BTCUSD Bullish Penant on H1
Target is the wave 5 1:1 extension.
Not much else to say about it but we keep going up. Will update with smaller movements so please don't forget to leave a like so you get notified when I make an update. I realised that even if you follow someone, you don't get emails when they update ideas by default, but if you like the post it does notify you!
Not much else to say about it but we keep going up. Will update with smaller movements so please don't forget to leave a like so you get notified when I make an update. I realised that even if you follow someone, you don't get emails when they update ideas by default, but if you like the post it does notify you!
Trade closed: target reached
closed half at the .618 and half still have a stopNote
breaking upwards on this one now
Note
So the triangle I posted last night didn't really play out too well. Was starting to look bullish then all of a sudden turns to the downside- this is typical weekend manipulation. I did open a speculative long at the 11900 region but I had a type stop below the bottom of the triangle so I sufferred a small loss. Now it is looking short term bearish. I would like to see a a bounce at the green zone around 11300, else we might see a sharp move down from there to the previous lows. This would not be a bad thing for long term bulls as generally longer consolidations are necessary to fuel a further rally. On the other hand, if we don't bounce at the 10300 area it could be a sign that the whole bull run is over already.
Note
By the way that short move up where the wave 5 didn't hit it's target is called a truncsted 5th. It's normally a sign of trend reversal.Trade closed: stop reached
Note
VERY interesting to see how these fib levels are playing out!
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