Felix000

#Bitcoin #Btcusd When to go long or stop shorts ?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
(See also my 2 hour chart update) When to go long? Three choices on my 2 hour chart but also apply to 4 hour chart. They are all points which had great significance in my thinking to go short. Williams Fractals (50% $7,367.6 H =$8,120.2), (50% $7,037.3 H=$7,509.7), (50% $6,991.5 H=$7,189.0). I cancel all my thoughts about shorts with a stop $7,189.0. Review going long. Can always short again later. Those 3 points on the 2 hour chart would also apply to the 4 hour. Bollinger Bands also narrowed on 2 hour chart to indicate that a touch of the bands either way would signal direction of market (sometimes can be false and you need a strategy to deal with). It's already done that once on the 2 hour chart indicating a possible break higher. If it did that again or broke beyond the previous touch could use that as a closer stop. The 4 hour chart also has bands close enough that if price touched would indicate where price was heading next.
Comment: All long for now. Price smashed through Bollinger Band again 2 hour chart.
Comment: I'm now going to switch to monthly and weekly charts. Less work.
Comment: I think I'll take on the daily charts as well but may look more like I'm copying from others.
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