Like I mentioned yesterday in the bitcoin chart, you want to look for all high probability options so if one fails you have a back up. I received a request to chart Ethereum(my first love) so I wanted to show you the 3 options I found. Remember, your job as a trader is to find counts, measure the Risk / Reward, and decide if the trade fits your plan. Above all, be...
When it comes to trading there are no certainties. We trade off probabilities only. We look for the highest probability structures, measure the Risk/ Reward, and decide if the trade fit's within your plan(s). It is important to not fall in love with a single count, whether bull or bear. Stay open and build multiple roadmaps(counts) based off the data that the ...
After a complex correction bitcoin hit the algo target completing the C wave of the Y wave just short of the 618 fib level which is the HPZ(High Probability Zone) of Wave 2. We got the reaction we were expecting. So the question is, do you think the correction is over? There is another count where this is just the A Wave of the Y. Pick your side, Bull or Bear.
We got a complete 5 wave structure to make our Wave 1. Now we need to test the low to see if it holds. The HPZ (High Probability Zone) for Wave 2 is between 540 and 500(ish).