After the juicy accumulation of LTC I am wondering if ETC can be the next YOLO, not fan of ETH, ETC looking healthy on ichimoku all time frames and MACD.
ETC moved higher for the last couple of weeks. Last big bullish candle moved pair over 3$. Pair is moving sideways. I marked 3 GAP's on the chart which are creating very strong support combined with psychological level 2.50$. It is quite possible that pair will move higher eventually breaking 3$.
I would go long here with SL just beyond the longest shadow which...
We are en route to my Buy Zone (green box) before a retrace to my Sell Zone (red box). Feel free to short from here. Keep your margin small and trade safe! Have fun guys!
Upon finding this cup and handle pattern it reminded me of a brilliant idea by www.tradingview.com
The graphics are just for a bit of fun :) but this is the structure I'm currently watching for ETC/USD.
Less than 24 hours ago I posted my view on the 1h timeframe featuring an ascending channel (chart is shown below).
This provides us with an excellent scope on...
What's up everyone, here we have ETC/USD on the 1h chart with a very distinct ascending channel.
Price has been trading within this area for one whole month testing both support and resistance various times, with no sign of a clear breakout.
The purpose of this post is to highlight the key price structure within the market... Refer to this chart whether you're...
4hr chart indicating a trend reversal could become more evident as the price slips further under the 50sma. As always trade smart & use sl's & tp's to ensure risk is managed properly.
Purple line is Trend,
Blue line is zone
Terquoise line is Time slot.
Lets see if this works out, if above Purple = short,
Bellow Purple = buy,
thats how i roll.
Disclaimer own risk ofc. S/L 2.49
TP3 would be 2.96 or just hold and try
At the bottom of a clean ascending canal, one can only be tempted to go long, especially considering that 0.618 were reached, which indicates profits were taken.
The presence of a Shoulder-Head-Shoulder, might result on a severe breakout though.
The strategy would be to go long and stop loss at breakout, and possibly go short.
Good fortune :)
I expect a big correction to materialize somewhere between now and early next week. If we get an ATH double top, then we should see a sharp dive to the lower 1.40s (purple range). Otherwise, we might land somewhere between lower 1.30s and upper 1.20s (teal range). I recommend that we setup our Buy orders at these two ranges highligted in my chart. Good luck trading!
