mikebamber

mikebamber

decent R:R setup here.

mikebamber

converging 15 mins before the announcement

mikebamber

CME_MINI:NQ1! Just putting the downside levels out there .... :)

mikebamber

I guess we need to see if the right shoulder appears at the neckline down at 1.11000 Then it could be go time!

mikebamber

I believe we are close to finding out BTC's new direction. I cannot tell exactly what the market is waiting for (maybe more news from PBOC?) but our move should be quite soon.

mikebamber

Keep an eye on the price action - if we break 9300, we could be looking at another selloff.

mikebamber

Simple idea based on BTC breaking its downtrend. This could signal the end of the pullback and a further break to the upside. /mike

mikebamber

So there are two clear reasons why this is a good short trade. 1. We have hit a resistance in the clear trendline 2. There is a stored up correction now due - almost all big jumps have a corrective pullback to at least 50%. Happy Trading :) /m

mikebamber Updated 

Pretty clear uptrend has made itself known. Risks to this trade today (24/10/19) include ECB rate announcement and US Capital goods announcements. /mike