elliott wave on shorts

Nov 22, 2018

may be doing TA on shorts for some of you guys is non-sense but to me is a very very good indicator of general sentiment direction. to be a profitable trader you should know the stream and swim on the river in opposite direction unless you will lose. so this the stream we are in bull market at BTCUSDSHORTS so we are still heading lower in BTCUSD. general trend analysis is working very well on shorts. it seems we are completing wave 4 and entering wave 5 take look at chart.doing a FIB Retracement tool on every green candle, if our corrections is still above the 61.8% of fib level we respect the trend. also daily rsi has room to go up but on the other hand also price daily rsi has room to go up. this is a contradiction. but we should always bear in mind that price action is more important than indicators because rsi can simple head lower again it is just representing price in other way and it is very useful on distinguishing bearish and bullish divergences. so after all strategy is so clear. we should not do anything until btc movement. if we fall below 4300 on finex with volume we should go short. if we go above 4720 on finex and set a higher high with volume we should go long. but i suggest not long in this trend because it is hard to know how much power that bears have in this very very bearish market. i suggest going long if and only if we break 5000 level with huge volume because it is a big phsycological level and also it is last big daily red candles 61.8 fib level.

Nov 24, 2018

Note

completing elliott wave