This is the BTCUSD Alert email sent to my subscribers a couple of days ago -
Part 1, September 2:
In the 1d 2$ box size HL chart:
https://www.tradingview.com/x/xF01GAgu/we had trend reversal projections (3O).
If we move back up at 234$ before the day closes (I think about 24.00 GMT TV closes the day)
this will be seen as a double top, where actually it is a TRIPLE top breakout.We are in a bear trend (thick red line) so we should always be very cautious in opening longs, but this will be a good signal to take IMO.
Resistance in the current X column (if we breakout before the Os projections get confirmed) are at 246-248 & after that 252-254. If we form a triple top breakout, resistance will be at 242-244 & 248-250.
Both these resistances are very strong because they come from double bottom breaks.
I suppose a good strategy would be to sell half at low 240s and other half at high 240s (about 242 and 248 respectively).
On the other hand, if we make another O at 224 (break 225) things will start looking really bad again. Last chance in this setup is 222$. At 220$ we are in very bearish mode and this confirms the 4$ box size chart reversal (details below).
'Bullish' support at 210-212.
Bullish is in quotes because we are in a bear trend and these bullish lines should be taken with great caution.
Medium term (4$ box HL):
The 4$ box HL is exactly on the 232$ resistance, a breakout is at 240$, first resistance 280$ (for a longer term view, in case some people want to hold).
https://www.tradingview.com/x/4tVHzNqj/If we reverse this will be at 220$ and the 204-208 bullish support is the least I expect to be tested (with a possible temporary stop at 210, as explained above).
To sum up the High/Low charts, 234+ is a good entry point with a take profit at about 245.
If we fail, first stop around 210, second around 205.
Lastly, a look at 1d 2$ CLOSE chart is always very helpful.
I have a 2$ box, as I think that 4$ 1d CLOSE is for more long term investors.
https://www.tradingview.com/x/ZgFafVbX/We are sitting on the 230 resistance, buy signal is if we close above 236, first major resistance 260. Support 212-214.
Before I leave you, P&F says we are bearish, so the wise think to do is short here with a stop if we break 235.
This alert was due to a possible hidden triple top breakout pattern that may form in the 2$ HL. Triple tops are very good signals, that's why I am sending this alert.After all, it may be the first good bull signal after the 315 top, that may lead to a new bull trend. It remains to be seen...Part 2, September 3:
The 3O reversal is now confirmed:
https://drive.google.com/file/d/0BwG_jPaq09uxRXBQNHdtZ3VreDFqS3A3M2tvYmlLUldsNmVr/view?usp=sharingSo we will either continue the descent or break the 228-232 resistance in a triple top breakout...You should only buy after 234 is hit!!!
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