BTCUSD 1 mn
Opened Short Position
Opened Short Position
Attached Image(s) (click to enlarge)
2
Analysis and Trading based on Envelopes, Waves, Cycles
- #12,424
- Edited Jan 6, 2024 12:08am Jan 5, 2024 9:12pm | Edited Jan 6, 2024 12:08am
Dave, here's a good example of FLDs at work.
Price finding support on the white FLD (128), loses that support on the 6/8 line, then white FLD acting as resistance, then finds support at the orange FLD (512) 
Price finding support on the white FLD (128), loses that support on the 6/8 line, then white FLD acting as resistance, then finds support at the orange FLD (512)
- #12,426
- Jan 6, 2024 2:26am Jan 6, 2024 2:26am
- Joined Jan 2015 | Status: Trader | 5,146 Posts
Dave, here's a good example of FLDs at work. Price finding support on the white FLD (128), loses that support on the 6/8 line, then white FLD acting as resistance, then finds support at the orange FLD (512){image}
Like it
Ps
your trade looks bang on as well
Great stuff my friend
- #12,430
- Edited 9:06pm Jan 7, 2024 8:54pm | Edited 9:06pm
Looked like a DB forming but then price broke lower. All CMAs were pointing down so I entered short on that break. Target was based on combined LT and ST CMAs. Target was reached a minute or 2 after image.
