Every week, for one particular altcoin, in addition to the chart 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 15/04/2018-21/04/2018, I propose XMRUSD
XMRUSD 1H ASIA UPDATE - 19/04/2018
Monero started a new cycle from 188.15 low in the form of 3 sequences for now. Cycle from 07/04/2018 is already mature and can end anytime. The push to 239.12 is also in a 3 waves so I need to see a new high with RSI divergence to ensure that sequence from 215.99 low is a 5th wave (red -5-). Break below 215.99 low would signal the sequence from 188.15 is completed and therefore cycle from 07/04/2018 low as well and bears would have the upper hand again.
So, the plan is to wait for the cycle to end with RSI divergence to confirm motive 5 waves and the I will buy lower, OR be sidelined and see what the price is doing in coming session.
I would not sell monero here.
I remind that in a motive 5 waves there is no bullish/bearish sequence anymore after wave 3 is completed so when you want to buy the 4th wave there is no support except the extension Fib levels (not retracement) so I will never chase this one (the 5th is where smart money is already gone)
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.
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 15/04/2018-21/04/2018, I propose XMRUSD
XMRUSD 1H ASIA UPDATE - 19/04/2018
Monero started a new cycle from 188.15 low in the form of 3 sequences for now. Cycle from 07/04/2018 is already mature and can end anytime. The push to 239.12 is also in a 3 waves so I need to see a new high with RSI divergence to ensure that sequence from 215.99 low is a 5th wave (red -5-). Break below 215.99 low would signal the sequence from 188.15 is completed and therefore cycle from 07/04/2018 low as well and bears would have the upper hand again.
So, the plan is to wait for the cycle to end with RSI divergence to confirm motive 5 waves and the I will buy lower, OR be sidelined and see what the price is doing in coming session.
I would not sell monero here.
I remind that in a motive 5 waves there is no bullish/bearish sequence anymore after wave 3 is completed so when you want to buy the 4th wave there is no support except the extension Fib levels (not retracement) so I will never chase this one (the 5th is where smart money is already gone)
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.
