tradedevil

tradedevil

Right in the pocket for a Wave-4. And looking at the longer tern chart on the right you can see how well this market has responded to 50% and 61.8 percent retracements. Add the 100% alternate fib projection and this is a sweet trade with a 9-to-1 risk reward. No need to give the stop much room beyond the 127% wave-c projection. A turn of the oscillator is there...

tradedevil

Not the cleanest, prettiest count I've ever seen but with the pause at the 78.6 it's trade-able. The deeper the retracement the lower the risk and the greater the potential reward. Think of a slingshot. The deeper you pull it back the farther the rock flies. Tight stop under the last pivot and you've got a 7-to-1 risk reward. I'd like to see the oscillator make...

tradedevil

Here's the ETH road-map as I see it. First; we "must" break the micro wave-3 high at $286 to confirm we've got an impulse wave underway in what is now labeled the Wave-3. If we do, and only if we do, the next loading zone is at the 50-61.8 zone for the Wave-2 retracement. If you're currently long, I'd tighten your stop to around $255ish depending on where you got...

tradedevil

I like to see that we've broken out of the median lines. Next up two hurdles. BTC is struggling to get through the 61.8. But that's likely to be a the smaller of the two fights given the technical history. The last stand for bears will be the 78.6%. If we break that... $3,000 is your next target. Round numbers are magnets and the stops sitting just above the...

tradedevil

In case you're wondering if the Algos are in Crypto... I'm looking for a 5-wave subdivision as we move to the target of $56. Don't fight these, get in behind them...

tradedevil

This chart doesn't require a whole lot of explanation. If you follow me, you know what I'm doing here. The only question you have to consider is if you want to start buying at the 50% retracement or wait for a deeper wave-2. The deeper the retracement the lower the risk to your stop and, it does offer very nice structure with a touch of the median line. Take note...

tradedevil

This looks likely to be a quick move. But there is real potential for this to move to the second target and catch the median line. Your stop is at a breach of the wave-1 high, other wise this is a ride on the 5. Get enough so you can take a partial at the 1.618 of the wave-1. Hold the rest for the 200% and the median line. Got get it... it's moving away now.

tradedevil

I love this type of set up. Right in the corner of a Pitchfork. Add the fib retracement and a channel for structure. Sweet. I like this setup because the market will tell you if you're wrong quickly. A move out of the median lines and you're out without much account damage. A hold here and the larger target of the median line gives you a huge risk-reward ratio....

tradedevil

All the Crypto majors in the same pattern. Litcoin offering up the wave-2 retracement. If you're already in, here's a place to add. If you're looking for an entry, this is a conservative traders easy on ramp. A clear exit at the low. Aggressive trades can start buying at the 50 to avoid getting left at the station. If you prefer your entries structurally...

tradedevil

Remember fibs cut both ways.. Just because we held the fib retracement (albeit sloppily) on the way down, doesn't guarantee a straight move up. If, and again it's a big "IF" but if we have a Wave-4 low in, then we can approach trading this next leg up with the assumption that it will sub divide into an impulsive wave structure; i.e 5-waves. First test is the 50%....

tradedevil

Make or break."This" is a BTC traders hard fork. Bulls need this to hold and I'm one of them. Aggressive traders not in BTC, here's as good a setup as may see for awhile. Stop is close and upside is a beautiful 7-to1. 78.6 has held the previous retracements. We've got channel support and the modified Schiff pitchfork just to give the devil a tip of the hat. Now...

tradedevil

Much like ETH, we've had a breach of the most recent wave-1 high. By strict Elliott rules this count is in validated. For some traders that's a clear signal to be out. Here's what I see; no acceleration to the down side fueled by stop volume. Looking at the last series of pivots they've all been very technical. We've just stabbed right between a 61.8 retracement...

tradedevil

Yea, this is a judgement call. Technically, in strict Elliott terms, the breach of the Wave-1 high invalidates the count. So now you have to ask yourself if it was a stop run, as everyone whose watched this chart for the last few days knows that stops will have been sitting just under the 61.8. However, knowing that... you have to ask yourself; did that volume...

tradedevil

A touch is not a breach... That sell off went to the Wave-1 high to the tick. If you think that's a random event... you do not understand who or what you're trading against. As long as that Wave-1 high holds, this market remains in a bull trend. This is a nice place to be a buyer as your stop is so very close. Always better to have the market tell you when you're...

tradedevil

Technically, you can't ask for a better setup. Stop is close and you've got a beautiful risk reward of 8-to-1. The best trades are often the hardest to take. Of course this could blow right past this support. But you remember the game we're playing right... It starts with no risk = no reward. My orders are in...

tradedevil

Oh I like this all day. Yes, this needs a bit more room to breath as the count remains valid as long as we stay above the wave-1 high. But you've got to like technical's at $39. We've got the 38.2 and the 100% alternate fib on the a-b-c. Add the channel and the nice prior Wave-3 high support and my orders are in. The lower price of Litecoin allows for a bigger...

tradedevil

Well, that's no longer a wave-2. Two stops in a row hit for me on what looked like such a promising trade. Hey, reminder to self and all... there's no easy money in trading. Take the hit, live to trade another day and look for the next trade. We can read this... Yea, I'm sorry the channel didn't hold. It was gorgeous. But we've got a nice big fat A-B-C that...

tradedevil

The Bears take control for an early weekend lead. They always were a contender. The weak and shapeless wave-2 on the hourly was the Friday night 'heads up' that the Bullish counts was failing. So stops get hit and we look for the new road map. Suck it up. That's trading. If we're heading down the path of a C-wave here there will be a couple of important tests. The...