So I realized this afternoon why my trend lines were not working out nicely and why the 200 MA was being crowded on the 30 MIN chart I posted this morning and the reason is that as you can see by comparing the two wave complexes, that the candles and wave structures are becoming bigger and so the easy solution was to switch to the 45 min chart to track the bullish continuation 200 MA and presto bingo now it makes perfect sense. So the down side is a little bit longer to make the bullish break out but still seems to fall within the next 24 hours. It does seem like BTCUSD moving down is having an effect on the formation of this last consolidation wave but I don't expect that the damage will prevent the breakout... anyway let me know your opinions. Thanks.
Should we close some of our positions and reenter the market at a lower price..assuming it may go lower
graham.edwards84
⋅
@imkeshav, I would only exit if the 200 MA on the 45 minute chart fails, but that's just me... it's your call, I know it looks weak here but it sometimes looks the worst just before it looks the best. If it breaks through the 200 then yes we have a serious breakdown and will need to react. IMO.
imkeshav
⋅
@graham.edwards84, How do I see the 200 MA in your chart. Thanks
imkeshav
⋅
@imkeshav, got it. It's the pink line and at 575+. right?
graham.edwards84
⋅
@imkeshav, yes exactly and if you look at the information at the top left of the chart it indicates what averages are being used.
imkeshav
⋅
@graham.edwards84, Thanks that helped a lot. I sold 20% at 590/592 and then saw there was an slight uptrend and re-bought at $593. Talk about shaky hands :)