BTCUSD 1H EUROPE UPDATE - 16/05/2018 bitcoin failed to hold the lows from yesterday and triggered a bearish sequence in the 1h for a double correction. From current levels, we can go down with first sequence around 61.8%-76.8% extension of equal leg area before a short lived bounce and lower. The situation is not critical yet as the structure from the highs is...
I had to let go BCHUSD in previous cycle as it clearly truncated while I was waiting lower. However, this is the only crypto I did not jump in over the weekend as I don't like equal leg area overlapping with invalidation levels... However, believers would have jumped in at 100% extension and would be fine for now. Will keep an eye on this one and keep you...
BTCUSD 1H ASIA UPDATE - 16/05/2018 Chart is pretty self-explanatory. Yesterday, I was proposing 2 options, the fast and the slow. Well, we are for another round to challenge the low. 8,900.90 held yesterday and therefore price was rejected to the downside for a leading diagonal structure from 8,2018.81. As we have 3 waves for now from this low, danger is below...
BTCUSD 4H UPDATE - 15/05/2018 View unchanged from yesterday. Stop raised to below 8,208.81 (risk free position with partial profit or reduced risk). How to determine my position size when trading? The agreed rule is that the maximum risk per trade (or set of trades) is 2% of the capital. So if I have USD5,000.00 I will risk maximum USD100.00. So, if I bought...
BTCUSD 1H ASIA UPDATE - 15/05/2018 Bitcoin held 8,208.81 and as long as this level stands we should see a challenge of 9,393.00 and 9,948.98. Until those levels break, I expect choppiness. Preferred view is cycle from 8,208.81 is ended at 8,900.90 but this cycle can extend in a leading diagonal as well. So I am in position from 8,418.64, stop 8,205.00 and won't...
BTCUSD 1H EUROPE UPDATE - 14/05/2018 bitcoin bounced as expected at equal leg area. the bounce was short lived and the sequence to the downside took the form of a FLAT with challenge of 8,286.57. As long as this level holds, view unchanged. If it breaks lower from there, count will be adjusted to a double correction. As I'm already in a trade, I won't buy or sell...
BTCUSD 1H ASIA UPDATE - 14/05/2018 Bitcoin started a new cycle in 1h at 8,2018.81 low for at least a corrective 3 waves bounce. First sequence ended at 8,652.80 high corrected to 8,264.98 low to project 8,708.97-8,813.75 equal leg area that has already been reached. From there, we can see a pullback that would hold above 8,208.81 to challenge 9,393.00 or an...
BTCUSD 4H UPDATE - 14/05/2018 Confirmation of cycle ended from 9,939.69 high has come with break of RSI trendline, and now I need to see how the current cycle develops. Below 9,939.69 high, we still can see a double correction (not preferred view) that would hold above 6,427.16. As always, one step at a time. From current level, a break above 9,939.69 would open...
BTCUSD 1H ASIA UPDATE - 13/05/2018 Sequence from 9,393.00 high ended at 8,208.81 and while above this level, we should expect uptrend to resume. However, as long as below 9,393.00 and more importantly 9,948.98, there is a possibility for a larger correction of the cycle from 6,427.16 low. Short-term, I will be looking at a break above 8,652.80 to see...
Price has finally begun to slow after a parabolic run up that lasted close to a month. It has broken through bearish trend resistance and is now testing daily support. It would be great if price could stabilize around this level and test the 29 EMA before making a push to the upside. If price cannot hold the 92.5 level, the next level of support is found near...
Situation is getting clearer and nearer. Levels for this trade are set and now let the market do its thing. Now, I have been calling this for some time now. It is always nice to be right but it means nothing! What matters is that I was not on the wrong side of the market and buying the breakout above 25/04/2018. The correction is now a gift from the market. So...
I can't say I wished for it because I would have managed without it, but this last new low just erased RSI divergence and therefore, count is adjusted with motive 5 waves from the lows (4h time frame). Does not change I'm in and in the red for now but confident the bottom is there, or at least a bounce so that I can protect my position. So another opportunity...
View was denied on the related idea but direction was there. Count adjusted accordingly for either corrective waves or FLAT (preferred solution even though I always hate to call for a FLAT before its completion - difference will be either a corrective 3 waves from the highs or a motive 5 waves- I'm in already but would see a marginal new low before higher. Will...
ETHUSD 1H EUROPE UPDATE - 10/05/2018 759.90 high failed to hold during Asia and ethusd is now shifting focus higher above 775.11 to put pressure on 832.37. As long as below this level, we can see a new leg to the downside to complete the correction of the cycle from 358.40. A break above 832.37 from current level would create a bullish sequence in 4h and I would...
ETHUSD 4H UPDATE - 09/05/2018 View unchanged as long as below 832.37. Confluence zone below 600.00. If long is taken, I would advise caution below 547.98. Target will be adjusted on a break above 832.37 but at least 1,100ish would be in play. Invalidation level to the upside is 358.40. Every week, for one particular cryptocurrency, in addition to the charts...
ETHUSD 1H EUROPE UPDATE - 09/05/2018 First, longs from 707.63 should be risk free now (either take partial at 50% and stop below 691.99 or stop raised to entry level (and not stopped out yet - personally I always prefer the first option in the configuration but as I said before, I did not take the trade) So, the first sequence from 832.37 ended at 691.99 and this...
Ethusd is following the path and has now reached equal leg where first buyers should appear for at least a 3 waves bounce. If you buy, stop should be below 656.11 but remember that invalidation level to the upside is 358.40, so calculate your risk and do not open the stop. If stopped out, you can buy the next leg lower purple 2. I don't like to buy here neither to...
ETHUSD 1H ASIA UPDATE - 07/05/2018 Cycle from 01/05/2018 low is called completed at 832.37 as the 5th wave of a motive structure from 358.40 low. The sequence from 832.37 high has ended at 749.00 and bounce should reach 806.23-815.49 but stall below 832.37 for another leg to the downside. I don't like to sell as the 1h is bullish and I would only buy lower at...