BTCUSD How things can turn bad if you don't buy the right level?
Updated
Hi everyone,
Today, I wanted to share a bit about charts with you.
So in this chart, I take the chance on 2 things that can happen with following assumption.
- blue II is in place and we break above 7,537.00 from current levels
- you missed the entry in 1h yesterday and missed the 3 waves at blue 3 (I would not have bought there personally) and
- you absolutely want to be in because the chart says bullish sequence is break of 7,537.00 aiming at 11k in 4h, so you buy break of 7,537 stop below 7,394.90 because my comment said so
Sometime, people ask me what I think about BTCUSD, NEOUSD etc...
I always reply that I don't think anything, or more precisely I should say that what I think does not matter.
Well, when I propose a chart, I have at least 3-5 alternate counts through the different time frames and I propose the preferred path (of resistance) and 1 option. So, obviously I think about a lot of things about BTCUSD, NEOUSD, ... but it does not matter because in 10 minutes, market would have changed and have to redo everything on the chart (hopefully taking alternate options I had, but then with a new configuration 5-6 new paths occur, etc...)
So, a chart - my charts at least - should not be seen at the Saint Graal and you trade every turn. NO!
A chart is a path that changes every tick of the market, so except if you are in a live trading room, with real time update, you should look at a chart for levels and invalidation. If there is no such things, then this is just blabla about what the author or the next guy thinks. I have greater respect for the major players in the cryptocurrency but they go like BTCUSD 15k by year end, 100k in 5 years, what do you do with that? Me? Nothing.
The truth is in the price, maybe BTCUSD will be USD1mil or 0 in ten years, well I don't care. I trade with entry level, stops and target and I'm not in love with any cryptocurrency when it comes to trading. Investing is another story.
If you have questions, you are most welcome to post a comment and do not forget to leave a like ;-)
Today, I wanted to share a bit about charts with you.
So in this chart, I take the chance on 2 things that can happen with following assumption.
- blue II is in place and we break above 7,537.00 from current levels
- you missed the entry in 1h yesterday and missed the 3 waves at blue 3 (I would not have bought there personally) and
- you absolutely want to be in because the chart says bullish sequence is break of 7,537.00 aiming at 11k in 4h, so you buy break of 7,537 stop below 7,394.90 because my comment said so
Sometime, people ask me what I think about BTCUSD, NEOUSD etc...
I always reply that I don't think anything, or more precisely I should say that what I think does not matter.
Well, when I propose a chart, I have at least 3-5 alternate counts through the different time frames and I propose the preferred path (of resistance) and 1 option. So, obviously I think about a lot of things about BTCUSD, NEOUSD, ... but it does not matter because in 10 minutes, market would have changed and have to redo everything on the chart (hopefully taking alternate options I had, but then with a new configuration 5-6 new paths occur, etc...)
So, a chart - my charts at least - should not be seen at the Saint Graal and you trade every turn. NO!
A chart is a path that changes every tick of the market, so except if you are in a live trading room, with real time update, you should look at a chart for levels and invalidation. If there is no such things, then this is just blabla about what the author or the next guy thinks. I have greater respect for the major players in the cryptocurrency but they go like BTCUSD 15k by year end, 100k in 5 years, what do you do with that? Me? Nothing.
The truth is in the price, maybe BTCUSD will be USD1mil or 0 in ten years, well I don't care. I trade with entry level, stops and target and I'm not in love with any cryptocurrency when it comes to trading. Investing is another story.
If you have questions, you are most welcome to post a comment and do not forget to leave a like ;-)
Note
Hi everyone, I guess you know which count is on? In between the red and the blue: a third option! blue count is off the table for now and red 4 is still in the process.Why? because we have continued divergence in the rsi and price is compressing (thus the triangle). But again, if 7,559 breaks from current level, then blue count will be back in play. 15min is so many options coming so fast that is very difficult to explain in real time.
If I had to trade that, will patiently wait for red II if reached.
Note
And it was another path ...But does it matter?
invalidation level is 7,026.90 ans as long as above that market can do whatever, I don't care. I'm in from 7,600ish (1h) and 7160ish (4h)... stop now raised to 7,026,90
Trade safe
Note
1h nothing has changed ...Note
And there it changes again in 15min, but 4h still the same while 1h got adjusted but view is same ...
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