ETH has bounced off horizontal and MA 50 Support
Volume has been decreasing since the bottom reversal and we have entered a consolidation period where a breakout is nearing.
This Trade could play out in 2 ways,
Upside :
Price Breaks through resistance at 850, Hits Horizontal resistance from major downtrend, tests resistance turned support at 850, and then continues a upward move to 1000USD. Potential for a Inverse Head and Shoulders after this move if price does not break 1000k
Downside :
ETH Fails to break resistance at 850 and retests horiztonal support at 800-810, Price then breaks to the downside and retest previous lows.
Follow Me on twitter @CMagician34 for more crypto updates and ideas as well as NBA talk
#Celtics #18
Volume has been decreasing since the bottom reversal and we have entered a consolidation period where a breakout is nearing.
This Trade could play out in 2 ways,
Upside :
Price Breaks through resistance at 850, Hits Horizontal resistance from major downtrend, tests resistance turned support at 850, and then continues a upward move to 1000USD. Potential for a Inverse Head and Shoulders after this move if price does not break 1000k
Downside :
ETH Fails to break resistance at 850 and retests horiztonal support at 800-810, Price then breaks to the downside and retest previous lows.
Follow Me on twitter @CMagician34 for more crypto updates and ideas as well as NBA talk
#Celtics #18
Comment:
Strong out confirmed by spike in volume above 850,
Trade active:
Trade active, Buy in at 856, Stop Loss 840
Comment:
We are just waiting for BTC to join the up move lol
Comment:
850 support held, and ETH has now broken abo horiztonal resistane, 1000 is the next Target.
Comment:
Testing Support again, Stay alert.
I cashed out at 891 and will look to rebuy if there is confirmation of support bounce.
I cashed out at 891 and will look to rebuy if there is confirmation of support bounce.
Comment:
As Part of my scalping strategy I look for sell opportunities where I can rebuy an equal position in the trade.
For example, I sold at 891 when I saw a bearish divergence in the MACD, and I now look to buy the same position (10eth) 10-20 pts lower once we have confirmation that support holds at 850.
This equals 100-200 USD which covers my stop loss risk from original buy in (857 buy, SL 840)
For example, I sold at 891 when I saw a bearish divergence in the MACD, and I now look to buy the same position (10eth) 10-20 pts lower once we have confirmation that support holds at 850.
This equals 100-200 USD which covers my stop loss risk from original buy in (857 buy, SL 840)
Trade closed: stop reached:
Stop Loos reached, 850 + MA100 Support broken, and Eth has formed a Bear Flag, Watch out for a drop.
My Scalp Trade Covered 80% of my loss from 856- 840
900 was also the 0,62 Fib retracement from bottom.
My Scalp Trade Covered 80% of my loss from 856- 840
900 was also the 0,62 Fib retracement from bottom.
