BitcoinUpdated BTCUSD - 1D - Double doji pattern
Not a financial advisor.
Currently looking at prices closing above the MA20 and currently printing a double doji (Depends how the daily will close).
I normally do not trade the double doji pattern but it is interesting to see it printing out on the daily.
Stop loss - either the MA20 (but as you can see often candles pierce below) or the lowest wick from the Dojis.
Target - I have been discussing whether this is a "M" or a "W". I am currently biased towards a W or even a Cup and Handle.
I suppose target is easy to calculate.
Good Luck!
Currently looking at prices closing above the MA20 and currently printing a double doji (Depends how the daily will close).
I normally do not trade the double doji pattern but it is interesting to see it printing out on the daily.
Stop loss - either the MA20 (but as you can see often candles pierce below) or the lowest wick from the Dojis.
Target - I have been discussing whether this is a "M" or a "W". I am currently biased towards a W or even a Cup and Handle.
I suppose target is easy to calculate.
Good Luck!
Note
I would not consider the current candle a doji but ... well it is behaving as expected...meaning:- yesterday's doji at MA
- "W"/ Cup and Handle formation
=> let's wait for the reaction at the W or the C&H neckline.
Note
Restesting the MA20 daily:Note
BTC better behave here:Note
Note
Breaking downTrade closed: stop reached
Trade active
Possible bounce...indecision...Waiting on the triangle to resolve itself!Note
The W pattern is still in play:
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