ETHUSD heading for $300 at least.

5 thg 8, 2017

ETH left downtrend and started a new up cycle.
Just broke out,wait for a correction. First target is 260, wait for a correction towards yellow trendline.
Dont chase candles!
Updates will follow on lower timeframe.

5 thg 8, 2017

Ghi chú

Perfect touch of first targetzone @260 and trendline. Right now retracing. Lets wait and see till how far this correction can go.

7 thg 8, 2017

Ghi chú

First target reached, perfect in the blue box.
Let's see if we get a (small) correction before further up towards 300

9 thg 8, 2017

Ghi chú

Tagetbox got hit, I'm expecting some pullback now.
Lets see how far before next leg up.
Once pullback is completed, we can determine next target.

9 thg 8, 2017

Ghi chú

sorry, wrong chart above. No function to edit an update

10 thg 8, 2017

Ghi chú

After topping out, ETH retraced as I expected which looks to me as a classic ABC-correction. Currently forming a bearish pattern bearflag which indicates more downside.
We have 2 options right now:
1) It doesnt break top at 304 and retraces back to (C)
2) It goes a bit more up as RSI shows it has short term room to the upside and retraces from the little blue box in top.

Trading advice: wait for further correction to (C) and watch price action there for next leg up or go short if it breaks the trendline. I will update if necessary.

10 thg 8, 2017

Ghi chú

Just a small note extra about Trading Advice: if B extends to the blue box, it will be also a nice short to C. If it doesn't break to the upside!

12 thg 8, 2017

Ghi chú

So, it was the second option....
Price hit the target zone and is retracing a bit now. If it breaks the yellow trendline, its very likely to visit the blue box in the bottom of channel what should be a good point to consider adding longs for the run to (5)

14 thg 8, 2017

Ghi chú

Watch price action.....
A break out to the upside changes the pattern

tradingview.com/chart/Z1iG7mSF/

14 thg 8, 2017

Ghi chú

does it work now?

15 thg 8, 2017

Ghi chú

On its way.....
I repositioned the targetbox slightly as it became more clear now (B) is in position

15 thg 8, 2017

Ghi chú

Targetbox got hit already!
Based on RSI + MACD, I'm expecting some more downside. Possible scenario in blue.
Breakout to the upside could be a buysignal, watch priceaction near upper trendline but be carefull as I', still bearish on ETH.

17 thg 8, 2017

Ghi chú

ETH broke out of the down trend channel but it didnt convince me....
I cant really explain, but I have the feeling it will look for more downside.
Currently in a expanding triangle which is a trend reversal pattern (down)

20 thg 8, 2017

Ghi chú

ETH is about to finish its 5th leg. Watch priceaction near 5.
I'm still bearish, these 2 channels look like an ABC correction for me.
Lowered my target

20 thg 8, 2017

Ghi chú

Wanted to upload this chart with the ABC in it:

21 thg 8, 2017

Ghi chú

Forming a bigger pattern.....
If it breaks, we might have started a new uptrend already. but not yet convinced.
Remember, it already hit my targetbox so the initial correction is in. I was looking if it can go lower.