NEOUSD 1H ASIA UPDATE - 06/06/2018
Great structure here from 02/06/2018 high that I never call before it is confirmed because it is counter-intuitive (but always in mind because it is damn frequent those days in crypto).
Previous count was motive 5 waves from 47.45 low and we end up with a motive 5 waves to the downside from 58.31 high, making it a corrective structure from the lows and perspective changes altogether.
This reflects, in my opinion, the nervosity of "small players" with acceleration in shorter time frame bit no follow through so far. So 1h does not provide setup anymore and I will prefer to step aside for now and wait for a bullish sequence in the 1h and buying the pullback with large stop. When we get there, will update the signal alert chatroom.
The sequence from 58.31 high ended a cycle from 02/06/2018 high as a FLAT (irregular 3-3-5 or bull trap) and price bounced from 51.66 low.
Invalidation to the upside shorter term is 51.66 but true level is 47.45
As a general comment across the board, smaller time frame (15min-5min) tends to overshoot equal leg area so I would not recommend to apply my approach to those time frames. Even the 1h is tricky. Crypto market is tense right now because there are still too many longs (sentiment) and
please ignore all the nonsense from the news where every "people" (I totally respect their entrepreneurship and talent) is coming out to give their guess on bitcoin and all: this is totally irrelevant to the price in medium term (it only serve to agitate the "small players" to better rinse them … )
Since Feb 2018, I'm up in my capital by a comfortable double digit percent by only buying longs on cryptos and selling those longs in what you'll reckon is not really a bull market.
Trade safe, place your stops and respect yourself by respecting them.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full 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 04/06/2018-10/06/2018, I propose NEOUSD
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.
Great structure here from 02/06/2018 high that I never call before it is confirmed because it is counter-intuitive (but always in mind because it is damn frequent those days in crypto).
Previous count was motive 5 waves from 47.45 low and we end up with a motive 5 waves to the downside from 58.31 high, making it a corrective structure from the lows and perspective changes altogether.
This reflects, in my opinion, the nervosity of "small players" with acceleration in shorter time frame bit no follow through so far. So 1h does not provide setup anymore and I will prefer to step aside for now and wait for a bullish sequence in the 1h and buying the pullback with large stop. When we get there, will update the signal alert chatroom.
The sequence from 58.31 high ended a cycle from 02/06/2018 high as a FLAT (irregular 3-3-5 or bull trap) and price bounced from 51.66 low.
Invalidation to the upside shorter term is 51.66 but true level is 47.45
As a general comment across the board, smaller time frame (15min-5min) tends to overshoot equal leg area so I would not recommend to apply my approach to those time frames. Even the 1h is tricky. Crypto market is tense right now because there are still too many longs (sentiment) and
please ignore all the nonsense from the news where every "people" (I totally respect their entrepreneurship and talent) is coming out to give their guess on bitcoin and all: this is totally irrelevant to the price in medium term (it only serve to agitate the "small players" to better rinse them … )
Since Feb 2018, I'm up in my capital by a comfortable double digit percent by only buying longs on cryptos and selling those longs in what you'll reckon is not really a bull market.
Trade safe, place your stops and respect yourself by respecting them.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full 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 04/06/2018-10/06/2018, I propose NEOUSD
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.
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