BTCUSD following the path. More upside to come
Hi everyone,
The 4h chart is unchanged during the weekend and 1h is showing sequence from 7,348.45 low still in progress as is the cycle from 7,026.90 low (29/05/2018 as the end of the correction from 9,948.98).
So next level to look for is convergence at 7,887.97-8,027.95 with possible extension to 8,254.52. At those level, RSI will tell me if we are in 3 or 5 waves from 7,026.90 low to determine the next step.
As for my position from 7,166, it is now risk free for hopefully a whooping profit. Position from 7,617.73 has stop below 7,026.90 with risk reduced but not zero and we are in the green.
I would not recommend long or short from current levels and if you are not in any position, I would wait to buy green -2- IF green -1- shows a motive 5 waves structure and targeting below 9,000 but too early to tell.
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 04/06/2018-10/06/2018, I propose NEOUSD
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.
The 4h chart is unchanged during the weekend and 1h is showing sequence from 7,348.45 low still in progress as is the cycle from 7,026.90 low (29/05/2018 as the end of the correction from 9,948.98).
So next level to look for is convergence at 7,887.97-8,027.95 with possible extension to 8,254.52. At those level, RSI will tell me if we are in 3 or 5 waves from 7,026.90 low to determine the next step.
As for my position from 7,166, it is now risk free for hopefully a whooping profit. Position from 7,617.73 has stop below 7,026.90 with risk reduced but not zero and we are in the green.
I would not recommend long or short from current levels and if you are not in any position, I would wait to buy green -2- IF green -1- shows a motive 5 waves structure and targeting below 9,000 but too early to tell.
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 04/06/2018-10/06/2018, I propose NEOUSD
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.
Handel aktiv:
Target from 7,166
Kommentera:
pullback lower in 5min but I'll push the count further
Still don't like to buy here
Still don't like to buy here
Kommentera:
BTCUSD or "mon nom est désir!"
Until it's not denied, well, it is not denied! But alternate plans are ready already …
So next level to look for is convergence at 7,932.58-8,081.53 with possible extension to 8,308.10. At those level, RSI will tell me if we are in 3 or 5 waves from 7,026.90 low to determine the next step.