tradedevil

tradedevil

The 5-wave count is still technically valid as we came very close but did not breach the wave-1 high... While this is not the prettiest count I've ever seen. It's definitely trade-able. Reasonable risk reward with a stop just below the wave-4 low. It could run. I like it. Risk reward to the upper targets of 5-to-1 but there's going to need to be a big push at that...

tradedevil

Setting up beautifully. That little a-b-c is just what I wanted to see. Now, I like that Wave-3 high again as it's lining up perfectly with the 38.2 and the 100% alternate price projection of the a-b-c. You've got two entry points and a clear exit should it breach the wave-1 high. Two targets above offering a 3-to-1 and 5-to-1 risk reward. A ways to go to get to...

tradedevil

Yea, I got stopped out. But the loss is modest and I can consider re-entry because it was small. I'd take that trade again, 100 times in row. So where now..? The presumption that this is a wave-2 holds for me as long as we stay above the 78.6. That's a deep wave-2 but it shows up in all markets on all charts and all time frames. Here's the conundrum; if you wait...

tradedevil

If you missed it yesterday... The train came back to pick you up. It can't get any more simple than this. If it breaks the channel...? You're out with a small loser. If it holds; You smile and marvel out what a brilliant trader you are... Train about to pull out... You on board?

tradedevil

This looks good. A clear 5 wave impulse in the 3rd wave setting up a 4th wave retracement. Here's the tricky bit... where does it find support? The last drop had if turn at the 38.2 and on the prior wave-3 high almost to the tick. Just as you'd expect. Now we approach again for a second test. All we can do is look for clues and calculate based on probabilities and...

tradedevil

Always a good idea to take it up a time frame to get a better look at the Forrest. With a look at the 4-hour, It's still not a clear structure. At lease not to me. That shallow B wave at the 38.2 continues to nag at me... This could still play as an A-B-C and be setting up a Flat (3-3-5). I want more evidence that we're in a clear impulsive structure and I see too...

tradedevil

Things happen fast in crypto... You can't react. You have to plan... The BTC and Ethereum trades have been setting up for days. There is little doubt that Algos just ate the drop here. Almost to the tick of the wave 3 high. If your'e not in and you see it... you've already missed it. I'm not in this trade by the way... I see a "potential" bull trap. I'll wait for...

tradedevil

Come in fast... Algo's love the 50. 61.8 is where they bail... Quick check list. Stop placement clear. Limit orders can fly...

tradedevil

BTC rolling... Next resistance looks stiff at $2,800. That is now a technical bulls-eye. Quite a bit of Fib confluence to be dealt with... The 78.6 of the swing high to low. The -23.6 of the X-A-from B leg and the .618 alternate price projection of X-to-A from B. Now add the prior B wave high and, don't forget to look left for some prior support to become...

tradedevil

This is directly from the Algo play book. And let me give credit where credit is due; David Halsey (of eminiaddict.com) is the guy who found/discovered this pattern and informed the trading community of it's validity... This is a measured move, from a high-to-high extension. A "traditional" measured move would come from a low-to-high... as we so typically look for...

tradedevil

This structure will hopefully show it's hand tonight. The shallow retracement to the 38.2 is a little suspect. It implies an extremely bullish market but I know its not loaded with Algo fire power because they load up at the 50%. This would be an unusually aggressive front run. Possible... but, questionable. Trading commandment: "when in doubt, stay out." If...

tradedevil

That's likely going through your mind looking at this chart. I know, it occurs to me as well. And it's occurring to every ETH trader that's even glanced at a chart over the weekend. Gives you a moments pause; doesn't it... Am I taking the trade..? Damn right I am. There is no viable "technical" reason not to... Was it too easy on the last 50% pullback..? Was it...

tradedevil

The potential is here, for an absolutely perfect trade set up. We have a clear impulse wave that is now correcting. We've got all of the necessary ingredients to drive an Elliott wave structure. Algos definitely in, more and more Futures and Forex traders getting in, noobs pouring in... the perfect Elliott stew. Are you feeling a little tinge of greed start to...

tradedevil

The only conclusion that I can come to on this DASH Chart... Is that; "if" this wave count holds, we are going much, much higher. So, how to trade it... No reason 'not' to expect the retracement here for yet a 5th wave 1 to wave-2. At some point, this goes to a wave three, of three, of three... you get the picture. Higher. Again, "if" the count holds there will be...

tradedevil

Okay, I'm a LTC bull. I thing the run is just beginning here... But as a trader, the only questions to ask are; where can I get in (if you're not in already) and where does the market prove my trade wrong? With this move, we can make it very easy... Breach the wave-1 high of this impulse at: $34.23 and the trade route is taking a detour. Until then, we buy where...

tradedevil

Wow, talk about confirmation! Yea, the bull is back. Now this is what you call an "impulse" wave. But if you're not in... the risk is high to chase here... My suggestion is sit on your hands and wait for the next pullback. If it's going to continue in the beautiful 5 wave structure, the wave-2 pull back will come. And the reason it "almost" always comes..? because...

tradedevil

No surprise here... right to the 61.8. Good news bad news really. The turn there confirms algo's are at the wheel. We're now most likely to retrace to a 'minimum' of 50 % for the wave-2. But we can't really confirm the new count higher until we break that 61.8 at $2,540. It might happen tonight or over the weekend. Either way, if you're not in, playing it...

tradedevil

Ya just gotta love this stuff... I don't know that it can get any more text book than this. Classic TA meets Elliott for a potential big swing for the fence. You don't see a prettier hear and shoulders than we have on the daily. Take it down to the hourly and you have a very nice impulse wave unfolding. If the trend is string enough the turn at the 38.2 has...