BTCUSD 4H chart - Shoud we jump in now? Should we sell?
Well, another option is to keep cool and if we are not in a trade to ride this one, that is okay! Trading is watching and analyzing most of the time (at least for me).
Now, I'm not in any trade other than my 2 daily positions from 8,750 and 6,750 so I'm very happy with BTCUSD. The faster we take out resistances the better. So, I'm not in a trade in the 4h or 1h and I feel great, I made some pretty good return from the lows as the plan was executed properly and that's it. I wanted to buy lower again, did not happen, but will happen eventually (and there are other pairs than BTCUSD by the way).
Now, my charts were showing pullback expected for some time now, but price kept going higher. And today a key element is in play with RSI divergence being erased.
So I won't be stubborn and I will amend the count, which now may not be so appealing because we are not in a motive 5 waves anymore as we are in a 3rd waves that we all know is ABC as a regular FLAT (3-3-5) and if we have a 4th wave will become a 5 waves. So next move in BTCUSD will be very important and I'm really excited about it!
So, while I wanted this week to be when I buy lower from 9,200, I have the sentiment that it will be watching price to get ready for what is coming next but not selling for sure, neither buying wrong levels.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the 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 22/04/2018-28/04/2018, I propose ZRXBTC
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.
Now, I'm not in any trade other than my 2 daily positions from 8,750 and 6,750 so I'm very happy with BTCUSD. The faster we take out resistances the better. So, I'm not in a trade in the 4h or 1h and I feel great, I made some pretty good return from the lows as the plan was executed properly and that's it. I wanted to buy lower again, did not happen, but will happen eventually (and there are other pairs than BTCUSD by the way).
Now, my charts were showing pullback expected for some time now, but price kept going higher. And today a key element is in play with RSI divergence being erased.
So I won't be stubborn and I will amend the count, which now may not be so appealing because we are not in a motive 5 waves anymore as we are in a 3rd waves that we all know is ABC as a regular FLAT (3-3-5) and if we have a 4th wave will become a 5 waves. So next move in BTCUSD will be very important and I'm really excited about it!
So, while I wanted this week to be when I buy lower from 9,200, I have the sentiment that it will be watching price to get ready for what is coming next but not selling for sure, neither buying wrong levels.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the 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 22/04/2018-28/04/2018, I propose ZRXBTC
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.
Reminder: there is no obligation for red -4- to happen. So if you buy, do not open the stop. For now 3 waves up from the low, which is all but bullish. Won't sell either. Sometimes it is better to stay sidelined. ZRXBTC and XRMUSD that I posted are better tradable opportunities.