CRYPTO of the week: BCHUSD range trading. up down up down
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 triangle, so here we entered from 1,574.37 and the first leg within the triangle is from 1,225.55 low to 1,487.65, so we will exit to the downside. If we don't, that means that the structure was not a triangle and I will find out what it is when it is completed (reminder nobody has a crystal ball, neither do I).
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Also in a triangle, remember that we have 5 legs and the exit is in the direction you entered the triangle, so here we entered from 1,574.37 and the first leg within the triangle is from 1,225.55 low to 1,487.65, so we will exit to the downside. If we don't, that means that the structure was not a triangle and I will find out what it is when it is completed (reminder nobody has a crystal ball, neither do I).
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Related Ideas
If we break higher, means that the first leg from 1,574.37 was a corrective structure probably a regular FLAT and red 2 is in place (structure from the lows being ABC or 123 of motive waves).
Will upload a short video to explain options at end.