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CryptoGraffer

ETC Corrective Wave ABC to dance with $16.40 - $17.80 range

Short
Ethereum Classic (BITFINEX:ETCUSD)  
CryptoGraffer Updated   
BITFINEX:ETCUSD   Ethereum Classic
Trend Analysis Chart Patterns Wave Analysis ETCUSD short shortsetup Fibonacci Retracement Fibonacci Extension Fibonacci Projection Elliott Wave elliotwaveanalysis elliotwaveretracement
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trendanalysis chartpattern waveanalysis etcusd short shortsetup fibonacciretracement fibonacciextension fibonacciprojection elliottwaves elliotwaveanalysis elliotwaveretracement
Hello all friends! This will be my first TA on ETC/USD. After an incredible weekend drop and then bounce, we are now preparing to dip down again for an ABC corrective wave.

  • Short entered $19.798.
  • Stop loss - $20 (move to risk free trade, as price drops, "trailing stop loss")
  • Take profit 1 - $18.00 - high probability - Risk/Rewarrd ratio: 8.88
  • Take profit 2 - $16.75 - medium probability - Risk/Rewarrd ratio: 15.05

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I will update as soon as I get new confirmations.
Trade closed: target reached:
We nailed take profit 1, nice 10+% gain. However ETC is doing an impulse wave up now, so the previous count is off. I will recount soon.
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