ETCUSD - Risky play: >70 RSI, top of downtrend, but x2 flag?!
Super short term trade! Would not recommend. Mainly doing this for future documentation.
Coins that are being bought for a fundamental reason (see $ICX, $VEN, $NEO) are able to do what other coins can't, and that is hit 80 RSI with ridiculous breakout continuation patterns. The fundamental reason for ETC is the airdrop (and the fact that it has one of the highest traded volumes this past week lol)
I think ETC will correct once more for the flag formation and and once the long orders eat it up the price will breakout once more as everyone else FOMOs in.
As of writing, my long is in the red. I'd said bull flag failure is pegged right at $35.00. Because of that, I will ladder my stop losses and hope my limit orders hit at $36 and $37.
Coins that are being bought for a fundamental reason (see $ICX, $VEN, $NEO) are able to do what other coins can't, and that is hit 80 RSI with ridiculous breakout continuation patterns. The fundamental reason for ETC is the airdrop (and the fact that it has one of the highest traded volumes this past week lol)
I think ETC will correct once more for the flag formation and and once the long orders eat it up the price will breakout once more as everyone else FOMOs in.
As of writing, my long is in the red. I'd said bull flag failure is pegged right at $35.00. Because of that, I will ladder my stop losses and hope my limit orders hit at $36 and $37.
Trade closed manually:
Can't be too greedy!
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)