Potential EW Triangle getting put in on BTC
Updated
I've been tracking a short term impulse down that seems to be putting a 4 in right now and the 4 looks to be a contracting triangle - a personal favorite trade of mine. The invalidation point is if it goes beyond the C of my triangle - I'll be laddering in from 3770 to short the impulse wave down.
Trade active
E was a rather severe under-throw so I only got 2 shorts in. Using the length of the A we can project a potential thrust of the E - we got a reaction at 1:1 of the A from the E, and we've also run into support if you look left. stops moved to the 3615ish whilst I observe how strong this resistance is - EW wise on a micro level I see the 3rd in and expect some retrace before the 5th gets put in, at which point we switch to longs.
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