was just going through charts and updating, and noticed ETH is in one of my favourite patterns to trade! Reason being it is not only supported by the PARABOLA, the cup pattern is usually a good indicator of higher prices to come!
As I explained previously in USDT chart, which has so far only had a fake out and dropped back into the handle for support.
ETH pattern shows that the current movement should achieve just under the $500 mark and with some added FOMO push us over the line!
Currently I think ETH will have a minor drop here to retest the parabola before taking off.
The CUP AND HANDLE is one of the easiest patterns to recognize and usually quite reliable. Remember no trade goes the way you want it to go 100% of the time - and that is why MONEY MANAGEMENT is essential to make money over a period of time. If you are winning an average of 50% of your trades with strict money management, you are going to win the marathon!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
we have strong cross support here in 3 directions (shown on my TV chart above) and the waves are valid that this is ONLY the 4th wave retrace - same as BTC
a 3rd wave usually retraces to 0.5 fib....
the wave 1 here is valid as the subwaves are correct. Wave 3 doesn't need to be the longest - but it cannot be the shortest