This can be kind of a safe trade. I don't see any bad forecasts for ETC. We are moving in this channel for almost 3 weeks now, accumulating nice and break to downside is not such a probable.
If we don't break Support 1, I'd buy some when we cross 9.65.
If Support 1 will be broken, wait for pullback and buy some more at 9.5.
If we come down to Support 3 (which is also psychological limit), buy even more after trend reversal (this could be a quick one, so retest is not a must).
First targets for all trades should be 10.5, which is already nice gain and we should cash out a little bit of trade. Bigger part of trade should be left to collect at 11.9 and if ETC gods will be nice to us, we could reach 13 and beyond. Just watch the market closely at these prices!
I'd put stop losses for all trades bellow 8.
If we don't break Support 1, I'd buy some when we cross 9.65.
If Support 1 will be broken, wait for pullback and buy some more at 9.5.
If we come down to Support 3 (which is also psychological limit), buy even more after trend reversal (this could be a quick one, so retest is not a must).
First targets for all trades should be 10.5, which is already nice gain and we should cash out a little bit of trade. Bigger part of trade should be left to collect at 11.9 and if ETC gods will be nice to us, we could reach 13 and beyond. Just watch the market closely at these prices!
I'd put stop losses for all trades bellow 8.
Comment:
First target reached.