SHORT BTC (Prj.2019.P04.E05).MicroLevel.Target
Updated
As per chart outlay, a possibility rather than the downward wedge which most think it is.
Previous post
Previous post
Note
Chart update: Tracking both scenarios.Note
It seems it was the Wedge as per previous post Note
Trade closed: target reached
Target reached for what I envisioned. It can go higher but I will settle for this price..Note, This time round I had the fib fan accurate to help me draw the predicted path, As for the channel, its invalidated after it broke out of it. My next post shows how many wedges played in the Macro formation.Note
As you can see on the RSI, its hit the critical level which I indicated with the red region.Also note, how confluence is with the fib. pitchfork.Plus RSI indicating bearish divergence. Hence the reason for selling. Note
other confluences. Double top, RSI level, Upward wedge, previous resistance level, + fib.fan and fib.pitchfork lines, all say sell.
Note
Note
As per the original idea, I'm also considering this channel as we found the new line for ABCDNote
There is an upper part to the channel and lower part. Currently its sticking to the upper quadrant as per the fib.fan (orange lines).
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This community has signals now but with no risk management comms.
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