Time to take profit on shorts and pivot.
Some time has elapsed since last posting and we are in the beginning of September.
Now, as traders we are not married to ideas or charts - when factors change, so should we.
Now we can see the downward trend on the high time frame is solidly in control and we will be seeing further lower hit BUT lets pay attention to how the lower TF and the 12H for example is showing signs of support holding.
WHAT NOW
I am closing the shorts from 21.5k and above now - congrats on the epic profits.
Opening low risk longs @20k (sorry price moved whilst posting)
Initial targets 21k but 22.5-23k is the ultimate target area.
*the orange circle highlights the downward pressure in the 2D and how it will take alot of time/price action upward to turn the ship around at this point. ie not likely at all. but a quick 2-3k pump to clear shorts is likely. *
And we need to see price touch 21k area/hold above 20.5 lowest to regain support of this move
Goodluck!
Also remember the 12th of September is coming and we will return to falling.
Now, as traders we are not married to ideas or charts - when factors change, so should we.
Now we can see the downward trend on the high time frame is solidly in control and we will be seeing further lower hit BUT lets pay attention to how the lower TF and the 12H for example is showing signs of support holding.
WHAT NOW
I am closing the shorts from 21.5k and above now - congrats on the epic profits.
Opening low risk longs @20k (sorry price moved whilst posting)
Initial targets 21k but 22.5-23k is the ultimate target area.
*the orange circle highlights the downward pressure in the 2D and how it will take alot of time/price action upward to turn the ship around at this point. ie not likely at all. but a quick 2-3k pump to clear shorts is likely. *
And we need to see price touch 21k area/hold above 20.5 lowest to regain support of this move
Goodluck!
Also remember the 12th of September is coming and we will return to falling.
Comment:
Also still a chance for price to touch the 19.2k area before heading upward so stay safe on leverage.
Comment:
I am also long ETH from 1525 - it has likely more upside % return for longs.
