Possible right shoulder

16 сент. 2019 г.

I have to focus on futures at the moment but this looks like a candidate for a right shoulder.

I had a small trade during the weekend where I scaled in at the head region and was able to scale out about half ad the 1543 neckline but then it came back and I was dumped the rest at break even.

Because BTC and this are choppy I only want to trade this if it gives a nice spike that I can fade. If it comes back to the head region will short again.

16 сент. 2019 г.

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Here's a setup I'm watching for, basically looking for it to test the bottom of the wick areas. 1st target gives about a 1.5 rrr and if it goes to the bottom of the recent daily range it could go a lot lower.

16 сент. 2019 г.

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Definitely in an area where I'm watching it for an entry

16 сент. 2019 г.

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This recent pullback is strong enough that I'm leaning on the idea of waiting for another complete head and shoulders type of choppy top. Planning to look for wicks to fade and then take most of the profit at the neckline. I do expect it's going to drop hard when it gets to the other end of the pitchfork but I'm going to be making trades that only make sense if I can get a good RRR where the target is only the neckline.

17 сент. 2019 г.

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Looks like there's also a gartley in the works although I don't have the ratios memorized to say how valid it is.