I can't say I wished for it because I would have managed without it, but this last new low just erased RSI divergence and therefore, count is adjusted with motive 5 waves from the lows (4h time frame).
Does not change I'm in and in the red for now but confident the bottom is there, or at least a bounce so that I can protect my position.
So another opportunity to say that the count is important (needs to be done properly) but when it comes to trading, the count (the path) does not matter so much in lower time frame as long as we have the direction to be on the right side at the right level.
Now that I'm in the trade and that the count changed, I won't touch my position because at the moment the entry was triggered it was right.
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 06/05/2018-12/05/2018, I propose ETHUSD
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.
Does not change I'm in and in the red for now but confident the bottom is there, or at least a bounce so that I can protect my position.
So another opportunity to say that the count is important (needs to be done properly) but when it comes to trading, the count (the path) does not matter so much in lower time frame as long as we have the direction to be on the right side at the right level.
Now that I'm in the trade and that the count changed, I won't touch my position because at the moment the entry was triggered it was right.
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 06/05/2018-12/05/2018, I propose ETHUSD
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.
交易结束：到达止损:
I got stopped out and I see now a triple correction to below 60. That is okay, account not hurt, I move on.
As per my rule, I never hop back into a losing trade within 24h but correction should be over soon. The FLAT is off the table for now as it is because we have a corrective structure from the highs. Technically, I would not buy a triple either because it can always turn into double correction. So can take position but stop should be below 44.34 and I will maybe join the longs after the weekend when I see how is the situation. We got some good setup in BTCUSD and ETHUSD to come. Plenty of opportunity out there! Be safe. cheers
As per my rule, I never hop back into a losing trade within 24h but correction should be over soon. The FLAT is off the table for now as it is because we have a corrective structure from the highs. Technically, I would not buy a triple either because it can always turn into double correction. So can take position but stop should be below 44.34 and I will maybe join the longs after the weekend when I see how is the situation. We got some good setup in BTCUSD and ETHUSD to come. Plenty of opportunity out there! Be safe. cheers
