ETH - Seriously, it's time to buy!
Updated
Good day traders.
Keeping this brief because it's simple.
Week of May 6th 2019, ETH had a 15 MA / 30 MA crossover with positive rising momentum and increased volume.
Back test and you will discover it happened on 03/06/17 when ETH was at $23.39.
If you invested $1000 and sold when indicator crossed-under (May 4th 2018) at $714 your profit be approximately $30000! That's assuming you waited for 15 MA / 30 MA cross-under.
Simple yet effective which is what I like! Love technical analysis but most lead to paralysis.
Add 2 Moving Average indicators - lengths 15 and 30 close
Add Volume - length 20
Add Momentum - length 25
15 MA crossover (from underneath) 30 MA and there is rising momentum with increased volume means time to BUY
Selling is an art but this indicator will cross-under and tell you "you should have sold sooner".
Not financial advise. This is only my opinion that's based on my edge and trading plan. Please do yourself a favor and do your own research! Never, ever risk your hard earned money without due diligence.
It's Saturday and summer so I will be heading to water...pool or lake. Enjoy life our time is limited.
Keeping this brief because it's simple.
Week of May 6th 2019, ETH had a 15 MA / 30 MA crossover with positive rising momentum and increased volume.
Back test and you will discover it happened on 03/06/17 when ETH was at $23.39.
If you invested $1000 and sold when indicator crossed-under (May 4th 2018) at $714 your profit be approximately $30000! That's assuming you waited for 15 MA / 30 MA cross-under.
Simple yet effective which is what I like! Love technical analysis but most lead to paralysis.
Add 2 Moving Average indicators - lengths 15 and 30 close
Add Volume - length 20
Add Momentum - length 25
15 MA crossover (from underneath) 30 MA and there is rising momentum with increased volume means time to BUY
Selling is an art but this indicator will cross-under and tell you "you should have sold sooner".
Not financial advise. This is only my opinion that's based on my edge and trading plan. Please do yourself a favor and do your own research! Never, ever risk your hard earned money without due diligence.
It's Saturday and summer so I will be heading to water...pool or lake. Enjoy life our time is limited.
Note
ETH still looking strong. Resistance at $300 and $320. Will be looking to buy dips (daily).At some point in this move, we will return to the 15 MA and possibly the 30 MA. Make sure your stop loss is well below.
Trade active
Is this an excellent buy opportunity or what? Yesterdays price action saw a drop of 18.47% from Hi to Low with good volume.
It also set the HI/Low for the weekly chart (closes June 3rd) and most of weekly volume (42%)
Weekly opened at $268.23 (key)
Drop hurt in just the right way. Took all my profits from the week. It can be very disheartening when your hard work doesn't pay-off! :(
Hold on now don't give up so quickly. Trading can't be easy or everyone would do it.
Weekly indicator unchanged so I am bullish and will be buying in $235/$246 zone. Below $235 and I pause buying to re-evaluate. Current range of $255 is attractive but already bought here.
Still solid chance we can drop anywhere from $180 - $225. Be prepared and it won't hurt as bad.
Trade active
I hope you enjoyed some time off over the summer months. ETH trade looks great and I continue buying pullbacks. Sold some above $350 on price spike.Weekly chart still looks bullish. This is a time for max patience and position control.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.