ETHUSD 4H UPDATE - 06/05/2018 Alternate view came into play during last trading week and we saw a new high in price but not in RSI as suggested. This means that preferred view is cycle from 358.40 ended at 830.00 and that while below that level ETHUSD should see a correction. Depth of this one is to be evaluate. I don't like to sell, but would prefer to position...
ETHUSD DAILY UPDATE - 06/05/2018 A cycle ended at 1,420.00 high and correction is called ended at 358.40 that I will use a soft support until we break above 1,420.00 to open the door to 1,776.78-2,111.52 with possible extension to 2,653.35 or beyond. Shorter term, from 358.40, there is a RSI divergence and if breaking lower, the move from the lows would be in a...
Yellow box and lower with RSI divergence in place, motive 5 waves to the upside from 6,427.16 and then green 2 is a buy. Otherwise BTCUSD is escaping. If it happens, will buy any corrective 3 waves pullback. There was no way to catch alt 2 green in 1h. So, if I did it would have been in 15min intra-day but I'm a swing trader... As a reminder, BTC should continue...
Following related ideas and great comment from a follower, Purpose of this chart is to find entry to buy Either way, BTCUSD is bullish but question is can I buy now in a 4h setup with 1h execution. My answer is no, I mean if you trade. If you invest, that is a different story, but here I am a full-time trader because this is my day job. Of course I do invest...
I don't like to sell here but preferred view is more downside to respect the motive 5 waves from 1,574.37 high. From 1,242.02 low, a sequence has ended at 1,537.22 that could also be ending the cycle from 1,225.55 low and new cycle started to the downside. A break of 1,754.37 would negate the current view and would need to be reassessed. Apart from target in 4h...
As long as below 1,574.37 we should see another leg to the downside. From current levels, equal leg area is at 1,188.40-1,106.08. Beyond 972.83, situation would need to be reassessed as invalidation level to the upside is 599.49 (long way down). I don't like selling here because price can go higher (corrective cycle ended truncated at 01/05/2018 low, or we may...
In this video, I'm reviewing the structure from 1,574.37 and I present few options, not based on pure talk but based on the price structure. 1 more leg lower versus correction completed If you have comments, disagreements, please put your chart in the comments so we can discuss (and not just "you're wrong, we go to the moon" ;-)), I will be more than happy to...
No change in view. Bitcoincash bounced from 01/05/2018 low but still stalled below 1,574.37. The proposed view is to get a new low so I can buy red 2 but nothing says it will go there, this is why I don't like to sell (check the ZRXBTC count in previous ideas) here. Also in a triangle, remember that we have 5 legs and the exit is in the direction you entered the...
bitcoincash is trapped between 1,574.37 and 1,255.55. The first sequence to the downside from 1,574.37 was a motive 5 waves so resolution should be to the downside for another leg. Meanwhile, I expect some choppiness through a wedge (flag). View unchanged. Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I...
ZRXBTC 4H UPDATE - 27/04/2018 Yesterday, we had a bear trap with a FLAT from 23/04/2018 high and therefore the blue 1 called ended prematurely as we are still in red 3 cycle. From there, we should be seeing 14,293-15,373 but cycle is mature and can end at any time. So I don't like to buy at those levels and I won't sell here or higher either. I'd rather wait to...
View unchanged. Bitcoin cash has been trading lower since last update. While below 1,574.37 I would like to see a break 1,225.55 soon to trigger a bearish sequence in lower time frame and complete the last leg to the downside. Will be watching the RSI trend line as well for an indication on the end of the cycle from 1,574.37 high. Set up to buy lower is still...
Sequence from 1,450.91 high is completed at 1,242.02 and bounce should see sellers around 1,351ish-1,404ish for the last leg to the downside. Beyond 1,405.00 count should be reassessed but as long as below 1,487.65 we should see lower. 1,225.55 will be watched today for a break to the downside and confirm the current view. I don't like to sell here and will...
When I keep repeating there is other crypto than BTC and ETH ... NEOUSD 48.80 went long on 4h initial stop 29.00 has been raised to entry for a free ride. In 1h, took shot at 78.00 as red 2 in place after a first motive 5 waves from the lows. Will see how this pans outs. Every week, for one particular cryptocurrency, in addition to the charts that I upload...
Bitcoin cash broke 29/04/2018 low and therefore ended a cycle from 1,225.55 low. Now, having reached equal leg area, we can have either a bounce from here to completed red -1- (not preferred view) or as per chart, we go beyond 1,263.78 to complete red -3-. 1,225.55 is soft support and a break would open 4h chart equal leg area for execution of the setup. For now,...
Bitcoin cash is trading lower and view is unchanged. I need to see a break of 1,225.55 low from current level to add conviction to the view and equal leg area will be 1,145.67-934.33 where buyers should appear. This area is also at confluence with 50%-61% retracement of red -1- cycle. I still don't like to sell here and prefer longs from lower. Invalidation to...
ZRXBTC 1H ASIA UPDATE - 26/04/2018 The sequence from 12,452 high ended at 10,629 in the form of a motive 5 waves calling for another low (FLAT option always remain on the table) and bounce happened as a FLAT to 11,982 where started the second leg of the cycle from the highs. Equal leg area projects 10,159-9,729, with possible extension at 9,032, where buyers...
ZRXBTC 4H UPDATE - 26/04/2018 The cycle from 4,922 low is called ended at 12,452 as a motive 5 waves , therefore calling for another motive 5 waves to the upside once correction is completed. So, for now, as long as below 12,452 , I expect a pullback in the form of a corrective 3 waves where buyers will appear. Level of interest while waiting for more data to...
ZRXBTC 1H EUROPE UPDATE - 25/04/2018 I just love it when it happens. You change the count and next thing you know you are back at the previous count! And that is okay, nobody should be on the wrong side right now (I sold my longs at 10,920 on the way up few days ago). From current levels, if new low in 15min with RSI divergence, we have a motive 5 waves from the...