Updated

ETHUSD near term Support Resistance: Ethereum retrace watch 1

Quick plot to map some of the nearby Support and Resistance zones.
This is a followup to my Bigger Picture Plan that called for 33% surge.
As price action progresses, I will update this Idea or post a new one.

During the exciting rally, many of us were trading live in TV chat.
Some of us snagged a few scalps for 2-3% gains in 2-3 minutes each!
Some of us made longer term strategic entries with confidence and low risk.

For example, during the climactic peak, some of us were already planning ahead.
Below are links from the TV chat archive showing the steps and methodology I used.
Unlike many other web chats, mods like me keep TV clean and useful, not spammy.

To get an idea of my methods used for the above plot, click these links in order:
tradingview.com/chat/m/81ae95b6-c481-4cdb-b1d7-6ccdb49b6bed/
tradingview.com/chat/m/d90cc54c-2e66-40d9-92e1-e5f390d68319/
tradingview.com/chat/m/ac621d3e-2799-42c3-972c-18863c0eae05/ -
tradingview.com/chat/m/5d5b6952-4d35-4700-940b-d0c63a8b6664/
tradingview.com/chat/m/de95e4f5-67a5-42e5-9d0b-47cb14916db5/
tradingview.com/chat/m/b6dd741a-a4a1-485a-a6a6-4572a98b8405/

Some authors want you to follow them elsewhere for updates.
Why? Because they want you to pay them for something, right?
TV chat is free, closely supervised, and full of great traders.

YES, I am shilling TV and its chat.
NO, I do not get paid to do shill TV.

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Note

Looking good thus far

could not quite reach escape velocity to leave that purple high tf fib behind, but now looks to sitting on launch pad fueling up.

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Note

Of course, there came the FUD, timed perfectly at the top (NY court orders Tether not to load Finex any more funds) and started the inevitable retrace we all knew was coming

Still holding in "Strong Bull" territory, but I am prepared for another leg down to the "Reservedly Bullish" zone. Historicaly, FUD that is released at tops comes in 3 rounds or at least 2 events. So watching for next such event to knock prices down another notch. Or maybe not, that is fine too. I was selling as we approached and peaked above resistance, and placing limit buys below after each sale. Now set so that if drops to 216/219, I will have bought back all my coins, and still orders left in the 200.xx zone. So if it drops all the way down to 200, I will then have 'profit' coins to show for it. Thus my "HODLer Strategy". Sell as price goes up, put that money back into buy orders lower. Thus whether the price is going up or down, no stress. I am either gaining in Fiat to buy more coins later, or I am gain in coins which is of course the ultimate and ONLY goal for me :)

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Note

Interesting tidbit I found while measuring the retrace:

two reasons (Impules) of the drop and their subsequent Ripples. Notice the resonance tightness towards the bottom. Will be watching, but red Band 9 should be strong support.

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

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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.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

ETHUSD break out into Wide Open Space: Ether 33% jump launched ?

by EuroMotif