ETHUSD 1h - caution does not mean sell but respect the buy level
Exceptionally full comments on ETHUSD 1H ASIA UPDATE
Following recent update of the count in 4h, we have a bullish sequence from 358.40 and therefore 498.34 will act as our main invalidation level in this sequence. For now, having had a motive 5 waves from 498.34 that ended at 624.75, as long as above 573.58 we should see at least 699.99-729.82 with possible extension to 778.11.
This means that we are already at equal leg area and that cycle is mature but I expect one marginal new high to complete the sequence from 573.58 low in a motive 5 waves.
Path is pretty clear up to red -3- but then we are exposed to bears and coming sessions will be important. Indeed, there is nothing to confirm that we will have a motive 5 waves up from 358.40.
Invalidation level to the upside is 573.58 and 498.34.
I'd prefer the other setups given this morning. Be safe with ETHUSD. I won't participate.
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 22/04/2018-28/04/2018, I propose ZRXBTC
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.
Following recent update of the count in 4h, we have a bullish sequence from 358.40 and therefore 498.34 will act as our main invalidation level in this sequence. For now, having had a motive 5 waves from 498.34 that ended at 624.75, as long as above 573.58 we should see at least 699.99-729.82 with possible extension to 778.11.
This means that we are already at equal leg area and that cycle is mature but I expect one marginal new high to complete the sequence from 573.58 low in a motive 5 waves.
Path is pretty clear up to red -3- but then we are exposed to bears and coming sessions will be important. Indeed, there is nothing to confirm that we will have a motive 5 waves up from 358.40.
Invalidation level to the upside is 573.58 and 498.34.
I'd prefer the other setups given this morning. Be safe with ETHUSD. I won't participate.
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 22/04/2018-28/04/2018, I propose ZRXBTC
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.
Follow instruction on the chart and caution is required as cycle in 4h might be ending