LINK I think
Looking at my 12h chart today I adjusted my LINK setup. LINK has been in an uptrend parallel channel since mid June, 2023 running a WXYXZ. I also have an impulse 12345 running.
I had initially thought the wave 4 was complete with the wave 5 happening early December (white circle) but pa didn’t reach my wave 5 target. I then readjusted my wave 5 to late December (blue circle) where it did “just” meat my wave 5 target.
However, neither of these scenarios worked well with my WXYXZ parallel channel concept. Today I had a look at the length/time period of the wave 2 which was about 53d. adjusting my length of wave 4 things looked a little better.
I beleive wave 4 is not complete with the wick of January 4 (red arrow) which looks a lot better for the WXYXZ pattern and is preparing to complete my wave 5 target area offering a possible/approximate 29% gain.
So I’m presently watching the lower timeframes (1h, 30m, 15m, 3m & 1m) for an entry. I’m using 20x in futures so with a liquidation margin of only 3.8% I have to be careful and accurate. I’ll post an update when I enter and how it’s going.
Of course, all this is predicated on BTC not doing something incredibly crazy today/this week what with the ETF stuff going on.
My thoughts, not advice Oklah. Cheers
I had initially thought the wave 4 was complete with the wave 5 happening early December (white circle) but pa didn’t reach my wave 5 target. I then readjusted my wave 5 to late December (blue circle) where it did “just” meat my wave 5 target.
However, neither of these scenarios worked well with my WXYXZ parallel channel concept. Today I had a look at the length/time period of the wave 2 which was about 53d. adjusting my length of wave 4 things looked a little better.
I beleive wave 4 is not complete with the wick of January 4 (red arrow) which looks a lot better for the WXYXZ pattern and is preparing to complete my wave 5 target area offering a possible/approximate 29% gain.
So I’m presently watching the lower timeframes (1h, 30m, 15m, 3m & 1m) for an entry. I’m using 20x in futures so with a liquidation margin of only 3.8% I have to be careful and accurate. I’ll post an update when I enter and how it’s going.
Of course, all this is predicated on BTC not doing something incredibly crazy today/this week what with the ETF stuff going on.
My thoughts, not advice Oklah. Cheers
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.