VERGE - 4hr Timeframe - Update on Buy and Sell Opportunities
Following our previous daily timeframe overview (www.tradingview.com/...-Timeframe-Overview/), we can clearly understand that Verge has completed a major running flat type correction and is heading to the downside, on the daily timeframe. In the 4hr chart, it seems that BITTREX:XVGUSD is now in the process of making a smaller degree flat type correction.
The "c" leg movement to the upside, which has already commenced, can be a nice buy opportunity, but for us it seems too short lived and not with such a great R/R ratio. The movement to the downside which will follow once the abc is completed, seems instead like a great short opportunity not to miss, with a target in the area of the previous lows and lower. Updates on this and smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
The "c" leg movement to the upside, which has already commenced, can be a nice buy opportunity, but for us it seems too short lived and not with such a great R/R ratio. The movement to the downside which will follow once the abc is completed, seems instead like a great short opportunity not to miss, with a target in the area of the previous lows and lower. Updates on this and smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.