Ethereum (ETH) Double stop hunt. Big move coming. Setup.
Updated
My last call was a long Bitcoin, where I accurately called the exact bottom with the perfect stop loss placement. Now I will be using the same strategy to trade the breakdown on Ethereum if that happens. I am current long Ethereum and in great profit. However, we must be prepared for all scenarios.
View my last calls in the related ideas section or just click on my profile.
As I was posting this, a double stop hunt occurred on Ethereum. This means a large buy forced price hit a stop loss cluster so shorters market bought, and then the group shorts into the pump. Then they push price down so longs market sell, and they close their shorts that way. When there is an established range there is a high chance to make good money. You can do this yourself with a group of investors.
If Ethereum breaks the resistance/support lines on the chart, you can short or long. I personally am long with a stop loss beneath the bear fractal shown on the chart.
I will be shorting once we break support on Finex. Do not look at Bitmex charts as the stop hunt pushed Ethereum to 244 while on Finex it went to 236.
Short:
Close beneath 228
Take Profit:
When bottoming pattern forms.
220 area should be support.
Stop Loss:
Above last few bull fractals on 1hour + timeframe.
Long:
Close above 236
(Ideally we should hit it, have a red candle on the 15, then break resistance.)
Take profit:
When Bitcoin hits 6900.
Stop Loss:
Beneath low of bear fractal.
Thanks for viewing!
I personally am long right now. You can decide what your trades are. I only take trades that give me a very good entry, and right now this current price is not the best price to long. However, if we pump to 240+ you will be in great profit. I do believe that will occur.
View my last calls in the related ideas section or just click on my profile.
As I was posting this, a double stop hunt occurred on Ethereum. This means a large buy forced price hit a stop loss cluster so shorters market bought, and then the group shorts into the pump. Then they push price down so longs market sell, and they close their shorts that way. When there is an established range there is a high chance to make good money. You can do this yourself with a group of investors.
If Ethereum breaks the resistance/support lines on the chart, you can short or long. I personally am long with a stop loss beneath the bear fractal shown on the chart.
I will be shorting once we break support on Finex. Do not look at Bitmex charts as the stop hunt pushed Ethereum to 244 while on Finex it went to 236.
Short:
Close beneath 228
Take Profit:
When bottoming pattern forms.
220 area should be support.
Stop Loss:
Above last few bull fractals on 1hour + timeframe.
Long:
Close above 236
(Ideally we should hit it, have a red candle on the 15, then break resistance.)
Take profit:
When Bitcoin hits 6900.
Stop Loss:
Beneath low of bear fractal.
Thanks for viewing!
I personally am long right now. You can decide what your trades are. I only take trades that give me a very good entry, and right now this current price is not the best price to long. However, if we pump to 240+ you will be in great profit. I do believe that will occur.
Note
Trade is doing good, moving away from the demand zone. Hopefully we break out to the upside soon.Note
Hey guys. On my alt account have I scalped Ethereum twice so far getting me 0.95% and 1.49%.It is simple as 2+2. Just short into support with a stop above the bull fractal and vice versa for long.
I am doing it after the double stop hunt. if I did it before I would have been caught.
Trade active
If you are not long, you should have entered already during the break of the bull fractal as I mentioned.Note
Not a bad entry price currently. You can have your stop below bear fractal.Note
I am still long and will add. There has been moving buy walls to meet supply, something which is always bullish.Note
Ethereum testing support 219. There is a high chance we move lower with the momentum the sellers have right now. The long trade is closed at a loss. Note
If Bitcoin holds here, Ethereum will likely bottomTrade closed manually
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