Long

Possible 20% gain on ETH

Updated

ETH has been bouncing off of 780 long term support, and fell through long-term growth support. If it hold support at 780, new resistance will be previous growth support and should trade under that. Possible 20% gain.

Note

Just bounced off 780, however this is a bear market. Let's see if it stays above it.

Trade active

Heavy bounce, up to 815 now. Trade is active!

Trade closed manually

I'm seeing some weakness here, closed this trade. I'm waiting to see if it has some more bullish momentum.

Trade active

I've been watching ETH the last few hours, and there is indeed some bullish momentum, so I've reopened this trade. Let's see this roll.

Trade closed: stop reached

Oops, forgot to post my stop loss in my original idea. Stop loss (775) triggered. Seems like I was right on my second intuition to close this trade. Market still bearish!

Note

I made a mistake not buying directly at 780 and then taking partial profits at 10% gain (858). If I did that with my original stop loss of 775, I would have been able to let things ride while still making about a 5% gain. So even though the idea still wouldn’t have been successful, I’d have gains on the books from smart trading methodologies. Lesson learned!

Note

Next level of support looks to be around 630-650, so ETH may slide a bit. Going to the sidelines to see how things pan out.

Trade active

Wow, went as low as 617. Tremendous buying, I tried to get in quick and managed to get in at 660. let's see where it goes from here.

Trade closed manually

Closed at 717. Bearish momentum continues! This was a nice scalping play today though.

markoshust

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