I agree for the C&H formation but not with your price targets. Also I'd add that your resistance line at 1.4610 isn't really a line but an area that goes from 1.4 to 1.461.
If you want to make it a C&H play, your first price target should be at same distance to the green line than the same line is to the cup bottom which measures $0.57. Therefore you have a first target around 1.71 but there's also this resistance area in the way, so it may take some time to get there.
To conclude, I'm not a big fan of round numbers to set target prices, they tend to fail miserably as sellers usually show up right before them.
Besides all that, it's a possible multiple-bagger in play. If you bought it at the bottom, good for you. :)
Will share my analysis on the daily later today. Thanks for sharing your thoughts anyway.
yes i agree that my target points are not as accurate as they should be . Honestly the main reason is because its so hard to predict what ETP will do.
It can just shoot up 2-3 dollars on one go and break through all sort of resistances.
It wouldnt surprise me at all if we wake up tomorrow and etp is at 2 usd without any resistance. Its one of those wild coins thats why i didint put much emphasis on the target prices
having said that the numbers that you said are probably more accurate.
and no unfortunately i entered the market at 1.12 and been holding it while other coins have gone up so it seems like its taking forever. but i will keep holding till it hits 2 usd cause i believe it will.
adawhamb
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@SaeidKarimzadeh, I also focused on this coin because I also thought this setup could multiply my bet in short term. Honestly, I also front-ran the trade around $1.1 but managed with a tight stop.
ETP showed some love this morning. If we can clear $1.4, we would have a very nice support to protect our gains. Good luck
If you want to make it a C&H play, your first price target should be at same distance to the green line than the same line is to the cup bottom which measures $0.57. Therefore you have a first target around 1.71 but there's also this resistance area in the way, so it may take some time to get there.
To conclude, I'm not a big fan of round numbers to set target prices, they tend to fail miserably as sellers usually show up right before them.
Besides all that, it's a possible multiple-bagger in play. If you bought it at the bottom, good for you. :)
Will share my analysis on the daily later today. Thanks for sharing your thoughts anyway.