My view BTCUSD On D1: - Structure: Downtrend - Present: Side, the price moves in range ! - SHS pattern forming? - Above support W1 and below resistance D1. H4: - Tendency: Downward - Test pivot range ( Double top and bottom)
הערה
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The price broken resistance
הערה
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The price broken resistance--> SHS pattern forming !
draw three scenarios. When one unfolds, say ''told you so!'' ... lame
DatTong
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@Lain33, at first I thought I would spend time to explain more, but then I just know it's such a waste of time, so just ignore from here, thanks.
Fovillain
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Thanks for the insight into your strategy.
I wonder if you agree that there seems to be an ascending triangle forming in h4? Double top twice seems to form a straight resistance with double bottoms indicate a support line trending upwards.
If this were the case would you adjust your pivot range?
Thanks
DatTong
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@Fovillain, Yeah it would be anything based on what we want to see. It could be ABCDE forming in Elliot wave in a bigger B wave of a complex correction ABC as well. I would se a lot of pattern if I would like to draw. But as we see, all the patterns are make-or-break situation. So if we identify it's a breakout for failed breakout, it's more meaningful than the pattern itself.