Didn't get a chance to post this yesterday as life got in the way but I was mentioning in chat that we have an easy long on BTC from 6200 level, up to about 7300-7700. This morning we put in what I have as the 1of5ofA up and we are putting in the 2ofA now which will give us a decent re-entry in the 6300-6400 range. Alternatively, one can long on the break of 6540 as that will likely result in a quick push to my TP1.
I am long from 6200 and have marked my TP targets with green lines...
TP1: 6900ish (just short of 38% retrace)
TP2: 7300ish (jsut short of 50% retrace)
TP3: 7600ish (just short of 61.8% retrace)
I will likely be mostly if not entirely out around 7350 and will use final TP3 along with the other marked red lines to build a short with ultimate target around 5200.
This is not trading advice....just sharing what I'm doing. DYOR.
I am long from 6200 and have marked my TP targets with green lines...
TP1: 6900ish (just short of 38% retrace)
TP2: 7300ish (jsut short of 50% retrace)
TP3: 7600ish (just short of 61.8% retrace)
I will likely be mostly if not entirely out around 7350 and will use final TP3 along with the other marked red lines to build a short with ultimate target around 5200.
This is not trading advice....just sharing what I'm doing. DYOR.
Comment:
A close up of current 2ofA in case you missed the long earlier. Yellow boxes show entry levels.
Comment:
So my count was wrong and we had one more leg down. I do think the A is in now (again) and we are ready for a run to the mid 7K range in 3 waves. Original position got stopped out in profit and I have reopened in the 6100-6200 level again. BTC is now in a triangle after the first minipump up and I think this is a good spot to go long if you havent already. SL just below the last low as there is no reason to give it more room. It either pivoted here or it didnt and a long bets that it did.
GL
GL