BTCUSD

Here we are going to show the difference between traders who just draw a triangle and then label a false break compared to understanding what an ABC correction is. To remain a valid ABC pattern we should have 3 or 5 legs down to 4.

(Daily chart)


or

 

This is how I'd analyze without ABC 123 abc nonsense.
Those ABC 123 abc nonsense seems to be from Elliot's / Idiot's.

 

The Bunny ears into the cats tail set up.Advanced stuff!

 

That pattern is largely how the infamous Justin F Larfs made most of his money.

 

Why do you have against learning? I have posted a chart with an explanation to where I think price is going. Why don't you post a chart of your own?

 

Excellent question.

I was a WORKAHOLIC reading tons of trading books.
After learning, we have to decontaminate our mind, and unlearn, and develop our own holy grail.
Decontamination will take many years.


You don't have to unlearn if you don't want to.
Also you don't have to listen to me.
Because it is your choice.


Anyway don't believe what I wrote.
Just do what you want to do.

I have no intention of changing your way of thinking.
Have a great day.

 

If price time series are the only input to your mental model you are going to get destroyed by robots like it's a Terminator movie.

 

Time is your greatest asset in trading, yet it's the first thing traders surrender by placing stops.