ETHUSD has turned from the equal leg area and my long from 530.00 is now in the money with stop raised to 506.30 for a swing trade (4h time frame).
From 506.30 low, ETHUS has reached equal leg area where market will decide whether the cycle from the low is completed (red -3- in place at current level or marginal new high and green 1 in place as well) or if price continues to push higher/
This is why I would not recommend to buy or sell at current levels in the 1h.
Those not long from lower, would wait the red -x- to develop to buy green 2.
Invalidation level to the upside is 506.30 in 1h
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
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