still bearishComment
If demand doesn't suddenly come in and break the highs, Looking for a short position after the bounce. Comment
Oops forgot to update this:Comment
Longer term: Comment
Update: different measurements same idea
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