ETCUSDT to the moon!!! Or somewhere along the way...
ETCUSDT
Trend trade
Supply block around 6.69
Waiting for price to come back to trend which lines up around 50fibs and also previous low wicks - bounce off here will give me 3 confirmations to long
Stop below 61.8. I realise the current structure calls for a bigger stop however I believe as it comes back to the TL more structure will be created and as long as that stays above the 61.8, I'm still long and it will support my stoploss area. If it dips below and my stop needs to be too wide, I will think twice about taking this trade.
Target would be just under supply block as previous attempts to the block have failed to touch it
4 take profit areas along the way - will close trade early at each TP area if it looks like it’s running out of steam
Somewhere between 4-8 days to play out maybe
Trend trade
Supply block around 6.69
Waiting for price to come back to trend which lines up around 50fibs and also previous low wicks - bounce off here will give me 3 confirmations to long
Stop below 61.8. I realise the current structure calls for a bigger stop however I believe as it comes back to the TL more structure will be created and as long as that stays above the 61.8, I'm still long and it will support my stoploss area. If it dips below and my stop needs to be too wide, I will think twice about taking this trade.
Target would be just under supply block as previous attempts to the block have failed to touch it
4 take profit areas along the way - will close trade early at each TP area if it looks like it’s running out of steam
Somewhere between 4-8 days to play out maybe
Order cancelled:
Didnt come back to my buy area. Not looking at this trade anymore. Will re-assess if it comes back to the buy zone.