hedgewithcrypto
Short

Bearflag on Etherium Classic

BITFINEX:ETCUSD   Ethereum Classic / U.S. Dollar
Looking at the hIgher timeframe on Etherium Classic, we can see a BEAR FLAG is starting to form.

I'm looking for a swift clean break to the downside with Target 1 at the 1.272% Fib extension and a 1.618% FIB extension. I will be using a STOP LIMIT order to catch the fall.

This trade does rely on how Bitcoin -1.00% reacts over the weekend of course. But with the downtrend still in play, there is no real reason to be buying - unless your very good at picking tops/bottoms.

Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active: Trade triggered. Always good to reduce risk to half or even break-even
Trade active: TARGET 1 Hit!!!

Holding partial position towards target 2 after retrace.
Trade closed: target reached: Closed remainder of position at BE.

Tidy trade for a nice profit.

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