CRYPTO of the week NEOUSD playing extended time?
Actualizado
NEOUSD 1H ASIA UPDATE - 05/06/2018
NEOUSD follows the path despite overshooting the equal leg area as the pullback developed in a FLAT (3-3-5 in 15min).
As long as I don't see rsi divergence in the 1h from 58.31 (meaning I don't want to see a marginal new low here), and therefore 52.18 holds, the bounce should develop in at least a corrective 3 waves.
I don't like to buy current levels (I did not buy 54.70 because it was too shallow, but aggressive traders could have done it). Now, if dotted scenario spans out, I'll buy green 2 lower. I would need more data to determine levels.
Invalidation level to the upside is now 47.45
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 04/06/2018-10/06/2018, I propose NEOUSD
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.
NEOUSD follows the path despite overshooting the equal leg area as the pullback developed in a FLAT (3-3-5 in 15min).
As long as I don't see rsi divergence in the 1h from 58.31 (meaning I don't want to see a marginal new low here), and therefore 52.18 holds, the bounce should develop in at least a corrective 3 waves.
I don't like to buy current levels (I did not buy 54.70 because it was too shallow, but aggressive traders could have done it). Now, if dotted scenario spans out, I'll buy green 2 lower. I would need more data to determine levels.
Invalidation level to the upside is now 47.45
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 04/06/2018-10/06/2018, I propose NEOUSD
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.
Nota
NEOUSD 1H EUROPE UPDATE - 05/06/2018This is when it is difficult because many options there BUT none of them tradable for me, so nothing really matters here. However, we need a count for preferred view and here it is.
A sequence from 31/05/2018 low clearly ended but either at 58.31 or the previous day high at 57.60.
Now, the sequence from 58.31 is a clear motive 5 waves that ended at 51.66. So either this is calling for another 5 waves down after a bounce OR we have a FLAT from 02/06/2018 high which is my preferred view for now.
FLAT can extend so I won't be chasing here and because the structure from 47.45 is a corrective 3 waves, I'll stay on the sideline for now.
Invalidation level to the upside is 47.45 while invalidation to the downside is now 58.31.
Reminder that there is nothing bullish in any time frame in NEOUSD so do not pick bottom and chase.
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