I called black 2 completed at 06/02/2018 low as price was bouncing to 330.64 high in a 3 waves corrective move. I had bought at 181.20 on a daily, stop 117.45.
The dip to 256.18 saw me make my first buy in XMRUSD in 4h TF at 283.08 stop 250.00 (we got almost stopped out on 25/02/2018). The break above 17/02/2018 high was confirming the view for uptrend to resume but when price reached 382.50 in 3 waves it failed to gain momemtum and eventually it ended reversing to the downside. I got stopped out at break even. By then, my daily trade's stop was raised to 140.00 with risk free position (partial profit had been taken at 300.00 (50% retracement of wave blue 3).
At that time, structure could have been seen as a 3 waves to the 382.50 high (truncated at 61.8%-78.4%) but the structure to the downside made me prefer a FLAT from 17/02/2018 high. Since then there were no setup because the FLAT was extending in its 3rd leg and nobody could expect 2 cycles to end truncated (green 5 and red -5-) and I do not chase bottoms and stops.
A cycle from 382.50 high ended at 07/04/2018 low as RSI trend line was broken to the upside.
Now, the situation is as follow. As long as above 145.51, monero should see more upside but there is no setup yet. If we have a clear motive 5 wave to the upside (green 1), then, I will look at buying green 2 in a clear 3 waves pullback in 1h time frame (Only if motive 5 waves up, I repeat, because otherwise there is no bullish sequence and nothing says it cannot go below 145.51!).
Trades:
DAILY: Long 181.20 stop 140.00 Risk Free position (initial risk 2% at 117.45) Target 650.59-769.35
4H: Long 283.08 stop 250. Stopped out at break even (partial profit was taken at 335.70 to make risk free position - 100% extension of green 1)
1H: planning to buy green 2 on pullback after we see new high from current levels with RSI divergence to confirm the motive 5 waves up
The dip to 256.18 saw me make my first buy in XMRUSD in 4h TF at 283.08 stop 250.00 (we got almost stopped out on 25/02/2018). The break above 17/02/2018 high was confirming the view for uptrend to resume but when price reached 382.50 in 3 waves it failed to gain momemtum and eventually it ended reversing to the downside. I got stopped out at break even. By then, my daily trade's stop was raised to 140.00 with risk free position (partial profit had been taken at 300.00 (50% retracement of wave blue 3).
At that time, structure could have been seen as a 3 waves to the 382.50 high (truncated at 61.8%-78.4%) but the structure to the downside made me prefer a FLAT from 17/02/2018 high. Since then there were no setup because the FLAT was extending in its 3rd leg and nobody could expect 2 cycles to end truncated (green 5 and red -5-) and I do not chase bottoms and stops.
A cycle from 382.50 high ended at 07/04/2018 low as RSI trend line was broken to the upside.
Now, the situation is as follow. As long as above 145.51, monero should see more upside but there is no setup yet. If we have a clear motive 5 wave to the upside (green 1), then, I will look at buying green 2 in a clear 3 waves pullback in 1h time frame (Only if motive 5 waves up, I repeat, because otherwise there is no bullish sequence and nothing says it cannot go below 145.51!).
Trades:
DAILY: Long 181.20 stop 140.00 Risk Free position (initial risk 2% at 117.45) Target 650.59-769.35
4H: Long 283.08 stop 250. Stopped out at break even (partial profit was taken at 335.70 to make risk free position - 100% extension of green 1)
1H: planning to buy green 2 on pullback after we see new high from current levels with RSI divergence to confirm the motive 5 waves up
