Ian_Carsen

Ian_Carsen

Dot is in an uptrend, the idea would be to catch the next move up. The higher RR is likely to miss the entry--and if entry is filled not reach the indicated target but something more local. The lower RR entry (higher price) is not as rewarding however. Of course you may use local breakout etc entry techniques.

Ian_Carsen

If WLD keeps coming down and eventually hits the entry, this could be an OK trade. A bit risky since long-term target already hit on top. If there's a move up before entry is hit, cancel the trade.

Ian_Carsen

We're likely in a larger consolidation phase on Bitcoin. I'd expect something like the indicated moves. Looks as if the current support may hold. Regardless, there's a fairly strong one below that would be great for a long trade.

Ian_Carsen

There is a consolidation indicated. This trade, if filled before breaking out of consolidation could be very good. Price could also go lower. A higher risk much higher reward type of trade. Target would have to be determined later.

Ian_Carsen

Should be developed more/filled in 2-3 days I estimate. Target will need to be refined based on price action at the time. It's a new coin so less information for my trading methods.

Ian_Carsen

If price gets to the entry on the current down move, should be a nice trade. Yellow line should be the minimum target (1.45 RR), target 2 will change based on how the price action develops!

Ian_Carsen

ATH (All Time High) should be taken out soon. My primary trading methods require a bit more time and information before identifying additional supports. I would however be on the look out for a retracement soon after ATH--especially if ATH is not explosive. The way this price action seems to work is: take out a major extreme, and the associated stops--grab the...

Ian_Carsen

It appears most likely that BTC will make a larger 3-wave structure to the downside before another move higher--although this is of course not guaranteed. Based on the performance of the short to-date, I would not expect a large move down in price. BTC is very strong at the moment. Caution is warranted on the short side.

Ian_Carsen

BTC is 'gathering strength' it seems to move towards the strong resistance. Looks like we are currently on wave 4/5 of an Elliott impulse (this being wave 1 of wave 5 of cycle degree). Currently expecting the moves indicated. That's a pretty complicated and comprehensive forecast, let's see how I do!

Ian_Carsen

Assuming that one more impulse to the upside occurs from this corrective phase, this would be an excellent entry with great risk:reward and reasonable target!

Ian_Carsen

Entry is a good risk:reward balance. Possible price hits target before fill, in that case, cancel the order!

Ian_Carsen

In the case of a fill, this is a very volatile coin, could have a nice trade!

Ian_Carsen

It is possible price doesn't reach the 'definite short zone', however a trade should be taken here (not financial advise). Overall, however, BTC has made significant progress and it is likely new ATH are in the near future, but by the same token this BTC bull market is probably over this year.

Ian_Carsen

Ethereum seems to be a very good long at these levels, with potential targets much higher than those indicated. May not come down to the entry.

Ian_Carsen

A somewhat risky trade, probably should be able to exit in profit if using the more conservative stop loss. Possible will not reach indicated target.

Ian_Carsen

Price may stop at the indicated daily SOR. Likely. A safer entry is provided however. There is good risk:reward for either trade!

Ian_Carsen

Last week I provided a less likely breakout up scenario--this is what occurred. My personal emotional feeling is absolutely disbelief -- cue the various emotional cycle charts. The speed of the advance (after relatively vicious decline)... The fact is, this is a rally with at least some staying power. If there is a significant retracement in the rally from the...

Ian_Carsen

Should be a trade here in the near future if price doesn't continue moving up