theCrypster

ETC Possibly Trending Upward

Long
KRAKEN:ETCUSD   Ethereum Classic / U.S. Dollar
Looks like ETC might be trending in an upward channel heading to $7 - $7.30. That's about a 5% gain in what could be about 20-30 hours. Not bad, right?

We'd keep your stops tight on this and follow it up with a trailing stop under the bottom edge of that upward channel, with a Take Profit *somewhere* in the horizontal channel.

We'd wait till the price is comfortably in the channel, move your stop up to $7, and let it run. There's no point in actually taking profits and then watching the price reach $10, likewise it's heart-breaking watching a 5% profit turn into a 5% loss. Money management is possibly the most important factor when trading, learn it, use it, refine it.

Good Luck & Happy Trading!
theCrypster
Comment: If this stays in the channel we should be seeing a burst upwards within the next couple of hours! Stay Tuned!

A break out of the channel to the downside could see a rather large drop back to $6.30!

But let's aim for >$7.00 (!)

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