Well, the Market has cooperated and I am now satisfied that this area is good Support and we are now seeing signs. As a result, I am now ready to place my trade.
I have given you 3 Targets:
T1 $395 R:R 2:1
T2 $440 R:R 3.07:1
T3 $505 R:R 4.08:1
A critical , that needs to be broken is $350-$355, in order for this trade to fulfil our 3 target levels, and as you know, I have shown you Support around $260-$265, to give you a balanced perspective.
Now, I do have higher targets in Ethereum , based on my publicly posted BIgger Picture Analysis, one month ago on 22Oct 17, but we will for now just look at this daily chart:
You now have all the information you need to acquire a Long position in Ethereum and potentially make money $$$.
10+ Years Professional Trader and Trading Educator
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I have traded Futures and Forex for many years.
Often there is coupling present example:
Fi=utures eMini S&p falls Bonds rise
Forex: USD falls AUD or GBP or EUR rises
However, there are also times when there is decoupling when they both go in the same direction. Now, these are more mature Markets in that there are a larger number of participants trading.
As Cryptos is so infinitely small, at present, yes this coupling effect is more pronounced as there are comparatively fewer participants with a restricted amount of money flowing in the Crypto Market.
Crypto Markets are exploding and as more participants come in and fresh money comes in, they will experience the same coupling and decoupling as the Mature Forex and Futures Markets.
So the bottom line is don't have a fixed view.
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