CRYPTO of the week: ZRXBTC 1h update First shot at it?
ZRXBTC 1H ASIA UPDATE - 26/04/2018
The sequence from 12,452 high ended at 10,629 in the form of a motive 5 waves calling for another low (FLAT option always remain on the table) and bounce happened as a FLAT to 11,982 where started the second leg of the cycle from the highs. Equal leg area projects 10,159-9,729, with possible extension at 9,032, where buyers should appear for at least a corrective 3 waves to the upside. Aggressive traders would take a shot in 15min time frame and protect their position when we reach 50% of the cycle from 12,452 high. Don't chase here and do not open the stop. If you stopped out , move on and buy lower at the equal leg.
However, be aware that equal leg area is a bit shallow to correct the all cycle from 4,922 low and I expect a double correction in coming sessions.
I don't like to sell here and would prefer to join buyers lower, either at purple 1 or blue 1 as per the 4h chart.
Invalidation level to the upside comes at 4,922
Invalidation level to the downside comes at 12,452
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.
The sequence from 12,452 high ended at 10,629 in the form of a motive 5 waves calling for another low (FLAT option always remain on the table) and bounce happened as a FLAT to 11,982 where started the second leg of the cycle from the highs. Equal leg area projects 10,159-9,729, with possible extension at 9,032, where buyers should appear for at least a corrective 3 waves to the upside. Aggressive traders would take a shot in 15min time frame and protect their position when we reach 50% of the cycle from 12,452 high. Don't chase here and do not open the stop. If you stopped out , move on and buy lower at the equal leg.
However, be aware that equal leg area is a bit shallow to correct the all cycle from 4,922 low and I expect a double correction in coming sessions.
I don't like to sell here and would prefer to join buyers lower, either at purple 1 or blue 1 as per the 4h chart.
Invalidation level to the upside comes at 4,922
Invalidation level to the downside comes at 12,452
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.
Kommentera:
for testing purposes
Kommentera:
Please ignore previous image
just discovered I can add images in the comment :-). Will ease the process
So, we understand why I said not to sell here. So here is the FLAT (bear trap). Should see marginal new highs but sequence from 10,507 is now already mature.
just discovered I can add images in the comment :-). Will ease the process
So, we understand why I said not to sell here. So here is the FLAT (bear trap). Should see marginal new highs but sequence from 10,507 is now already mature.
