CRYPTO of the week NEOUSD still on track but reaction needed now
NEOUSD 4H ASIA UPDATE - 05/06/2018
View has not changed despite deep pullback yesterday. For now corrective 3 waves to the upside from 47.45 low, so caution with longs if you intent to jump in in the middle of nowhere.
I would really like to see a break of 58.31 now to confirm end of cycle from 94.65 and as long as it is not done, bears have the upper hand.
I still don't like to buy here or lower in this configuration and would rather see a new high with RSI divergence in 4h to buy the correction in the 1h (extension of the corrective 3 waves)
Invalidation level to the upside remains 44.16
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.
View has not changed despite deep pullback yesterday. For now corrective 3 waves to the upside from 47.45 low, so caution with longs if you intent to jump in in the middle of nowhere.
I would really like to see a break of 58.31 now to confirm end of cycle from 94.65 and as long as it is not done, bears have the upper hand.
I still don't like to buy here or lower in this configuration and would rather see a new high with RSI divergence in 4h to buy the correction in the 1h (extension of the corrective 3 waves)
Invalidation level to the upside remains 44.16
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.
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