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Market Geometry

Advise CautionAs we all know, ETH has had an extremely bullish over the last month with very little retracement. However based off TA, it appears that ETH may have hit its' "short term" top. I say this because a bearish wedge has formed at the top, and the RSI indicator is showing signs of divergence. This could mean that at least somewhat of a correction is likely. I say somewhat because if you look at my previous ETH chart, ETH has shown signs of weakness in the past yet it has pushed right through. However, IF ETH breaks the bottom of the current wedge, I plan to short for a quick scalp none the less. My first target would be the top of the Retracement Zone where I would likely take profit. From there I would again wait for another signal, and a break in that level to short again, placing us into the "Retracement Zone." This zone would not indicate a bear market at all, it would only be a healthy, and I believe, much needed correction for ETH. The market will likely find a lot of support in the zone. The lower price would likely attract new investors, which could eventually lead us to new highs. IF (big IF) we would fall into the Reversal Zone, I would close all long term investments. This would be a very dangerous move on ETH's behalf, as it would likely entice panic throughout the market. I do not expect this to happen at all, just informing you all of the possibilities. Summary: Even though the market remains extremely Bullish, it is still due for a healthy correction. Therefore, IF ETH starts a retracement, I suspect it to be minor with a final target no lower than $355; until noted otherwise. IF ETH fails to break the wedge, and the market remains full Bull, we will likely test the previous high, along side the top trendline. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Short
by oh92
13
SandP 500 E-Mini Futures D CME Updated 8/31/2017Price has risen after hitting the sliding parallel on the action reaction set and has broken through the 2450 resistance area. look to see if price will drop back below from here, or continue to rise up to the 2480 area to try to test resistance up there. We are still in a sideways up move from the looks of it until we break hard the 2420 and 2400 levels to the downside. When we do that we could see moves lower especially if we break the 2400 area. To the upside following the channel, if we break 2480 look to the top of the sideways upward action reaction set to act as resistance.
CME_MINI:ES1!
by eaglestar