CRYPTO of the week: ETHUSD seen lower doesn't mean I'm selling
ETHUSD 4H UPDATE - 06/05/2018
Alternate view came into play during last trading week and we saw a new high in price but not in RSI as suggested. This means that preferred view is cycle from 358.40 ended at 830.00 and that while below that level ETHUSD should see a correction. Depth of this one is to be evaluate.
I don't like to sell, but would prefer to position longs lower at purple 2.
Invalidation level to the upside is 358.40
Invalidation level to the downside is 830.00
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.
Alternate view came into play during last trading week and we saw a new high in price but not in RSI as suggested. This means that preferred view is cycle from 358.40 ended at 830.00 and that while below that level ETHUSD should see a correction. Depth of this one is to be evaluate.
I don't like to sell, but would prefer to position longs lower at purple 2.
Invalidation level to the upside is 358.40
Invalidation level to the downside is 830.00
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.
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