I re-created a trade I executed on a demo account I've been using to test this idea. I've been working on this strategy and, more importantly, my patience for the past 6 months or so. I'm Wondering if anyone else uses something similar to this when looking for entry points & confirmation. I'll do my best to explain the thought process on why I entered long,...
Yellow is the daily trend, white is the H$. I'm not trying to get too fancy on this, but I believe there is going to be a big move (up or down) for BTC coming very soon. I refuse to attempt a prediction on which way it will break, I'm waiting for clear confirmation before I enter.
First drawing using a different approach. Trying strictly trendlines and waves.
We are approaching wave 5 of an Elliott wave that could send us continuing on a great bull run so far this year. I think if it doesn't hold around that level, we could see a healthy correction before continuing upwards. The channel in White is going back to 2017 which were almost all critical turning points. The orange channel is what we've been in for most of...