$BTCUSD 1H UPDATE - 08/07/2018
From 5,780.00 low, a first sequence ended at 6,365.34 high and the correction challenged the low (bitstamp is the only data feed provided to post a new low on 29/06/2018 so it is ignored) and bounced from there. RSI divergence from first degree is denied, so I pushed the count higher to be still in wave brown 3.
I don't like to buy current level as we have enough swings higher to see purple 2 wave starting from current levels. I will wait for this structure to end to buy purple 2 in a clear corrective structure (3 or 7 swings).
Invalidation to the upside is 5,780.00.
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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.
From 5,780.00 low, a first sequence ended at 6,365.34 high and the correction challenged the low (bitstamp is the only data feed provided to post a new low on 29/06/2018 so it is ignored) and bounced from there. RSI divergence from first degree is denied, so I pushed the count higher to be still in wave brown 3.
I don't like to buy current level as we have enough swings higher to see purple 2 wave starting from current levels. I will wait for this structure to end to buy purple 2 in a clear corrective structure (3 or 7 swings).
Invalidation to the upside is 5,780.00.
Reminder: Don't forget to like, comment or subscribe to the channel. It helps me a lot to continue to post content. Much appreciate it.
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.
Comment:
1H ASIA UPDATE - 10/07/2018
View and count unchanged. Very quiet except for this past hour. Don't like to take trade here as explained.
View and count unchanged. Very quiet except for this past hour. Don't like to take trade here as explained.
Comment:
1H EUROPE UPDATE - 10/07/2018
a sequence from purple 2 (retest of 5,780.00) has ended at 6,820.00 and we are now either in brown 4th OR we started to correct the all cycle and purple 1 is in place at 6,820.00 with a motive 5 waves to the upside.
Either way, I will position long on any clear corrective 3 waves as long as price stays above 5,780.00.
a sequence from purple 2 (retest of 5,780.00) has ended at 6,820.00 and we are now either in brown 4th OR we started to correct the all cycle and purple 1 is in place at 6,820.00 with a motive 5 waves to the upside.
Either way, I will position long on any clear corrective 3 waves as long as price stays above 5,780.00.
Comment:
1H EUROPE UPDATE - 11/07/2018
View unchanged
View unchanged
Comment:
1H ASIA UPDATE - 112/07/2018
Marginal new low cannot be ruled out but enough swings to the downside/
Marginal new low cannot be ruled out but enough swings to the downside/
Comment:
1H ASIA UPDATE - 13/07/2018
cycle from 5,780.00 is completed at 6,820.00. We have a very small window for price to hold above 5,780.00, so I won't be trading btcusd here. Ig 5,780.00 low fail to hold, then structure in 4h will be updated as discussed in youtube video
cycle from 5,780.00 is completed at 6,820.00. We have a very small window for price to hold above 5,780.00, so I won't be trading btcusd here. Ig 5,780.00 low fail to hold, then structure in 4h will be updated as discussed in youtube video
Comment:
1H ASIA UPDATE - 16/07/2018
The low held and the bounce is in progress, but as already equal leg area, bears may well take the opportunity. Price need to push higher and create some divergence in 4h in the RSI. Invalidation levels are in place for the upside and downside and market needs to make a move. I don't like to trade here and would like to see a break above 6,820 to give some opportunities. There are other assets for now.
The low held and the bounce is in progress, but as already equal leg area, bears may well take the opportunity. Price need to push higher and create some divergence in 4h in the RSI. Invalidation levels are in place for the upside and downside and market needs to make a move. I don't like to trade here and would like to see a break above 6,820 to give some opportunities. There are other assets for now.
Comment:
1H EUROPE UPDATE - 16/07/2018
Nesting to the upside with RSI divergence denied.
Nesting to the upside with RSI divergence denied.
Comment:
1H EUROPE UPDATE - 17/07/2018
View unchanged.
View unchanged.
Comment:
1H ASIA UPDATE - 18/07/2018
Things are getting really interesting here. RSI divergence has been erased in 1h means that bitcoin is nesting to the upside as move from 6,072.00 cannot be in a 3 waves now. Those phases are proven difficult to catch if we are not in from the low and there is no point in trying to chase (you end up holding a position in the middle of nowhere and can be going against you anytime - the other way round is of course possible but you don't want to gamble, right?
Things are getting really interesting here. RSI divergence has been erased in 1h means that bitcoin is nesting to the upside as move from 6,072.00 cannot be in a 3 waves now. Those phases are proven difficult to catch if we are not in from the low and there is no point in trying to chase (you end up holding a position in the middle of nowhere and can be going against you anytime - the other way round is of course possible but you don't want to gamble, right?
Comment:
1H EUROPE UPDATE - 18/07/2018
marginal new highs can happen even though we have enough swings in 1h and 15min. for now, price is following the path.
marginal new highs can happen even though we have enough swings in 1h and 15min. for now, price is following the path.
Comment:
1H EUROPE UPDATE - 19/07/2018
view unchanged. don't like to trade it here.
view unchanged. don't like to trade it here.
Comment:
CORRECTION
Ignore previous chart
Ignore previous chart
Comment:
1H ASIA UPDATE - 21/07/2018
bitcoin made a marginal new high as expected and we should now see a pullback. The depth of this pullback will tell us what degree we are in as explained in the 4h comments. From here or lower (need more data for levels), I anticipate another marginal new high before a deeper correction. Correlation with other altcoins is inverted for now. I don't like to buy those levels or lower for now and I don't like to sell either, so I'll stay on the sidelines
bitcoin made a marginal new high as expected and we should now see a pullback. The depth of this pullback will tell us what degree we are in as explained in the 4h comments. From here or lower (need more data for levels), I anticipate another marginal new high before a deeper correction. Correlation with other altcoins is inverted for now. I don't like to buy those levels or lower for now and I don't like to sell either, so I'll stay on the sidelines
View unchanged