ETHUSD correction is not done yet - the power of the 5 waves
Sequence from 595.00 ended in corrective 3 waves to the upside that failed below 710.95 as expected. As long as the 710.95 high holds, we should see one more sequence lower to 568.30-496.18 where buyers should appear.
As the move from the lows in 4h is only a corrective 3 waves, I would stay on the sideline. Better setup in xmrusd and zrxbtc for what is posted on TradingView
Invalidation level to the upside is 358.40/
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 22/04/2018-28/04/2018, I propose ZRXBTC
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
As the move from the lows in 4h is only a corrective 3 waves, I would stay on the sideline. Better setup in xmrusd and zrxbtc for what is posted on TradingView
Invalidation level to the upside is 358.40/
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 22/04/2018-28/04/2018, I propose ZRXBTC
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Comment:
Count changed and Levels adjusted but view is the same.
"Sequence from 595.00 ended in corrective 3 waves to the upside that failed below 710.95 as expected. As long as the 710.95 high holds, we should see one more sequence lower to 568.30-496.18 where buyers should appear. "
"Sequence from 595.00 ended in corrective 3 waves to the upside that failed below 710.95 as expected. As long as the 710.95 high holds, we should see one more sequence lower to 568.30-496.18 where buyers should appear. "
Order cancelled:
View has changed with break to new highs.
Should not be surprised or taken on the wrong side as did not like to sell as mentioned in ideas.
Also, to clarify, it's not because I indicate a move to the downside that is means that I'm selling there. It is just that IF it goes lower, then we can take action and it does not mean "sell here". This is a preferred path to propose setup in 1h.
Now, if 5th is confirmed to the upside from the lows in 4h, then I will position to buy lower, IF it reaches area. ;-)
Should not be surprised or taken on the wrong side as did not like to sell as mentioned in ideas.
Also, to clarify, it's not because I indicate a move to the downside that is means that I'm selling there. It is just that IF it goes lower, then we can take action and it does not mean "sell here". This is a preferred path to propose setup in 1h.
Now, if 5th is confirmed to the upside from the lows in 4h, then I will position to buy lower, IF it reaches area. ;-)
Comment:
And that can always happen. The RSI divergence was actually the start of the bounce in a FLAT (bear trap here)
But as long as 710.95 holds, expect lower