ETHUSD Neutral but underlying still strong whilst working inside the flag
Won't quit. It's spent the last few hours consolidating gains by
hammering out another flag. Two strikes on the lower parallel
shows this is still 'hot'. A buy of the lower parallel but close
out at the upper parallel if day trading. A break above the
upper parallel can be followed for next momentum break but
be careful ...very whippy! (see last break of the last flag).
IF at any point ETH loses the lower parallel of the flag it will
start to unravel for a while. Don't buy rallies if this happens.
Need to stand back awhile at that point if it happens.
This shouldn't really revisit the lower parallel if it's to remain
'hot' from here
Won't quit. It's spent the last few hours consolidating gains by
hammering out another flag. Two strikes on the lower parallel
shows this is still 'hot'. A buy of the lower parallel but close
out at the upper parallel if day trading. A break above the
upper parallel can be followed for next momentum break but
be careful ...very whippy! (see last break of the last flag).
IF at any point ETH loses the lower parallel of the flag it will
start to unravel for a while. Don't buy rallies if this happens.
Need to stand back awhile at that point if it happens.
This shouldn't really revisit the lower parallel if it's to remain
'hot' from here
Comment:
Bitcoin has broken out so all the alts will drift away...they've had their moments for a whie. sell alts if long, it's back to Bitcoin for now...You got this now...Bitcoin tells you the future, the LEAD indicator. Be lucky this weekend. Money never sleeps, huh
Comment:
A bit too hurried and not clear enough: Alts v Bitcoin are a sell. Alts V USD have their own path to lead and so this one, ETHUSD is neutral whilst still in the flag. It can still break to the upside, and can be followed as per earlier updates if we see it.
It's doing fine so far. But we aren't long here now (or shouldn't be unless were so slick as to clip that last low off the parallel some time during the night - who was that? So cool) - having sold out very close to the highs of the parallel yesterday, or on exit from it. But now poised to get long gain if the signal is given
It's doing fine so far. But we aren't long here now (or shouldn't be unless were so slick as to clip that last low off the parallel some time during the night - who was that? So cool) - having sold out very close to the highs of the parallel yesterday, or on exit from it. But now poised to get long gain if the signal is given
Comment:
Very careful here now...looks like a failed break so far with no follow through. It must find buyers now or can dribble down the parallel and break hearts all day. If we don't see a pulse of green very soon we need to face the fact it's failed. some do. the key is not hoping. Just seeing. Not over yet but the cavalry need to arrive very soon now...
Comment:
approaching a break out line of resistance which if broken through should be worth about 30 points, maybe more - worth following - will need to see a decent green candle and momentum pick up on the break...not like the last one which fizzled out...but like the ones before that...look at them! That's what we need to see - the first two candles being positive...and remember to follow the chart, not your hopes!
Comment:
yeah well. Big red candle as people take profits...start selling rallies now if still daytrading this. Gotta go . may catch you later. Bear engulfing...tide is turning ahead of China
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Comment:
Last thoughts for now...it should have a problem at 8700 and up to the parallel at 8734 now so it's a sell in this range with stop above the parallel...don't be aggressive though just scalp if you can - otherwise leave it. We've had it away here today. Don't need to push it. Stay lucky
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