One week ago (24 Oct17), I provided you, using my Technical Analysis skills, an area where I identified Fibonacci Support around $260-$265. However, I deliberately did not place a trade as I wanted the Market to PROVE itself to me. PATIENCE is critical in trading, in order to objectively evaluate your Risk.
Well, the Market has cooperated and I am now satisfied that this area is good Support and we are now seeing bullish 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 resistance level, 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 $$$.
Sean Vengan 10+ Years Professional Trader and Trading Educator
REALITIES IN TRADING: In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading. We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE. Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades). Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY. Always factor in "WHAT IF I LOSE MONEY ????"
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Bình luận
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Professional Advice: 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.
Great analysis Sean. Thank your very much for your kind efforts buddy. Much appreciated.
UnknownUnicorn1063189
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@crypto.888, Thank you for your appreciation @crypto.888, never overlooked.
Vintage66
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It will never cease to amaze me how people will hate on someone who is giving free advice to help them learn . I have greatly appreciated everything Sean has shared here on Tradingview and am glad to see he is moving on.
If anyone wants to stay in touch with Sean
go to his profile link and register on his website
Dlu
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Eth whales are controlling the market and price.
Btckk89
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@Dlu, whales usually make a move when it's least expected. No way are they going to act according to the opinions and expectations of the common traders and investors. Same goes with the other cryptocurrencies.
They dictate where they market will be going. Do you wonder why Eth hasn't been going over 310? Or if you look at exchanges esp. Gdax you see fishy activity with bots buying/selling things. Whether this may or may not have an effect, the bigger entities are just waiting for a convenient time to trigger moves.
We will have to see how this plays out.
It's definitely interesting how we are not able to break 350.
There may also be Eth manipulation to keep it from competing with BTC...just a thought.
imraanmansoor
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@SEAN_VENGAN Its being amazing following your technical analysis learning a lot from you. If its possible I would like to join your group.
UnknownUnicorn1063189
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@imraanmansoor, Thank you. Yes please do join. I will Pm you now.
mk_trader
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Mr. @SEAN_VENGAN, is it probable to think that because of BTC volatility and somewhat insecure future (segwit2x) market will turn to other coins? Can this be driving ETH and other coins?
One other thing, I see many are joining your group, count me in, please, I would like to know what is this group all about ;-)
UnknownUnicorn1063189
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@mk_trader, Yes that's a possibility. Anything can happen in these Markets, just protect ourselves with Stop Losses.
Sure would love to have you join. I will Pm you now.