IOTUSD 15min
Hey guys, the current downleg on smaller timeframes might be the last one within the corrective structure. Once price has hit the potential buy zone, I will look for logical signs that the corrective structure has come to an end.
If price will break out earlier, I will wait for further confirmation before buying.
Once confirmed, price might head north targeting:
1) $5.55-5.59 area (testing the old high)
2) $6.60-6.65
3) $8.00
Happy trading!
Hey guys, the current downleg on smaller timeframes might be the last one within the corrective structure. Once price has hit the potential buy zone, I will look for logical signs that the corrective structure has come to an end.
If price will break out earlier, I will wait for further confirmation before buying.
Once confirmed, price might head north targeting:
1) $5.55-5.59 area (testing the old high)
2) $6.60-6.65
3) $8.00
Happy trading!
Comment:
Second scenario might be confirmed soon. For now, it looks as if wave E has come to an end earlier and we see a break soon!
Second scenario might be confirmed soon. For now, it looks as if wave E has come to an end earlier and we see a break soon!
Comment:
BOOM! :D Back in the game!
Comment:
Retracing
Retracing
Comment:
Alright, so we saw more downside than expected. Nevertheless, I expect the forecasted upmove to happen. The structure still looks corrective and for now we might be either in a three wave or a five wave correction. If it turns out to be a three wave correction, we should see a break within the next hour.
If we're in a five wave correction, expect the first potential buy zone level, marked on the chart above (3.18-2.85) to be hit. Cheers
Alright, so we saw more downside than expected. Nevertheless, I expect the forecasted upmove to happen. The structure still looks corrective and for now we might be either in a three wave or a five wave correction. If it turns out to be a three wave correction, we should see a break within the next hour.
If we're in a five wave correction, expect the first potential buy zone level, marked on the chart above (3.18-2.85) to be hit. Cheers
Comment:
Just a small overview over the bigger picture. Typical 3 wave correction divided into five subwaves. Strong confluence at the buy zone marked on the chart above.
Comment:
Here is the alternate count. The picture seems to get clearer now. However, it's still unclear if we'll see a three wave or a five wave structure.
A clear & strong break outside the wedge will be therefore the only kind of confirmation.
If price will not break the wedge with the current upside leg on the 15min we might see price testing 3.05-2.85 area, as this is a heavy confluence area. The last option and last bastion is a completion of wave 5.
A clear & strong break outside the wedge will be therefore the only kind of confirmation.
If price will not break the wedge with the current upside leg on the 15min we might see price testing 3.05-2.85 area, as this is a heavy confluence area. The last option and last bastion is a completion of wave 5.
Comment:
Be careful guys, we might have just seen the end of wave B. Unfortunately we did not get a break above yesterday's daily close. Therefore, the current level we're sitting at is crucial for the PA of the next days. This thing might drop till 2.33-1.98 area at which it would complete wave C. From this price level, we can continue to ride the wave again. I'm out for now and - if price proves me wrong - I'll continue on buying on the next dips. Cheers
Be careful guys, we might have just seen the end of wave B. Unfortunately we did not get a break above yesterday's daily close. Therefore, the current level we're sitting at is crucial for the PA of the next days. This thing might drop till 2.33-1.98 area at which it would complete wave C. From this price level, we can continue to ride the wave again. I'm out for now and - if price proves me wrong - I'll continue on buying on the next dips. Cheers
However, if this will be the case - my plan is to wait for a retrace after the break.
No retrace - no entry, simple as that!