I have updated the charts on ETH to more of what i am looking at but i want to drill down a little more with my strategy.
First, I want you all to keep this in mind. We could be going down more before going up. Which is fine for the strategy I will be implementing. If you look at the daily chart, we could very well have more downside.
On the smaller time frames we are getting divergences, MACD's crossing and some patterns like this potential bull flag forming that could drive it up. Outlined on the chart above.
It's important to keep the POTENTIAL larger picture in mind, because for this strategy you have to. I am telling you what I am doing, which is laddering buys, very deep on these pairs martingale style to play these bounces. If you have been reading my posts, you know I have been saying btc has the potential to go down to 4k. Where does that leave ether? Probably around 250-300.
This strategy will prevent major loses and allow me to play bounces as they come. Please read up on the martingale strategy if you have not. I laid out where my buys are in a previous strategy. You can structure it however you see fit.
Happy Trading,
-Sherem
First, I want you all to keep this in mind. We could be going down more before going up. Which is fine for the strategy I will be implementing. If you look at the daily chart, we could very well have more downside.
On the smaller time frames we are getting divergences, MACD's crossing and some patterns like this potential bull flag forming that could drive it up. Outlined on the chart above.
It's important to keep the POTENTIAL larger picture in mind, because for this strategy you have to. I am telling you what I am doing, which is laddering buys, very deep on these pairs martingale style to play these bounces. If you have been reading my posts, you know I have been saying btc has the potential to go down to 4k. Where does that leave ether? Probably around 250-300.
This strategy will prevent major loses and allow me to play bounces as they come. Please read up on the martingale strategy if you have not. I laid out where my buys are in a previous strategy. You can structure it however you see fit.
Happy Trading,
-Sherem
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and if my martingale strategies and ideas are supporting your trading, please let me know with that like button.
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ETH bull flag looking good so far.
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ETH is forming almost arch-like pattern, the bull flag looks invalidated but not a move up, it looks to be mimicking ETH/BTC and testing this 540-550 area.
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the daily time frame is showing macd starting to cross up. MACD is sloping up and RSI is starting look better on these smaller time frames.
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Same pattern on ETH is starting to show, this ascending triangle type pattern.
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We are busting these highs as ETH leads the way, we should just continue to go higher at this point.
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We have just been in the doldrums for the last 24 hours doing nothing. We are resting on this up trendline. My next laddered buy is down at this 511 area if we break down
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Here we look the best, whether you entered in at that 520 support point or again at the 560 area we are in profit. I think the first target is best at this 650 area at this gold line i have. Watch this 580 for support, this is area should be the one that holds.
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we'll also be mindful of this 615 resistance area but if we get a substantial move up it should be minimal resistance here.
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This 615 area is proving the minor resistance, with the peak right now of around 628ish. It looks to be pulling back to this 600 support level for now before another leg up. I am revising my upward target to the 700 are at this point. Daily MACD about to cross which should propel it higher than 650.
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chart update:
