Actionable Trade-Alert
from Rick in the Trading Room
(Please check all related discussion in the room before you do any trades.)
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16:48 |
BTC – crashing after hours, may take out today’s earlier low. Looking for 71,500 to cash in my SBIT position. |
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17:00 |
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17:14 |
BTC could fall to as low as 62,080. The pattern is sausage-y, but I just got done explaining to Ncohrnt why p midpoint logic still works even in lousy patterns. In this case, I’ve compensated for its lousiness by using a one-off ‘A’. Also, the A-B impulse did exceed TWO ‘external’ lows without an upward correction, attesting to its power. Bottom-line: I would bottom-fish p2=71,051 gingerly, and also brace for more carnage down to 62,080, possibly with an intervening bounce. Here’s the chart: |
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17:15 |
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