Looking at previous strong retracements on falling triangles, it is more often to hit the same support (low - $7500) once more if not lower. We are entering the weekend and most traders will get out of their positions (sell), so expect more down trend. This what happened last September 2017:
We will be bouncing up and down again but with more acceleration. Here is how I am playing it now:
1. Buy @ 7543 2. Sell @ 9345 3. Buy 50% @ 6443 4. Buy 50% @ 4776 OR as low as possible (BTFD)
Good luck trading!
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This is a follow up from my previous analysis:
Bought @ 7777.77 and sold @8987 soon after. I am in cash waiting for the next move up or down over the next week. Because of the weekend I am anticipating another trip to 7777. See you there
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Broke support 8K: Changing my buy target from 7543 to 6543
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- Entry Target is now 5678.91 - All in cash now as I expect we did not reach bottom
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We did not reach bottom as we are correcting to main channels drawn here. It will happen over the next 4 to 6 weeks - the will resume bullish uptrend.
Meantime keep scalping on the way down on 500 or more pips.
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Trading plan update: Previous trade: bought at 6262 and sold at 7240 - Now ALL IN CASH to trade over the next 5 weeks:
- Buy at 5252 - Sell at 6692 - Buy at 3727 - Hodl 70% then trade with 30% on the way up maintaining 50-50 cash-coin ratio