CRYPTO of the week ETHUSD bullish but buying the right level.
ETHUSD DAILY UPDATE - 06/05/2018
A cycle ended at 1,420.00 high and correction is called ended at 358.40 that I will use a soft support until we break above 1,420.00 to open the door to 1,776.78-2,111.52 with possible extension to 2,653.35 or beyond.
Shorter term, from 358.40, there is a RSI divergence and if breaking lower, the move from the lows would be in a motive 5 waves, calling for another motive 5 waves. Depth of the correction will be dictated by lower time frame.
Invalidation level to the upside is 358.40
Invalidation to the downside is 1,420.00. 983.31 being soft resistance and if broken the to the upside would mean we have broken the sequence lower highs in the daily
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 06/05/2018-12/05/2018, I propose ETHUSD
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.
A cycle ended at 1,420.00 high and correction is called ended at 358.40 that I will use a soft support until we break above 1,420.00 to open the door to 1,776.78-2,111.52 with possible extension to 2,653.35 or beyond.
Shorter term, from 358.40, there is a RSI divergence and if breaking lower, the move from the lows would be in a motive 5 waves, calling for another motive 5 waves. Depth of the correction will be dictated by lower time frame.
Invalidation level to the upside is 358.40
Invalidation to the downside is 1,420.00. 983.31 being soft resistance and if broken the to the upside would mean we have broken the sequence lower highs in the daily
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 06/05/2018-12/05/2018, I propose ETHUSD
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.
Liknande idéer
