ETC, a heavy long term resistance level, inside a wedge

ETC is also offering a good short opportunity again, it had a good rally in the beginning of April, but lately it has been slowing down and making one bearish wedge after the other. Good thing is, the last wedge it made it did not reach it's target which is a good sign. But since it has not been able to get above that long term resistance area around 22/24.

That's why this offers a good short opportunity with targets around 20.5 and 18. I would use a stop around 24.50, because the market is still strong, but i think we are around turning point now. If ETC is able to break through that heavy resistance, i won't turn long, i will wait patiently for it to turn back to the 24/23 level and test it as a support before going long.

Comment:

Comment:

I got half in at 23.1, i am waiting for 23,4 to short the rest, or if it drops below the the 22.6

Trade closed: stop reached:

Went through the stop and that resistance area