BITCOIN: Following the Trading Channel on a 5-3-5

December 05 20:29 2018 Print This Article

I am keeping my strategy of trading BITCOIN while following what it seems a consistent 5-3-5 Zig Zag Structure  which I posted a few days ago, first on November 30th “BITCOIN: 5 Waves down”  and yesterday in this post, “BITCOIN:5-3-5 on going”.

 

The true is that, if you manage to identify some trendlines and assign some TA rules, trading becomes easier and more certain which does not mean SURE at all…

Anyway, since November 30th I have been following a buy and sell actions just by following the 5-waves in red which I draw… Why?

Well, because after watching the previous 5-waves down and then what I identified as 3-waves up, so (a)+(b)+(c), the most common is to expect 5-waves down again in order to conclude the “cycle”, rememeber that I bet for a 5-3-5 scheme.

So I bought some close to (i) then I sold it close to (ii), then I bought again at (3) and sold it close to (4)…

 

For the moment, I get more than 20% of my “initial” investment doing that way…

Currently we are at (5), so, all my stake earned during these last movements has been invested again, because I expect a last move upwards (iv) before the last drop, which, as I said, I am setting as a possible “ground” for the 5th wave (v)  landing the same depth as the height of the (a)(b)(c) (B) formation…2927 USD but it may reach lower, perhaps 2800 USD in case it becomes to be an “extended 5th”…

As you see, also in a BEARISH market, you can also enjoy of the opportunities… just by “reading” the trend and applying some basic guidelines…

Take care and enjoy.

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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Too Fast Eddie
Too Fast Eddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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