This is an update from the afternoon of 02/20/2022.. if you haven't seen it, see the post with all the description and techniques used:
-CORRECTION-trading-strategy/
WEDGE DESCENDETE AT 1H FORMED!!!
Upon entering the turmoil zone where there were a large number of waves, BTC formed a descending wedge pattern, a pattern that usually breaks out to the upside.
DESCENDING WEDGE.
Trend reversal pattern where the asset loses funds but does not continue to fall, generating a depletion in the buying force.
This pattern was formed in the price turmoil zone and on the oversold RSI. It took an update in the price entry zone sideways before entering the oversold zone on the RSI, which pulled it further down, sorry I wasn't home to post.
Now I continue operating this pattern by making entries at the base of the wedge, taking 10% profit on the resistance of the wedge and if there is a continuity of fall I add this profit to the base again to have the best average price. I canceled my stop and now I will accept the stop loss if we miss the bottom of the wedge.
This pattern is the same as when I took the bottom of the monthly, previous post, where when entering the buy zone it formed a descending wedge and broke up.
WEDGE DESCENDETE AT 1H FORMED!!!
Upon entering the turmoil zone where there were a large number of waves, BTC formed a descending wedge pattern, a pattern that usually breaks out to the upside.
DESCENDING WEDGE.
Trend reversal pattern where the asset loses funds but does not continue to fall, generating a depletion in the buying force.
This pattern was formed in the price turmoil zone and on the oversold RSI. It took an update in the price entry zone sideways before entering the oversold zone on the RSI, which pulled it further down, sorry I wasn't home to post.
Now I continue operating this pattern by making entries at the base of the wedge, taking 10% profit on the resistance of the wedge and if there is a continuity of fall I add this profit to the base again to have the best average price. I canceled my stop and now I will accept the stop loss if we miss the bottom of the wedge.
This pattern is the same as when I took the bottom of the monthly, previous post, where when entering the buy zone it formed a descending wedge and broke up.
