I love finding leaders and lagers and this seems like a perfect example. Its easy to see the similarities in these charts- they're not exactly the same but wow are they close. The last time I noticed something like this BTC had just hit 20k while ETH was still at $500 (see below). Just like BTC was leading the way then; it looks like ECT might be leading DASH (& others) now. The ball's in your court.
There are a few way to tackle this trade;
Entry 1: here $125 - $131
Stop 1: tight $124.5 or loose $120 depending on how aggressive you want to be
Entry 2: on retest of breakout
Stop 2: below the retest pivot
Entry 3: on a test of the lower trend line
Stop 3: below the pivot at the trend line or on the break and close below trend line
Entry 4: on retest of breakout
Stop 4: below the retest pivot
Target for all of the above at your own discretion. I'm treating this as an entry for a longer term position; so I'm holding it for much higher prices.
Trade ideas:
BTC leading ETH:
Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
There are a few way to tackle this trade;
Entry 1: here $125 - $131
Stop 1: tight $124.5 or loose $120 depending on how aggressive you want to be
Entry 2: on retest of breakout
Stop 2: below the retest pivot
Entry 3: on a test of the lower trend line
Stop 3: below the pivot at the trend line or on the break and close below trend line
Entry 4: on retest of breakout
Stop 4: below the retest pivot
Target for all of the above at your own discretion. I'm treating this as an entry for a longer term position; so I'm holding it for much higher prices.
Trade ideas:
BTC leading ETH:
Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Comment:
I love that I can't edit my posts later when I see a typo 😂 😂 damn. ETC not ECT!