Following the article on correlation, I present ZRXBTC for a long trade and practical example of the importance of 18/03/2018. As we see, a cycle ended at 27/01/2018 high in a 5 waves up (RSI divergence in 4H and daily timeframe), so according to EW, this is calling for another 5 waves up. All cycles identified by vertical lines ends very precisely at 100% extension of the first leg of the cycle (all corrective in nature, despite the amplitude of each cycle), and at 0.00004819, we reached convergence of 3 major cycle ending and last one being truncated at 61.8%-78.4% which is quite common. On 19/03/2018, those cycles ended and the highest degree as shown here with RSI breaking up its downtrend line.
So from here, I propose buying 0x token against BTC from this level and lower if reached with stop below the 19/03/2018 low and target 0.00226-0.000268
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A cycle from 7277 is over. Now, either we break above 7277, either it fails and we head for a double correction. Looking at the structure from the intermediary low, third wave exceeded 161.8% of first wave, and RSI started divergence (1h timeframe). So I expect a shallow pullback soon, and a 5th wave that will add conviction to the view. However, I do not need a 5 waves motive up as corrective waves can suffice (but it is slower and we still remain under the pressure of bears). I remind that in my views, a market can trend in corrective waves (which is not what EW proposed). Market will tell.
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Spot on. The move was indeed "big". 3 waves up for now from 4765. I do not need an impulse (motive 5 waves) in the first cycles to reach my targets. I cannot raise my stop to BE for now as a cycle might have ended. So partial profit at 100% extension and now stop below 4765 for a risk free position with hopefully a nice return.
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Cycle completed at 27/03/2018 high and pullback at 7256. Cycle ended means that because the move was 3 waves up, we are still in corrective mode and no more bullish sequence to confirm higher (means that nothing says it cannot go lower from here). From current level, either 7256 holds and we go higher to 11991-13108. If level fails to hold, then double correction projects 6151-5299. Invalidation level to the upside is 4765. If it goes there, I buy again.
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Still in play and follow nicely the path. First attempt possible in 1h time frame for double correction. Levels given in Discord channel. If time allows, will publish Idea separately here.
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Great trade so far. update for patrons on 1h time frame for other entries.
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Without any doubt my best trade of the first quarter! BTC is a sure value, but got few altcoins out there that will outperform in coming months! Exciting time.
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spike during US session that took out 9500 opening door to 11,772-12,889. need to stay 7,037 to avoid FLAT. on those spike, probably some short squeeze. Does not really matter in the end, only price and levels matter...
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Ah that One. Reached 61.8%-78.4% extension of cycle from 19/03/2018 low and retraced. Tough cookies those spikes for EW count! Where do we go next? Nowhere, we wait, as long as above 7037, for 11,772-12,889.
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Trade from 21/03 is amazing ... New count available with intermediate milestones available in new Ideas
交易結束：目標達成
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What a ride! Count has been updated of course since I took the trade. 10,920: we reached 100% extension of cycle from 01/04/2018 low which coincide to 78.4% extension of cycle from 19/03/2018 low. initial risk 2% of capital, reward 8,70% of capital ...
Will buy lower again as we now have a bullish sequence in 4h TF
In your "INTRADAY TRADERS" tier, are you generally covering only BTC, or does this extend all over the cryptosphere? Thanks!
The_111_Quants
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@daysaway808, Hi thanks for your 2 messages. Much appreciate it. As you have seen on the patreon, I have just started and charts require a lot of time as I provide 1h 3 times a day, 4h every day and daily and weekly over weekend. So BTCUSD is the official instrument for now but in April, I will extend to ETHUSD at the request of the patrons. I am also on Discord most of the time and this is where I share my other trades and ideas and also signals, I cover all crypto that i like or on demand. You may have seen my paper on correlation.
This is why for the first 10 intraday traders patrons, I offer to upgrade to the $100 tier with private discord channel and training on my approach. The patreon is also about education in trading. Hope to see you there.
As for DBG and Ontology technicals, I do not know but I will surely check it out. Cheers
daysaway808
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@TheTradersCorner, Thank you for the quick response! I am strongly considering signing up, especially given the upgrade!
I shall be in touch.
The_111_Quants
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@daysaway808, you are welcome. As said, I'm on the deck almost round the clock. Take your time, no worries. you can find me on other medium to continue discussion as we offer also many other edcuational information about the blockchain, airdrops, etc.
daysaway808
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Iv'e just discovered your charts! Very well done and well explained. I appreciate the time for doing this. I'm definitely going to check out your patreon and discord. Have you ever taken a look at the DGB or Ontology technicals? Many Thanks!
lemonsandshade
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if we go above 7300 level soon i think we will see big impulses!
The_111_Quants
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@lemonsandshade, hi, thanks for your comment. break of 7300 will initiate a bullish sequence (when wave 3 takes out high if wave 1). I don't know if cycles will be "big", but we will be heading on the right path. I bought at 5824 in the first move from the 4765 low (stop below) targeting 26800 and open. Cheers mate.