Inverted head and shoulders pattern is complete. Now we need breakout of neckline. It will be continuation of wave 3 of 5 Elliot impulse waves. Price target is $18,270. However resistance at $12,000 is still strong, last three attempts to break it was failed, so it might be difficult to break it.
Quick little day trade I'll be watching for today.
Things seem to be squaring up nicely for BINANCE:ADXETH to have a breakout within the next few hours here if we can maintain volume and close above ~.00167
This kind of a set up is exactly what im looking for when it comes to relatively low risk day trades!
48 EMA getting ready to test 192 EMA support for...
BUY trigger was activated at 2:00 am today 12/5/17 on BTCUSD, as per my instructions on 12/4/17 (if close is above the $11,683 on the 60 min chart). The close above that level on the 60 min chart was $11,789 and the target of $12,240 was just hit.
Another successful trade, with clean and straightforward entry and exit within 24 hrs!!!
Happy Trading
Lindosskier
Price Target #1(Link to Original Below): $952
Price Target #2: $958
Price Target #3: $962
The variability comes from various (subjective) nuances, not least the small pennant that formed Dec 27 (0-7am EST)..
This target shouldn't reflect my bias, it is merely a use of the measure rule...
Good Luck and Happy Trading
P.S.
If it isn't obvious, all purple...
Here is a small display of how to measure a price target of a breakout after an initial flag or pennant forms... These short-term patterns often reflect the rally's halfway point and are great opportunities to test your price targeting ability.
The rest is easy, measure the length of the pole portion ($11.23 is the dollar value of the move) and than measure and...
