Been away for 2 days after General Election in Malaysia! A bit slow with the updates ... Sorry about that.
This morning, posted on youtube (live stream free content), and here are the updated comments:
ETHUSD UPDATE - 11/05/2018
4H
View unchanged
1H
ETHUSD is trapped between 775.11 and 691.99 and while BTCUSD made a new low triggering a bearish sequence in shorter time frame, ETHUSD is holding. However, as long as below 775.11, a new low is possible to 650ish.
Preferred view is triangle from 775.11 with resolution to the downside. I don't like to sell here of higher at green 5 because we already had a corrective 3 waves from 832.37 and correction can be done. I will prefer to position longs lower at equal leg area if reached. Levels will be updated when triangle is resolved.
Invalidation level to the upside is 358.40 bit would exit any long below 540.00 (to be refined later)
Invalidation level to the downside is 832.37
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.
This morning, posted on youtube (live stream free content), and here are the updated comments:
ETHUSD UPDATE - 11/05/2018
4H
View unchanged
1H
ETHUSD is trapped between 775.11 and 691.99 and while BTCUSD made a new low triggering a bearish sequence in shorter time frame, ETHUSD is holding. However, as long as below 775.11, a new low is possible to 650ish.
Preferred view is triangle from 775.11 with resolution to the downside. I don't like to sell here of higher at green 5 because we already had a corrective 3 waves from 832.37 and correction can be done. I will prefer to position longs lower at equal leg area if reached. Levels will be updated when triangle is resolved.
Invalidation level to the upside is 358.40 bit would exit any long below 540.00 (to be refined later)
Invalidation level to the downside is 832.37
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.
Note
well, maybe faster than expected. triangle view denied, back to original count.634.73 in play.
Let's see
Trade active
Price did not reach the equal leg area (missed by few usd) but I got in at 660.00 on the 5th wave completing the zigzag. (was timing with BTCUSD reaching its equal leg as I know that ethusd was a bit more punchy for past sessions)Note
Risk free position from 660.00. Target 1,108.56-1,219.57.Not too shabby ...
Note
pressure on crypto in Asia. a cycle ended from the lows. Still got room, stop below last low 638.15 and risk free position.Trade closed: stop reached
stopped out at 650 for 0 loss (still annoying though)ETHUSD going for double correction. Hopefully, when I'll be back at desk 01/06/2018, can catch it ...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.