We like the direction of ETHUSD on the daily chart. Its pulled back to its 200ema and bounced and has now broken the 50ema, pulled back and bounced there. For those that prefer the safety of the Daily Chart there is a nice trade setting up for end of day today. I will post it as an update in here later.
We are focused on the Hourly chart where price has bounced off the 50EMA ( The Red Line) and 20 EMA (The Blue Line). We will buy straight in if price is still above both when this trade posts. Please remember that Live entries with tight stops is an aggressive buy. However, high risk high reward way to trade.
This trade has an 18% profit potential with a risk of 2%
I welcome new members to follow dollarsandsenses for more profitable trade ideas!
Daily Quote
"In investing, what is comfortable is rarely profitable." - Robert Arnott At times, you will have to step out of your comfort zone to realize significant gains. Know the boundaries of your comfort zone and practice stepping out of it in small doses. As much as you need to know the market, you need to know yourself too. Can you handle staying in when everyone else is jumping ship? Or getting out during the biggest rally of the century? There's no room for pride in this kind of self-analysis. The best investment strategy can turn into the worst if you don't have the stomach to see it through.
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Price is pushing up around entry again at the moment, if you want to lighten part of your position its an okay thing to do. Volume is down and Selling hours are higher then buying hours. I am still happy with the trade and will sit it out
I've been following you for a week or so and see the benefits of your guidance. I'd love to learn what you know and see why you trade the way that you do. That being said, it appears that a head and shoulders is completing on the four hour charts. Is this the play or am I missing something?