It all comes together, i hope... ;)
Let's see if we see the fractal repeat itself.
The exact thing is pretty experimental, let's see how it works. I know i've been saying this for a long time, but i think i'm gonna make a tradingplan soon.
The instructions are in the chart and discription, i think i got your back. USDCAD analasys and tradinplan.
You're going to be trendfollowing and breakout trading with this chart. The rest is pretty self explanatory.
So this is an experimental technique, Listing 3 most likely scenarios, act on price but be a trend follower. Really curious whether this type op semi self-developed TA works or not. Any feedback would also be appriciated. I might publish a trading plan for this chart soon.
Shout out to themerle for mentioning me on their site, and shout out to @philipvdlinde for being an awesome mentor! :) We'll probably see a small breakout above or under the current consolidation (422.10 or 436.45), and then a rejection, followed by a trend in the opposite direction. In a bearish trend scenario we'll see the price will fall to around 372 followed...
List multiple possibilities. Of which the most likely marked in blue. I also have another "extremely" simplistic chart about the BTC market in 2016, which has a slightly differend opinion. (related idea)
I couldn't find an easier and more simple way to chart than this.
If you look a bit on the left and zoom out or change timeframe, i have mapped the long term market structure too. This chart is pretty self speaking and has instructions.
Short term safe short. I the target is a bit more speculation.
Get on the hype train before it crashes. This chart is NOT short-only, So is this the wave of false hope or the pre-bubble?
Whether this is the wave of false hope, or the beginning of the new bubble, short term target lays below
Updated chart with my reasons for goin long, along with a pretty complete view of the market structure, and price action ofcourse.