BTC Price Action
Day/Swing trading only
Price Action is always the best and works well for a quick trade. Any indicators are just noise but gain confidence like divergences and bullish/bearish signals imo.
I always look and draw a channel and pattern, and add Elliott wave 12345 and ABC.
Also I look for a spike in volume during the breakout of a consolidation/pattern before I enter and exit when I see a spiked sell volume.
June 26 - symmetrical triangle with a complete Elliott wave 12345 - breakout
June 27 - bull pennant with a complete Elliott wave ABC - breakout
Plus, BTC formed Swing High and Swing Low, that's how I found the uptrend channel.
June 28-29 - two patterns; falling wedge and ascending triangle with a complete Elliott wave 12345 - breakout!
June 29(Late night) - a weak ascending triangle with no Elliott wave - a failed breakout, then selloff below the channel. Also, as you can see, it completed a Elliott wave 12345 within the uptrend channel from June 26 to 29. That is PERFECT TIME TO EXIT A TRADE!
Price Action is always the best and works well for a quick trade. Any indicators are just noise but gain confidence like divergences and bullish/bearish signals imo.
I always look and draw a channel and pattern, and add Elliott wave 12345 and ABC.
Also I look for a spike in volume during the breakout of a consolidation/pattern before I enter and exit when I see a spiked sell volume.
June 26 - symmetrical triangle with a complete Elliott wave 12345 - breakout
June 27 - bull pennant with a complete Elliott wave ABC - breakout
Plus, BTC formed Swing High and Swing Low, that's how I found the uptrend channel.
June 28-29 - two patterns; falling wedge and ascending triangle with a complete Elliott wave 12345 - breakout!
June 29(Late night) - a weak ascending triangle with no Elliott wave - a failed breakout, then selloff below the channel. Also, as you can see, it completed a Elliott wave 12345 within the uptrend channel from June 26 to 29. That is PERFECT TIME TO EXIT A TRADE!
Johanco
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.
Johanco
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.