ETH - One More Drop; then it's time to moon Part 2
Updated
So my previous idea was invalidated, sad to say i didn't add on to my existing longs... but importantly i didn't lose any capital!
My alternative count is now in play, i see this as Wave B of Wave 2 (Wave 1 start on March lows). I am now expecting a Wave C to form. Before shorting i will be waiting for confirmation on lower time frames; shorting here is risky for sure. Please note that Y wave of (B) may not yet be over yet, continuation may lead to £218 before reversing.
If we see price start to decline;
T1 £185.52
T2 £169.16
Hopefully this plays out, if not there is a more bullish count that can be argued here but this is now my primary count. Longer term swing targets remain unchanged.
My alternative count is now in play, i see this as Wave B of Wave 2 (Wave 1 start on March lows). I am now expecting a Wave C to form. Before shorting i will be waiting for confirmation on lower time frames; shorting here is risky for sure. Please note that Y wave of (B) may not yet be over yet, continuation may lead to £218 before reversing.
If we see price start to decline;
T1 £185.52
T2 £169.16
Hopefully this plays out, if not there is a more bullish count that can be argued here but this is now my primary count. Longer term swing targets remain unchanged.
Trade closed manually
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