My short tripped over that Green candle, time to get long
Alright looks like it's time to get long on this market. The first real reversal candle I've seen in a while. Didn't reach my target of 370 and was stopped out of my short at 433 (19.1% profit). Looks like ETH is testing the local downtrend line and will likely consolidate before a move up. I will be looking for a long entry at 438 ( .618 retrace if I can get it) and expect the next few weeks to a month at least to bullish. I however do not believe this is the bottom but should be a good swing trade with targets in 600-700 range.
For me this next move up all relies on Bitcoin.
The most likely count has Bitcoin making a move that will be the Bull trap of the decade and one should assume ETH will follow.
These trades at the bottom of the trench should always be traded with tight stops and extreme caution but all indicators look to be pointing up.
Prosperous trading everyone,
As always these are just my recorded ideas for my trades and should never be used as advice for your trading strategies.
If you have something to add or feel like pointing out my inexperience feel free to point out my issues in the comments below, I can only learn more if you are willing to show me. Thanks for taking a look everyone. June was a great month for Bears let make July a great month for the Bulls.
For me this next move up all relies on Bitcoin.
The most likely count has Bitcoin making a move that will be the Bull trap of the decade and one should assume ETH will follow.
These trades at the bottom of the trench should always be traded with tight stops and extreme caution but all indicators look to be pointing up.
Prosperous trading everyone,
As always these are just my recorded ideas for my trades and should never be used as advice for your trading strategies.
If you have something to add or feel like pointing out my inexperience feel free to point out my issues in the comments below, I can only learn more if you are willing to show me. Thanks for taking a look everyone. June was a great month for Bears let make July a great month for the Bulls.
Comment:
Looks to still be a decent chance that this goes bullish. At least I don't see anything that would invalidate it yet. I have an ABC count that should complete around 430 still a higher risk trade so caution is needed. But BTC is looking better and if BTC can hold that .5 retrace then this could get bullish quickly. I personally am going to set this trade out since I will be heading out of town tomorrow and will be gone for a few weeks far away from technology on a lake in the middle of no where. Prosperous trading everyone.