XCPUSD has ended a cycle on 12/02/2018 high at 97.60. Since then, the token has developped a double correction structure through 17/01/2018 low, 23/01/2018 high and we are in the final leg. I called the first cycle of this third leg completed at 02/02/2018 lwo followed by a FLAT that ended at 39,657 high on 16/02/2018. From there, I can see a wave 5 possibly completed at 9.6304 which is at the confluence of equal leg area of cycle from 12/02/2018 and 61.8%-78.4% extension of cycle from 23/01/2018. The analysis is based on EW theory adapted by the Trader's Corner on daily, 4h and 1h charts.
Comentário
⋅
For now, longs need to be patient. 3 waves up for now still put pressure on the token. We have reaction on BTC and altcoins in 27/03/2018 (Singapore time). Let's see
What does the red lines at 39 and 97 indicate? Targets? If so, any timeframe?
The_111_Quants
⋅
@cryptoniac90, thanks for the questions. Those lines are invalidation levels resp red to the downside and green to upside. Here it is a 4h chart but the view is more daily. As long as below the 39.65, I will push the count with a bearish view until a cycle ends. Here I call the cycle ended, this is why a green line is now present, but it means only, as long as above, we should see higher.
Here i put a very general view without entry, stop or target. Will do in coming days with a 1h view when I see a setup as per my system. But for daily trade, I would buy, stop 0.00 and target 150.00 minimum.
I explain my approach on Discord. Check my status if you want to know more.
Cheers
CryptMeAlone
⋅
@TheTradersCorner, I can't wait to see $97 again...
The_111_Quants
⋅
@cryptoniac90, Hi mate. Yes, but nothing say it will go higher from here. Still 3 waves. Need the low to hold. If it fails, the FLAT is simply extending, there is no floor here and move before january was not a 5 waves move. So nothing really here. Replied to your message btw. cheers