Broad bottom formation
1. Find strong support level
2. Retest support level
3. Big volume full bar signal
4. Start swing trade.
Broad bottom - is formation via double bottom , reversed H&S etc.
Signal is important.
Timeframe is important.
If you swing correction after 1-2 months of fall - doesnt need to watch timeframes less than 12H.
If you swing correction after 1 week of fall - doesnt need to watch something less than 4H.
Points where you can enter positions:
* Near strong support (watch past levels, fib, BTCUSD + BTC-pair supports) - Agressive style
* With start of trade signal (because sometime it can be first impulse wave - usually for bull market) - Agressive style
* First pullback after trade signal - Classic style
* Rising after signal pullback - Classic style
Take profits levels - depends from resistance lines, fib-levels, BTCUSD, BTC-pair.
If it correction before falling down:
* For BTC and old currencies can be around 10% (or less, or more)
* For new and small currencies can be around 15-25% (or less, or more)
1. Find strong support level
2. Retest support level
3. Big volume full bar signal
4. Start swing trade.
Broad bottom - is formation via double bottom , reversed H&S etc.
Signal is important.
Timeframe is important.
If you swing correction after 1-2 months of fall - doesnt need to watch timeframes less than 12H.
If you swing correction after 1 week of fall - doesnt need to watch something less than 4H.
Points where you can enter positions:
* Near strong support (watch past levels, fib, BTCUSD + BTC-pair supports) - Agressive style
* With start of trade signal (because sometime it can be first impulse wave - usually for bull market) - Agressive style
* First pullback after trade signal - Classic style
* Rising after signal pullback - Classic style
Take profits levels - depends from resistance lines, fib-levels, BTCUSD, BTC-pair.
If it correction before falling down:
* For BTC and old currencies can be around 10% (or less, or more)
* For new and small currencies can be around 15-25% (or less, or more)
Note
Example of trade without signal (pattern is good but pattern not activated)Note
Example how recognize broad formation.Note
EDUCATION END.Example of success broad bottom formation. Same in the XRP.
Thank for reading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.