ETPUSD Long

-16 Week double bottom measured move met
-12 day pennant with horizontal boundary forming
-On H6, pennant can be defined as a continuation ascending triangle and meets the minimum lower boundary two touch requirement to classify a continuation ascending triangle
-18 day and 50 day MA pinching and providing support at current price
-Existing non margin holdings with entry and stop denoted on chart
-Two areas for potential targets;
2.4945 for ascending triangle interpretation
2.9713 for pennant interpretation

30 basis points of risk planned

Comment:

Orders below, I like the bollinger band squeeze on the H4

Comment:

Order update

Comment:

Looking strong and in spite of a lot of red, still some sell walls to push through though

Trade active:

Was filled

Trade closed: stop reached:

Then stopped out, all while I was at work. Crypto is crazy!

Comment:

Still constructive on this coin

Comment:

New orders

Comment:

Ammendment; 2 tranches, this will be my last attempt at getting long this setup

Trade active:

Order executed @ 2.1866

Comment:

Looking good so far, will see once euro and us session comes online.
TPs no change
SL on non margin position is at entry, Trend follow strategy
T1 stops will be managed on a daily timeframe, position strategy
T2 stops will be managed on H6 timeframe, Swing strategy

Comment:

1st tranche stop @ Last Day low being 2.0846
2nd tranche stop @ entry price

Comment:

Strong daily close amongst a lot of crypto weakness, within striking distance of first target

Comment:

Well that sucks, Out of my position and swing tranches with the swing target being met without me. Still holding my trend follow position

Comment:

Testing 50SMA