BTCUSD
Just a quick update on my last idea as if or when it happens then it is good to be aware of what is going on as most trader who dont read my posts have no idea really what is going on.
I am becoming convinced that we are going to see a double bbc wave inside this phase. Most of my TA is based on my own style of TA which i have developed using phases, but i am now finding that using elliot waves for the price movements inside the phases is very useful.
So i expect the second abc wave to be happening shortly. I think the c wave of the first abc wave wil be the same length as the b wave. The A and C wave of the second ABC iwill be the same length of the A wave in the first ABC and the B wave of t second ABC will be the sam length as the BC and C wave of the first ABC. (wow that...sounds confusing writing it down.
The next set of waves i have not analysed properly yet but should it look like what i say abouthave a double ABC then i will do the work on the 12345 waves.
So just because soon we will see quite a big drop, dont start to think that the bear market is resuming, i dont think it is, i just think in this reversal transition phase it has to do 2 abc sets or else it cant hgave a bullish 12345 wave.
It will be risky trading the a and c waves of second abc waves, but i will do it but only when i am in close attendence as if i have it slightly wrong it could prove dangerously expensive.
Also please note, i am sharing my ideas i am not telling anyone to trade on my ideas...this is jsut for information purposes only.
You might wannt to check the two previous linked ideas too to see how we got here....also please feel free to tell me hopw wrong i am hehe ;)
