#1 – BITCOIN-USD SUN MAR 18 2018 @ 18 2018 @12 30 pm
# 2 – BITCOIN-USD SUN MAR 18 2018 @ 18 2018 @1 05 PM
#3 BITCOIN-USD MULTI TIME FRAME MON MAR 19 2018 @ 11 53 AM
IMAGE A – BITCOIN-USD 1 HR CHART MON MAR 19 2018 @ 2 45 PM ( CLICK CHART TO ENLARGE ) see video #3 for reference…
As I’ve been saying…My intent is to show you that Lcm works the same for any instrument because it is not based on any instrument. It is based on motion…
looking at the trend chart we can easily see that the 1hrminot trend is up, therefore, we are only considering long signals until the minor trend changes to down.
:Looking at the micro trend has turned down to give a short signal, however, the signal is against the trend and should be considered as initiating a counter trend pullback. Price is currently bouncing off 1hr major support and this is where we look for a green reversal candle to give us a buy signal in the direction of the current trend.
If there is no reversal signal there is no trade… If a bull reversal does occur the target is the next 1hr high above and the stop would go below the 1hr support level…
The daily trend is still down but setting up for a bull pivot signal if we close the day above the high of the last daily bar.
After a bull pivot there is often a pullback to test the pivot point… If you watched the video earlier today you know my analysis for the daily chart. The thing with the 1hr chart right now is that, If we close the day with a bull pivot on the daily I expect a pullback tomorrow to test the pivot point.
So, if you take a 1hr long it is important that you don’t try to stretch the take profit because of the expected pullback. Of course I can’t predict where price will close the day. If the daily does not close with a bull pivot that would change things because we are talking counter trend to the daily. A counter trend trade must show a momentum signal ( reversal ) before attempting a trade. If a move has no trend and no momentum it has nothing going for it…
IMAGE B – BITCOIN-USD 1 HR BUY SIGNAL MON MAR 19 2018 @ 4 13 PM ( CLICK CHART TO ENLARGE ) see video #3 & image A above for reference…
BITCOIN-USD 1 HR BUY SIGNAL TARGET HIT MON MAR 19 2018 @8 24 PM ( CLICK CHART TO ENLARGE ) see video #3 & image A & B above for reference…
