In addition to the elliot count short setup posted previously I'm going to be scaling into a short on btc using the 34 ema indicators often used by Raghee Horner.
The basic idea is to short into touches of the 34 ema of the day lows with a stop a bit above at the 34 ema of the day highs.
The darvas box shows that price is forming a poor low which is likely to be retested and after a few strikes on the propulsion dot area it is likely to break lower and make a measured move to the $2 to $1k region.
The basic idea is to short into touches of the 34 ema of the day lows with a stop a bit above at the 34 ema of the day highs.
The darvas box shows that price is forming a poor low which is likely to be retested and after a few strikes on the propulsion dot area it is likely to break lower and make a measured move to the $2 to $1k region.
Nota
Edit: "poor low" was not the exactly the right term to use there. However I interpret the darvas box low to represent an unfinished auction that will be revisited because of interest in exploring lower prices.There is not a very sharp rejection wick at the bottom, there is a relatively large amount of volume at lower prices which will attract sellers there again and cause buyers to capitulate when it starts to threaten sub 3k prices.
Trade chiuso manualmente
Bullish now
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