ETHCAD in Triangle Wave, Entry near 320 CAD
Hello Traders,
In the early half of 2017, a bullish 5 Wave took ETH to all-time high of 587 CAD on 2017-06-12.
Since then, ETHCAD is trapped inside a triangle consolidation. This type of consolidation is usually a continuation pattern, so we may get a new high in 3~6 month.
As the triangle narrows, the next bottom for ETH would be near 320~290 CAD. It will be substantially higher than 250 CAD on 2017-09-15, but this is what you pay for more certainty.
PS. I do analysis in ETHCAD because (1) I trade in CAD $ (2) USD $ has been volatile lately, ETHCAD gives a cleaner picture.
If you like my analysis, please mouse over "larry47" above and click FOLLOW.
Happy Trading
-- Larry47
In the early half of 2017, a bullish 5 Wave took ETH to all-time high of 587 CAD on 2017-06-12.
Since then, ETHCAD is trapped inside a triangle consolidation. This type of consolidation is usually a continuation pattern, so we may get a new high in 3~6 month.
As the triangle narrows, the next bottom for ETH would be near 320~290 CAD. It will be substantially higher than 250 CAD on 2017-09-15, but this is what you pay for more certainty.
PS. I do analysis in ETHCAD because (1) I trade in CAD $ (2) USD $ has been volatile lately, ETHCAD gives a cleaner picture.
If you like my analysis, please mouse over "larry47" above and click FOLLOW.
Happy Trading
-- Larry47
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