5th wave hunting
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5th wave hunting only for learning purposes.
Uwaga
now as wave 3 is 1,27% of wave 1, we look entry on retrace of wave 3. This will be invalidated when candle will be closed under 3340.Uwaga
Bearish candle on 30min charts and our hunting must be suspended.Uwaga
But i observe situation further.Uwaga
For me situation is inconvenient to hunt but i will observe situation of curiosity:)Uwaga
Bearish candles - 30min and 1h chartsUwaga
Uwaga
Ok now longs should be taken but with wide SL much under 3000.tradingview.com/x/cLXkis7n/[\image]
Uwaga
If wave 5th up will be build first target is area around 4000Uwaga
so wave 3rd minimum equal to wave 5th, but wave 5th may be also 1.5, 2 or more longer than 3rd, or 1st and 3rd combined if wave 3rd is only 127% of wave 1st. I know it's complicated;)Uwaga
Second TP area is higher and wider 4200-4500.Uwaga
Bullish candles engulfing 30min chart should give market more confidence in growth.Uwaga
4h chart bullish candle was retraced only around 40%, that is also good sign for longs.Uwaga
That's funny. The question what will be with longs, when Chinese traders will wake up. Huh, wave down is possible. So could only technical analysis in such circumctances help in trading? Everyone should answer for Yourself.Uwaga
But as this idea/analyze is only for learning, from my side all is fine. No nerves, and without any real long position taken i can go to sleep:) Maybe Japanese could build that wave up to 4000 or more? I will check this tommorow morning.Uwaga
If someone of You doesn't listen me yestarday that i write only ducational, and have taken position in this hunting, then should move SL to entry point:)Uwaga
Oh by the way, Chinese dumpers out of ammo, or chinese media FUD out of ammo too?:)Uwaga
Rising wedge here. Very bullish, but resistance 4000-4100 is near.
Uwaga
This potential wave 5th doesn't behave like wave 5th, this shape can be correction of wave 1 or A(corrective). So now half of position should be closed and the rest stay with SL in entry.Uwaga
Ok definitely Chinese have some stuff to dump or FUDsters publish their pamphlets;). My hunting for now is over. I will return to hunting, when i see on chart signs of another potential 5th wave.Uwaga
Huh now i seel potential of wave 5th in this move. Will be invalidated when 15min bar will close much above 3740. Of course short position. Only for learning!:)Uwaga
I see 3 possible targets for this wave: 3500, 3400 and 3200Uwaga
and fourth target (less realistic than three others but who knows) is around 3000Uwaga
Shorts here are justified by bearsh engulfing of 2 last candles @4h chartUwaga
Also in perspective of chart 4h we can catch wave that could go minimum to 3000-3100 area.Uwaga
In this case invalidation wil occure when area 3900-4100 will be broken.Uwaga
Next wider targets for this wave down may be 2600-2500 area (for now less possible), and 1900 (almost impossible, i say almost - i give now 0.01% chance to that length:))Uwaga
After market have hited 3512 (not 3500, sometimes few dollars are lacking) SL should go to entry point. But this can close also potentialy good short position.Uwaga
So i expect now this to happen:Uwaga
This hunting must be over for now @ small timeframes. But for 4h chart if BTCUSD is under 4000 waves down are still possible.
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