tradedevil

tradedevil

FUD = opportunity. Now, more than ever is when you rely on technical analysis. Where are the fibs? Where's the support? Where are buyers likely to defend? Where are the Algos switching from long to short..? This is a good example; We've tagged the 100% alternate price projection (app). Or a-b = b-c. And, the 38.2 retracement. I'm a buyer of (half of my position)...

tradedevil Updated 

Fits like a glove. Yes, it's hard to take them when they're falling straight down. The question is; where is it likely to find support. Can I see structure to "support" the potential for that support to hold. Is there a clear exit point where I know I'm wrong and is there enough reward to warrant the risk. Behold Ethereum.

tradedevil Updated 

Short-term make or break down zone. If the WAVE-3 top is in, we're going down towards the median line and a 38.2-50% retracement. Approx $3,400 zone. If, as I suspect, we've got an unfinished wave-5 of WAVE-3 we've got one more push up towards $5,500. The next 24hrs likely to tell the tale. Note the mixed signals of divergence.

tradedevil

Here's the bullish scenario. If this pivot and range of $4,440 - 4477 holds as wave-4... then we can start the climb towards $5,400. If it breaks, we could go to $3,400 for a 50% of the entire impulse wave. There's a trade here that has a nice 4.5-to-1 risk-reward. I'm taking it as I find the structure in the 5th to be lacking. I don't think it finished. And I...

tradedevil

I'm as big a BTC bull as anyone but, this is a likely target for some profit taking. On a positive note, if this does start to pull back everything you're spreading against BTC can start to climb... Stay technical my friends...

tradedevil

Nice bottom forming at the support zone. This is good structure. The support has been tested a few times. Oscillator just turning up and volume is increasing... The channel that broke has been given a last kiss and "if" this goes, it is set to launch from here. This coin has high volatility so, keep your size appropriate. Stop below the support zone is a...

tradedevil

In the pocket for a long entry. Stop is close by with a break of the Wave-1 high and the 61.8. Two targets above for up to a 6.5-to-1 Risk-Reward. Nice low volume node on the profile and we just tagged the 50%. Good long term story. You can buy it right here. Go get some...

tradedevil Updated 

A Beautiful retracement setting up. I'll be looking to buy half my order at the 38.2 (0.00136237) if we get there and if given the opportunity to add the second half at the 50% that will be a gift in my view. Great Risk-Reward with a clear stop below the Wave-1 High (0.00123456). Two targets above for exits with a potential of 6.5 to 1. Limits in now...

tradedevil

The current count as I see it. Yes, it's a truncated 5th wave. I maintain this count due to the 5 wave structure of what I have currently labeled as the 5th wave of what I still think will be a larger degree Wave-1. Nice risk-reward here with 2 targets above. I'm a long term bull here so, I'll be looking to maintain a bullish position for the longer term. There...

tradedevil

Right on track with a deep 2nd Wave. Time to get some if you missed it at .22

tradedevil

Chart should speak for itself... At less than .25 cents, this is a no-brainer. Definitely one to buy and HODL... but if you want to be a technical purist... get out on a bar the "closes" below the Wave-1 high.

tradedevil

If you took the stop overnight, as I did... shake it off. That's trading. Here's the good news, the market now starts to reveal what's underneath. This count does fit better as the relationship in time between the wave 2 correction and the wave 4 are now more symmetrical. So, we can trade it with more confidence and look for opportunities to get aggressive on this...

tradedevil

It doesn't get any prettier or more straightforward than this trade coming down the track. It's easy to think it's too perfect; looks too easy. The market doesn' serve up softballs like this... Does it? So you have to ask yourself, If I don't take this, what do I take? What; you prefer more complicated trades? With less clear cut entry and exit. Risk reward?...

tradedevil

Given the perfect low on the Wave-4 this is a text book Elliott trade. Clear structure. Excellent risk reward. Very clear invalidation points. If the entry is filled at the 50% you've got a 7.5-to-1 risk reward. I like the stop just below the 78.6 around $272. But if that's too much risk for you... you can place a stop just below the 61.8 outside of the lower...

tradedevil

This is nice structure for a wave-2, of wave-5, of Wave-3. Got it? Good. Sure, this "could" be a false break out and we'd retrace back to the $34 hundreds but a look at the length and structure of the larger degree wave-2 compared to wave-4 suggests that the 5th wave of 3 is not complete yet. Easier to see than to write ;) A touch of the median line coincides...

tradedevil

I like this kind of entry as the market proves it right or wrong with very little risk. On the daily we've just tapped the 61.8 as we touched the up channel. That's enough for me right there. It's some sort of corrective chop on the 4 hour. I've labeled it but it really doesn't matter. What matters is how it resolves. The low risk and my longer term bias to be a...

tradedevil

Well, it was always going to come... a healthy impulsive wave needs the fourth. It's what you wait for to ride the 5. The modified Schiff median lines are, thus far, framing this impulse beautifully. The stronger the impulse the more likely to see the 4th wave retrace to the 38.2. But we also know that the algos will be buying with both barrels if we retrace the...

tradedevil

Technical trading just does not get any prettier than this... Note how the wave-3 of WAVE-3 hit and turned at the intersection of the 1.618 and the 100% of WAVE-1. A thing of beauty. That small pull back into wave-4 was your last entry into this impulse. Now we've hit and stalled at the 1.618 target of WAVE-3. "If" we start to retrace here, a pull back to the...