ETH BTC / NEO BTC - Clear Setups
ETHBTC and NEOBTC have taken a beating with the rest of the market. Both have dropped to support at the fib .618 level. Both are holding well at this support.
ETH - I'm long with buys in the 0.062 to 0.06375 range. If support at 0.062 is broken, we should see sub .06 ETHBTC. All stop losses are based on this assertion/assumption. Support breaks, i'm out. Depending on circumstances at the time, I may enter a support position if stop loss conditions are met. For now, I'm long. Where to close? Resistance is 0.073. If we see upward movement to 0.073, then I will have a close eye on the price action and possible breach of 0.073. If we go further, closing above 0.073, then we have an Ichimoku edge-to-edge play on the 1-day.
TAKE: Long ETHBTC. Stop Loss or exit based on current support at 0.062. Exit at resistance (0.073), but a close eye on potential edge-to-edge.
NEO - I was bullish on NEO (still am long-term) when we saw it hold at 50% support prior to the most recent downturn. As indicated in my bullish forecasts, if support broke, NEO would head down to next support (.618) on NEOBTC and we would see completion of an edge-to-edge play on NEOETH. Well, support broke, i entered a short on NEOBTC and buy orders on NEOETH. I closed my short at .0073 and entered long within 12 hours.
TAKE: Long NEOBTC. Similar situation to that of ETH described above. Support is at 0.0068 (.618 fib). If we break, we go lower. If, as or when that happens, I'll close longs and reassess. Otherwise, I'm long on NEOBTC. My entry has be close to support. I have been in and out for good profit. If we see a dip in that direction, I'll add to existing position. We have had 3 opportunities to enter thus far. Where to close the long? 0.008 to 0.0082 seems safe. Higher not out of the question.
ETH - I'm long with buys in the 0.062 to 0.06375 range. If support at 0.062 is broken, we should see sub .06 ETHBTC. All stop losses are based on this assertion/assumption. Support breaks, i'm out. Depending on circumstances at the time, I may enter a support position if stop loss conditions are met. For now, I'm long. Where to close? Resistance is 0.073. If we see upward movement to 0.073, then I will have a close eye on the price action and possible breach of 0.073. If we go further, closing above 0.073, then we have an Ichimoku edge-to-edge play on the 1-day.
TAKE: Long ETHBTC. Stop Loss or exit based on current support at 0.062. Exit at resistance (0.073), but a close eye on potential edge-to-edge.
NEO - I was bullish on NEO (still am long-term) when we saw it hold at 50% support prior to the most recent downturn. As indicated in my bullish forecasts, if support broke, NEO would head down to next support (.618) on NEOBTC and we would see completion of an edge-to-edge play on NEOETH. Well, support broke, i entered a short on NEOBTC and buy orders on NEOETH. I closed my short at .0073 and entered long within 12 hours.
TAKE: Long NEOBTC. Similar situation to that of ETH described above. Support is at 0.0068 (.618 fib). If we break, we go lower. If, as or when that happens, I'll close longs and reassess. Otherwise, I'm long on NEOBTC. My entry has be close to support. I have been in and out for good profit. If we see a dip in that direction, I'll add to existing position. We have had 3 opportunities to enter thus far. Where to close the long? 0.008 to 0.0082 seems safe. Higher not out of the question.
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