Stoic-Trader

Stoic-Trader

After finishing the 5-wave uptrend for BLACK 1, the correction is going far (as with most altcoins). I am still considering we are inside BLACK 2, but we are currently in a bearish zone. A break of the green descending trendline below gray resistance, turns my bias NEUTRAL. Only above gray resistance we would be really bullish again.

Stoic-Trader

The pair's price action indicates there is still room to go on the recent downtrend. I expect a break of the January low, with the first target at 100% extension (158.937). My primary count considers we are still inside green III.

Stoic-Trader

Black Wave 4 seems to be over, with a bouce off purple support. We should see an uptrend from current levels for black 5 / gray 3. This could also be a triangle pattern, but the end result would be the same, an upside bias for Wave 5.

Stoic-Trader

I'm considering that the move up from last September was impulsive (blue 1-5), and the downtrend movement is corrective (blue WXY). This is valid as long as we stay above the pink line. There is still no indication of a reversal for a long trade trigger. Major resistance to be broken sits at 0.00004 (green zone).

Stoic-Trader

We have bearish divergence and a lower low, so blue C / black B could be finished. First target for black C is the 61.8% pullback around 2362.

Stoic-Trader

In the 4H Chart, we have an ending diagonal in the form of a descending wedge, with 3 swings to the downside (green I, III and IV). A break of the top trendline should take us to major resistance at 1.00.

Stoic-Trader

The impulsive downtrend hasn't given us 5 complete waves yet, so I'm expecting another bottom below 0.01785 (green III low). We could be forming an ending diagonal for green V / blue 5 inside the green descending channel.

Stoic-Trader

My primary count in the 4H chart considers we are finishing blue wave 4, which should lead us to new highs above 80.73. This count is valid as long as price stays above 71.38 (blue 1 high).

Stoic-Trader

In the 4H Chart, the pair is currently making a sideways correction of wave X, and we should target lower prices for wave Y. Green support level around 1.645 is an interesting target. Alternatively, wave X could still be in progress, and we would see upside grind before the drop. I consider the first scenario to have a higher probability.

Stoic-Trader

This is the primary count I'm looking at right now. Waves 1-2 are not the most beautiful out there, but valid nonetheless. We have a wave 4 respecting the wave 1 high, with some bullish RSI divergence. Looking good for trades with high risk/reward ratios.

Stoic-Trader

I am now considering GMX is making a more complex pattern, with multiple ABCs. It could be the initial wave of a leading diagonal, but at this moment it's just guesswork. In the shorter term, I'm waiting for a break of the descending wedge which could signal the end of black C. Bullish RSI divergence is already present, but without a higher high, it will just...

Stoic-Trader

In my primary count, I'm considering the correction from the December low (1 or A) to be over (2 or B), and the downtrend is back.

Stoic-Trader

This is the type of trade which I take without thinking twice. Bottom with bullish RSI divergence Higher high without divergence Impulsive pattern to the upside, corrective pattern to the downside Low risk, high reward You can enter half or 1/3 position here and wait and see, if the SL is hit, makes little impact.

Stoic-Trader

HOT is looking interesting for another leg up, with bullish RSI divergence on the lows, and no divergence on the higher high (1 or A). For long trades, I see an aggressive and a conservative stop loss level, depending on your trading style. Targets can be placed on resistance levels along the way, shown in yellow.

Stoic-Trader

1INCH is giving us an impulsive wave count which is valid as long as we stay above 0.3204 (wave 1 high). A break of the green descending trendline without invalidating the count, is a bullish trigger. First target for wave 5 is 0.6500.

Stoic-Trader

I have taken a long trade expecting a new leg up for this pair. Based on bullish RSI divergence on the recent low + impulsive wave (1 or A) + lack of divergence on the recent high. Targets, stop loss and partial profit targets are on the chart.

Stoic-Trader

The correction which began last October is currently in black wave B. My expectation is that the uptrend will continue in the next days. If there is a fake breakout above gray resistance, I believe we will have a good short opportunity.

Stoic-Trader Updated 

In the daily timeframe, WLD is printing an impulsive wave to the downside. My primary count considers we are in green IV of blue V. Therefore, I expect a new lower low under the red line (1.937), and then an upside movement initially targeting purple line resistance (2.791).