ETHUSD confirms a reversal on H Chart, lets get in and make $$$$
Updated
ETHUSD H Coinbase
ETHUSD brings clarity and a Trade
ETHUSD has channelled down and has finally put in a double bottom. Its then put in a Higher high and pulled back to support at 827.18 (The Orange line) and then bounced up. This is a classic ABC pattern, we have Advanced through the level, Pulled Back to the level, and advanced up again.
For the entry we need the current bar to close above the 50EMA. If it does we will buy the top of the bar and put a stop loss below the previous bar.
Targets are just before the Blue lines at 872.62 and 896.18
To make Dollars your decisions need to make senses: It’s a messy market, keep your risk low.
ETHUSD brings clarity and a Trade
ETHUSD has channelled down and has finally put in a double bottom. Its then put in a Higher high and pulled back to support at 827.18 (The Orange line) and then bounced up. This is a classic ABC pattern, we have Advanced through the level, Pulled Back to the level, and advanced up again.
For the entry we need the current bar to close above the 50EMA. If it does we will buy the top of the bar and put a stop loss below the previous bar.
Targets are just before the Blue lines at 872.62 and 896.18
To make Dollars your decisions need to make senses: It’s a messy market, keep your risk low.
Note
Lets BANK some profits...Dollars and Senses makes you dollars and centsYeap, the rest are still talking about it and we gave you the entry. Its okay to lighten your position here in advance of target 1, we are at previous lows and we do have a tough market. Lets bank some profits, we love banking profits especially on tough days
Note
Profits banked on ETHUSDWe have reached our first target on ETH/USD and well done on buying this thing, when everyone else was rubbishing. Price is approaching the 200EMA on H, and 50 EMA on the
H Charts, so expect some consolidation around these levels for a while now. I will check in on the trade in a couple of hours and update.Its unlikely we will get there before im back but if so don't close the whole thing at Target 2. I will come back and help with targets.
Two great trades today, well done to those that got them.
Whats the point of the Analysis with out providing the trades, Dollars and Senses gives you both so you can bank the Dollars and cents.
Note
We have pulled back to 843, and i would love to buy at this levelHowever i will have to wait . I would like to use pullbacks in this area as buying opportunities but will sit this one out due to the decisive nature of the pullback bar. (arrow above). Notice how its a long bar, with a big body and closes close to the bottom of the bar. Its quite a strong bearish signal and suggests the pullback may not be over.
Its a nice level we have pulled back to being a confluence of the 50 EMA, the 20 EMA and the 38.2 fib retracement of the last move.
Still for now i am on the sidelines watching again.
Note
OUR ANALYSIS PROVES RIGHT AGAINSo our decision not to trade last update was confirmed by the continued move down. If i had been in front of my charts latter as we came ti and bounced away from the 827.18 level, and 61.8% Fib retracement (Black Arrow under entry bar) . If you got this entry with out me then good on you my follower, this is the point of the posts, making you not just a follower but a trader.
I would like one more Entry before BTC goes back to test the channel top and ll positions should be lightened.
I need a simple ABC Pattern (Black Arrows on my chart). I need an Advance through levels to a new high, A pull Back to support (Probably the 200EMA (Green line) or 872.00 Horizontal region (Or better both), Then a bounce and price to advance up again. If i get it i will trade and will advise levels. But most of my position will close around 900 and BTC approaching the main descending Channel.
I know this analysis has some similarities to the BTC chart. I am sorry but they are trading very similarily.
Note
We are back testing our 828 level, a close below this on meaningful time frame would be very Bearish. ETHUSD has stood up pretty well, and i will be looking for a buy opportunity off a level in the next few days.Note
I am currently looking at the ABC entry LONG off the 200EMA on the H Chart. Update to followNote
Entry BUY Now around 865.00
SL 856.00
Targets just before my blue lines at 895, 910, 947
Trade active
AnalysisYou can see on the chart that price has rallied up nicely and broken the 200EMA on the H chart, and has now pulled back and tested the level from above. WE have got a decisive Buying bar and i am ready to go.
Trade details in comment above
Note
More profits banked, and congratulations to those who stayed in the trade and waited for price to get target. We have now banked our first profits and are looking for more growth to our next.
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