I just had to make another post after the Hammer formation on the 4H timeframe which can drive the price higher to the $11,000 and I "found" another channel which can add significant strongness into the area.
The high probability BUY setup around $10,500 consists of:
1. The middle nr. $10,500. It is the weakest round number on the list but still, the zeros are there.
2. Fibonacci Golden Ratio 62% which should act as a support level and it matches exactly with this middle number.
3. Fibonacci Extension levels
4. AB=CD, D point has touched.
5. The most bigger parallel channel with blue trendlines. Two important points to make parallel channels are 20. July high and 6. August high.
6. A bit smaller and first downwards parallel channel (orange trendlines), important points are 6. Agust high and 10. August high.
7. The smallest parallel channel (red trendlines), important points to make it - 6. August high and 13. August high.
8. EMA50 on the Daily should act as a support level
Those three channels, Fibo, and middle nr. 10,5k make a really strong crossing area and the BTC price has got a rejection JUST from there. This rejection leads us to the next criteria.
9. The price touched all those criteria which can produce reversal and the rejection ended with bullish candlestick pattern Hammer on the 4H chart.
SUMMARY: A high probability setup! I will take it after every single time it has formed and I know in the long run I'm in the deep profits.
Now I have to remind you of quote from Mark Douglas: “You don’t need to know what’s going to happen next to make money. Anything can happen. Every moment is unique, meaning every edge and outcome is a truly unique experience. The trade either works or it doesn’t but the key is to think long term perspective!”
...and I know that - in the long run, I will make money after this setup has formed!
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
The high probability BUY setup around $10,500 consists of:
1. The middle nr. $10,500. It is the weakest round number on the list but still, the zeros are there.
2. Fibonacci Golden Ratio 62% which should act as a support level and it matches exactly with this middle number.
3. Fibonacci Extension levels
4. AB=CD, D point has touched.
5. The most bigger parallel channel with blue trendlines. Two important points to make parallel channels are 20. July high and 6. August high.
6. A bit smaller and first downwards parallel channel (orange trendlines), important points are 6. Agust high and 10. August high.
7. The smallest parallel channel (red trendlines), important points to make it - 6. August high and 13. August high.
8. EMA50 on the Daily should act as a support level
Those three channels, Fibo, and middle nr. 10,5k make a really strong crossing area and the BTC price has got a rejection JUST from there. This rejection leads us to the next criteria.
9. The price touched all those criteria which can produce reversal and the rejection ended with bullish candlestick pattern Hammer on the 4H chart.
SUMMARY: A high probability setup! I will take it after every single time it has formed and I know in the long run I'm in the deep profits.
Now I have to remind you of quote from Mark Douglas: “You don’t need to know what’s going to happen next to make money. Anything can happen. Every moment is unique, meaning every edge and outcome is a truly unique experience. The trade either works or it doesn’t but the key is to think long term perspective!”
...and I know that - in the long run, I will make money after this setup has formed!
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You!
Best regards,
Vaido
Commentaire:
The market got me but here is another BTC update:
Regards!
