closed Long position + 2325 points
Attached Image (click to enlarge)
2
Analysis and Trading based on Envelopes, Waves, Cycles
- #12,361
- Edited Jan 4, 2024 8:16am Jan 3, 2024 10:46am | Edited Jan 4, 2024 8:16am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
- #12,370
- Edited 7:18pm Jan 3, 2024 6:22pm | Edited 7:18pm
closed Longposition + 2325 points {image}
1. We'd had a big drop and price was consolidating - likely forming a base
2. We had a small double bottom, price broke higher then fell and found support at the 4/8 line.
3. The channels suggest price could move to the upside.
4. Entry on the break of that price action at the point on my chart below??
Exit here
1. FP target reached
2. Price looked like it may be forming a double top
- #12,371
- Edited 7:19pm Jan 3, 2024 6:57pm | Edited 7:19pm
BTCUSD 1 mn opened Long Position {image}
1. 50% retracement of the previous move higher, so likely the retrace is done
2. CMAs - two shorter CMAs still down but if retracement is over they will turn giving 4 of 5 CMAs pointing higher
Closed here because
1. 128 CMA turned down - meaning CMAs direction is now against your position
2. 50% retracement of the move lower
Or was it just dinner time?
- #12,374
- Edited 3:11am Jan 4, 2024 2:56am | Edited 3:11am
{quote} Nice trade aptx. What was the reason for entry there rather than on break of structure?
Target met
