Hi everyone,
New idea for BTCUSD with a trade setup for soon, hopefully. Remember to like the post if you feel it deserves it. It helps me a lot and is very much appreciated. Thanks
BTCUSD 1h ASIA UPDATE - 05/07/2018
With this new high at 6,792.28 and rsi divergence, we have enough swings to the upside to call first leg of new cycle from 24/06/20178 completed, but marginal new highs cannot be ruled out (preferred view).
For now, I don't like to buy because closest invalidation level is 5,780.00 and I would prefer to buy once this first sequence is indeed completed (watch rsi trendline for a break down). I don't like to sell either and will position at purple 2 (remember, from here or higher, buy any pullback in a clear corrective 3 waves (3, 7 or 11 swings) as long as above 5,780.00.
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New idea for BTCUSD with a trade setup for soon, hopefully. Remember to like the post if you feel it deserves it. It helps me a lot and is very much appreciated. Thanks
BTCUSD 1h ASIA UPDATE - 05/07/2018
With this new high at 6,792.28 and rsi divergence, we have enough swings to the upside to call first leg of new cycle from 24/06/20178 completed, but marginal new highs cannot be ruled out (preferred view).
For now, I don't like to buy because closest invalidation level is 5,780.00 and I would prefer to buy once this first sequence is indeed completed (watch rsi trendline for a break down). I don't like to sell either and will position at purple 2 (remember, from here or higher, buy any pullback in a clear corrective 3 waves (3, 7 or 11 swings) as long as above 5,780.00.
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.
Comment:
pushing count higher because of RSI in 1h and 4h. However, cycle is mature. Wait to see more data to buy purple 2 from here or higher.
Comment:
cycle from the lows is completed. time to be ready for a clear corrective 3 waves, probably later in the week ...
Comment:
1H ASIA UPDATE - 19/07/2018
Same view as bitcoin is nesting to the upside. Marginal new high again yesterday and we should see more. Plan is still to buy pullback in clear 3 waves.
Same view as bitcoin is nesting to the upside. Marginal new high again yesterday and we should see more. Plan is still to buy pullback in clear 3 waves.
market seemed to prefer alternate view. Well, I move on and adapt the count. Here, does it matter? No. 4H is pretty explicite. Either, cycle from the low is completed and then we have a motive 5 waves and therefore after correction and another motive 5 waves. Or cycle is in progress and we should see marginal new high to complete a motive 5 waves (RSI divergence must remain intact). So patience here.