8K -> 15K -> 5K
Hi,
After a long which has failed ($8600 closed at BE), I bought the lower boundary of this likely channel.
1> Completion of a bullish butterfly
2> 0.618 retracement of the whole 2017 rally
3> SMA 200 daily.
I'm expecting a retracement to 15.300 to complete a bearish cypher. Then going short again for a final target at $5000 for 2018.
If this scenario is succesful, i'm expecting a long time range between 5K and 8K during this spring until early summer before beginning a new bullish wave.
Time will tell.
After a long which has failed ($8600 closed at BE), I bought the lower boundary of this likely channel.
1> Completion of a bullish butterfly
2> 0.618 retracement of the whole 2017 rally
3> SMA 200 daily.
I'm expecting a retracement to 15.300 to complete a bearish cypher. Then going short again for a final target at $5000 for 2018.
If this scenario is succesful, i'm expecting a long time range between 5K and 8K during this spring until early summer before beginning a new bullish wave.
Time will tell.
Trade active
Note
Short time framed.121 bullish pattern / 1000$ drop from yesterday top.
Added long at 8500.
If not enough, back to 8000 for bullish cypher.
Note
Better fibo confluence for 121 + inner bullish bat + 0.618 retracement.TP 10.200 bearish AB=CD
OR
Srtucture of a likely gartley (invalidation for this scenario if price breaks the dashed TL / above 9.000)
In short, if
Trade closed: stop reached
Stop triggred at 7800.Tiny short 7700 / Closed $6700
Rebought at $6700
Tricky Gartley - TP on chart
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.