ETHEUR is acting very strong but has faced a logical level to top at for now. What I'm interested in seeing is how the consolidation develops, and wether we go back down to 7.80 or lower after the daily 'Time at mode' uptrend signal forecasted time duration ends. If we don't, and we hold up in this zone, we could be coiling, forming an accumulation base, before moving higher, above the long term uptrend 'mode', which can take give or take 3 months.
Keep an eye on the daily downtrend 'speed-line'. Currently, we have already broken above the linear regression channel top, and hit the daily 'Time at mode' uptrend signal's targets #1 and #2, so, we need to be patient. I consider it viable for ETH to break higher and resume the long term uptrend, and I have a very good entry on average at the 7.850 mark, so I'll be extremely patient and monitor how the signals develop in the short and intermediate trend, to determine if our long term idea has wings. Currently holding a 20% account position.
Good luck, don't use leverage, and be patient. Cheers,
Ivan Labrie.
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Nice move above the monthly uptrend mode. If we hold and consolidate above 9.86, we'll be very comfortable holding longs from the 7.8+- mark.
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Next, 14-15 Euros a pop.
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'Party time, excellent' (someone catch the reference please...) Cheers
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Yep, we tested resistance here, it'll take a while to break this. It can either grind sideways, or drop a bit. Either way, the trend is up in the monthly, so, buys on dips are fine.
@IvanLabrie Great analysis. ETHUSD just went parabolic. I see more downside risk then upside move - do you agree or do you see a continuation of the rally? Thanks.
IvanLabrie
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@ExcitingTechnology, It's acting as expected based on the monthly chart really. Just let it go and hold. Best thing is to reduce your risk by taking shorter term margin trades on top or hedging from time to time if viable.