ETHEUR: DAO Hack and Crowdsale key levels
Updated
The DAO key levels are acting as a guiding light in the land of ETH. It seems the smart money likes to make buyers drown before sending ETH back up. The average time they can hold their breath 'under water' is 5 bars. Let's see if that's the case this time. I'm holding longs and expecting another test of the resistance up next.
For this type of instrument, stops are problematic, and it's simply wiser to adjust size based on the average true range value of your trading timeframe.
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Cheers!
Ivan Labrie
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We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
For this type of instrument, stops are problematic, and it's simply wiser to adjust size based on the average true range value of your trading timeframe.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Note
Back above the key level after 4-5 days as expected. I went long, and holding now. Looking for a longer term position off this rally from the lows.Note
I trailed my long stop to where the key level sits, it should move straight up, else I don't want to hold longs.Trade active
We can enter long and risk one average range down.Note
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