Price reacted from my higher zone and is now painting a corrective pattern for one more down. This should complete the corrective impulsive C down ,into my buy zone for the larger move as explained in my previous post.
Looking at the how the higher corrective pattern will map out, I will be looking for this small correction to end on the 6h to take the trade down.
We closed our previous BSV trade in good profit once i saw the pattern develop a little more. I now think that we were actually completing a larger B wave (rather then an A for the new trend up.) and we should see a final impulsive C wave down. We should then be good to start the new series of waves up to break the ATH. The two levels I expect the C wave to...
If we make it up to the sell zone, I will take the short.
When trading bitcoin you always need a few scenerios, because it wasnt clear if we had originally broken the bottom of the original B wave, I always had two ideas in mind. The 1st I posted yesterday, this is my other analysis.
Sorry bit late posting this as I was away from home. BSV has left the buy ZONE, so BUYS are active.
We should see a small up move up to the sell zone to take our short.
Mapping out the DAILY we can see Price has left the sell zone and is moving down. I will only be looking for shorts on this pair on the lowers.
Looking at the weekly chart, we can now expect the correction to be complete followed by an impulse down. I will look at the DAILY chart to try and find an entry.
Looking at the bigger picture, I believe we have been in a corrective move since July. Ive mapped out my chart and found the Daily buy zone. We will now be looking for LONG trade on the lower time frames.
GBPUSD longer term is expecting to move up on the larger timeframes. Currently we are going to see a 6h/4h correction. SELL small position here then close trade and BUY once we hit the zone to jump in on the move up to around the blue dotted line. As the correction develops I will mark it on the chart and the levels we expect price to move to.
Need to see how the corrective pattern develops, I will be watching these areas on my chart.
We are currently in a larger correction waiting to complete for the larger move down. We can take opportunities like this to catch the smaller internal C waves before the larger correction ends. I will be expecting a correction here, similar to the others in the correction (marked on the chart) I will drop to the lowers to try and map out the smaller B wave...
The pound is expected to gain strength against the dollar long term as shown on this chart, however check my lower chart analysis as I am expecting a move down short term.
Once we see the internal correction complete, Im expecting to find an entry for the short term SELL down to to our larger buy zone. I expect to see the current smaller C wave break above the dotted blue line, then I will drop down to the smaller timeframes to find an entry (I wont be posting analysis below 4h on here)
Since DEC 2016 we have been in this huge monthly correction on the USDJPY. Once the smaller 4h B wave correction is over, it should give way to the final impulsive daily C wave down into our BUY zone, here we can catch the huge impulsive move up.
EURUSD has almost completed its corrective B wave which should be followed by an impulsive C wave down to my BUY zone.