TradingView
sucmabolsac
Jun 2, 2019 5:19 PM

ETC - beautiful fibonacci sequence - 5th wave almost in Short

Ethereum Classic / U. S. DollarKraken

Description

KRAKEN:ETCUSD

Fibonacci.
Retracements.
Extensions.
Let's give this beautiful chart the respect it deserves!

Target for Wave 5 is at or near $10.
Start planning your short, and ALWAYS use a stop loss!

Comment

Not much left here, in my opinion. Plan your shorts...

Comments
MentalMango
I exited pretty much on point wit this chart. What are your thoughts on re-entry and where? Currently looking to get a small chunk of my $9.50 sells back at $7.50, more at $7.00, and the remaining at $6.50. Would love to hear your input.
sucmabolsac
@CryptoJBiV, I’m glad you found it useful.

I took out a short, and tok some profit off the table when we found some support and bounced off the 5th wave coming down.

If we retrace up near my red box, and I see signs of bearish divergence on the RSI and lower volume, I’ll start adding back into my short position slowly.

Our targets to go long are similar, I think. Laddering is key in my book. I always try to wait to enter until I see decent support / resistance. Though, I still cut myself trying to catch the falling knife sometimes.

Good luck!

MentalMango
@sucmabolsac, appreciate the quick reply friend. Good luck out there.
More