ETHUSD following Wychoff Distribution
Been watching ETHUSD just before the drop to $100. That drop marked the Spring in Phase C of the Wychoff distribution for me. The pump back to $108 - $110 confirmed the pattern by forming the LPS in Phase D of the Wychoff distribution. I will look for longs after a small retrace preferably to around lower $105. Would like to see:
- Small retrace to the 50 MA around our entry (Orange)
- Retest $110 and find support on the 128 MA (Red)
- Target $115 for the 200 MA (Purple)
Entry: $105 - $106
Target 1: $110
Target 2: $150
Stoploss: $102.9
Watch the fibonacci levels! (Green)
Prices are taken from Bitstamp, adjust accordingly on your exchange.
- Small retrace to the 50 MA around our entry (Orange)
- Retest $110 and find support on the 128 MA (Red)
- Target $115 for the 200 MA (Purple)
Entry: $105 - $106
Target 1: $110
Target 2: $150
Stoploss: $102.9
Watch the fibonacci levels! (Green)
Prices are taken from Bitstamp, adjust accordingly on your exchange.
Trade closed: target reached
Well yeah, wtf lmao
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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.