This is high probability scenario for downside BTC price targets. Each horizontal line to full target of $1805 is a confirmation the draw is correct. The vertical line is also a time stop of August 3rd for the trade. I am posting this now so we can see how these targets are reached until August 3rd. There is a chance for over performance to the down side below $1805 USD on coinbase (gdax) exchange but new assessment will occur after August 3rd time stop to see how the trade performed.
Good to see more traders coming onto Steemit. I've followed along.
What are the lines and why does it say they're correct? I don't get it.
Check out my latest short term BTC/USD technicals.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I study Hunt Volatility Theory (themarketsniper.com) What you see on the chart is an inverted HVF pattern. The strongest impulse from bottom to top in the HVF setup creates the downside target. Likewise a regular HVF pattern would be an upside jump. We only trade continuation patterns. This pattern does not need to reach full target and it may not but on balance of probabilities it will more time than it doesn't. I have no idea if it will make target but the horizontal lines are confirmation along the way the pattern is good and will make target.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for the explanation and the link. I'll check it out.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit