This is very much experimental analysis, have put very into it, trade is already in. I'm experimenting with Fibonacci Circles applied with a similar technique I am already using for classical Fibonacci and sometimes it picks very much interesting points. BCH is moving relatively wide swings with huge gains which makes it very good for swing trading / scalping. Target on chart, with a very short trailing stop. BCHBTC looks like completed ABC correction and is going for its wave 3 and BCH usually spikes like a rocket, let's see how this unfold !
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I have put together both techniques to check confirmation and it all looks like there is a good risk return here:
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A zoom in shows we need to break out above the MA50 on 1H for this run to pickup pace and so far it is a little bit shy:
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A bit delayed, but looks like it started finally:
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Setup invalidated, timing was not right, BCH is going for ABCDE correction, if you are already in and can wait for 3 days it can still payout, this will be the new setup which I will publish in 3 days:
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BCH is trapped on circle triangle, once it break out of this formation I will publish another idea:
