BTCUSD not in the money just yet, but hopefully soon.
Updated
Hi everyone,
Still away from the desk but not from cryptos (wonderful job that is trader!). Ok, no blabla but facts.
We reached equal leg area at 7,166.59 (I started to buy 7,617.73 in 1h) and price bounced like it did at 8,424.42 (got stopped out break even back then), so now what?
Well, in 1h we have a bullish sequence (refer to the Education Idea for more on that), so I'm expecting minimum 7,805.99-7,931.57 but probably higher. The nature of the structure to this level will give different guaranties on what is next.
Either motive 5 waves and we will see another leg to 9000ish and it is only if we challenge and break 9,948.98 that the bullish sequence will be in the 4h to reach 10,540.66-11,369.91 to directly put pressure on 11,780.00.
(But remember that 3 waves up from the lows is alright for a 1 of 5 or A ... Don't be obsessed with 5 waves, just saying)
But until this is done, we need to be aware of alternate path. Motive 5 waves in 15min or 1h is nice but can end as a corrective structure in higher degree (dotted lines). So, I am sound at 7,617.73 and 7,166.59 stops below 7,026.90 now.
So, to make it simple, I got in because of the 5 waves up from 6,427.16 but the 4h is NOT bullish 9 because no bullish sequence just yet. So, if you are not in from 7,166, think twice at your risk management and stop before jumping in at current levels...
Next opportunities in 1h will be red -2- IF motive 5 waves up, otherwise break of 9,948.98 (don't buy break out with stop 200 usd below the break for swing trade, please, for reason I explain the Education Idea on BTCUSD) and wait to the correction to develop. I would not sell short unless we break 5,920.72 and even, I think that it would not be worth it. I don't sell crypto (for swing trades) but that is just me.
Trade safe
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 28/05/2018-02/06/2018, No chart exceptionally
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.
Still away from the desk but not from cryptos (wonderful job that is trader!). Ok, no blabla but facts.
We reached equal leg area at 7,166.59 (I started to buy 7,617.73 in 1h) and price bounced like it did at 8,424.42 (got stopped out break even back then), so now what?
Well, in 1h we have a bullish sequence (refer to the Education Idea for more on that), so I'm expecting minimum 7,805.99-7,931.57 but probably higher. The nature of the structure to this level will give different guaranties on what is next.
Either motive 5 waves and we will see another leg to 9000ish and it is only if we challenge and break 9,948.98 that the bullish sequence will be in the 4h to reach 10,540.66-11,369.91 to directly put pressure on 11,780.00.
(But remember that 3 waves up from the lows is alright for a 1 of 5 or A ... Don't be obsessed with 5 waves, just saying)
But until this is done, we need to be aware of alternate path. Motive 5 waves in 15min or 1h is nice but can end as a corrective structure in higher degree (dotted lines). So, I am sound at 7,617.73 and 7,166.59 stops below 7,026.90 now.
So, to make it simple, I got in because of the 5 waves up from 6,427.16 but the 4h is NOT bullish 9 because no bullish sequence just yet. So, if you are not in from 7,166, think twice at your risk management and stop before jumping in at current levels...
Next opportunities in 1h will be red -2- IF motive 5 waves up, otherwise break of 9,948.98 (don't buy break out with stop 200 usd below the break for swing trade, please, for reason I explain the Education Idea on BTCUSD) and wait to the correction to develop. I would not sell short unless we break 5,920.72 and even, I think that it would not be worth it. I don't sell crypto (for swing trades) but that is just me.
Trade safe
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 28/05/2018-02/06/2018, No chart exceptionally
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.
Trade closed: stop reached
1 position stopped out break even, 1 position stopped out 1% lossI will be away from desk for 10 days until 20/06/2018, so no update until then.
Later today, will post a video on youtube to access the damage across the board.
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