tradedevil

tradedevil

So far, this is just a healthy, text book a-b-c correction. Nothing more, nothing less. Did you get some stops hit this week? Most did. I did. That's trading. Suck it up, move on, next setup. Keep the stops at logical points and always looks for a good risk reward ratio. Just trading 101.

tradedevil

This could get ugly before it's done retracing. If it's going to do the Full Money we're headed back to $17.50. Last stand for support is 21.50 but if that breaks, it's likely heading to the better structure below

tradedevil

Long wicks go with the volatility of Crypto Space. In this case, it's a great sign of buying strength. Re-load at the 50% with a stop below the 61.8. These are retracements that we need to relieve the bubble pressure and hype. Weak hands flushed out left with wick lash...

tradedevil

A perfect "measured move." The more technical they stay the more predictable they remain...

tradedevil

If the 100 % projection stays consistent for a 3rd leg, $144 is next support and the potential next entry for a long. If that breaks, $132 will be a magnet as its a Double 1.618 from two different pivots. Powerful.

tradedevil

Waves within waves. 60 Minute left; 15 min right. If you're in and comfortable taking it over the weekend. Let it ride for the five...

tradedevil

Personally, I don't want to be short Bitcoin. I'd feel a little "dirty" doing that as a Bitcoin/Blockchain believer. But, If we break $2,250 again, there may well be fuel to push it to $1,900 before it finds support.

tradedevil

Tight stop. If it takes out the wave 1 low the Elliott count is invalid. Beautiful risk to reward.

tradedevil

Long wicks get eaten by bulls. If you're a fib trader you gotta take this... Tight stop 3-to-1 risk reward at a minimum.

tradedevil

It's in the strike zone. Needs to hold here. Nice risk reward as stop is tight just below 78.6

tradedevil

I'd like my first serving at $180 and take a second helping at $176 if you have any left for seconds...

tradedevil

We all knew it couldn't keep going straight up. We waited for the pullback... then it comes in a flash and goes "exactly where it should go, where it will most likely go... Did you buy it? If not, put your stop just under the 61.8 and wait for a pull back that's within your risk tolerance from that stop out point. Bitcoin may be revolutionary but trading it is the...

tradedevil

Channels have a way of getting retested. That's why it's good to leave then on the chart. That 50% is likely to be challenged. Algo's are programmed to buy it. But that does not mean it will hold. Just another trade setting up...

tradedevil

It takes a big pair to buy that break. I wouldn't short it. Trade what you see and all I see is the correction everyone's waiting for...

tradedevil

The 5 wave is clear. It puts the bias to the upside. Yes we did get a very nice 3 wave a-b-c but it's too short in time to be the likely full correction. It's setting up to be played Short at the larger B and then Long at the C. But that's just theory now. The beauty of Elliott wave is that it gives you a "potential" road map. But only that; potential...

tradedevil

Same pattern... over and over and over again... that's good news. Technical is predictable.

tradedevil

We wait for pullbacks on smaller time frames. But that new target is now the magnet...

tradedevil

Nice 2 to 1 Risk reward. I'll buy this every time...