Short term trading idea: Ethereum Classic
Hello crypto traders,
Currently the cryptomarket seems to trend sideways. It's pretty hard to trade a market with leverage when there isn't any form of volatility so we will do something different today. Our eye fell on ETC while we were scanning the market. The market is currently in a corrective ABC bounce. Although there are some indications that we finished that bounce, we still think that we will have one more push higher to the 4,45 - 4,51 zone.
We entered a position @ 4,3193 and placed a stop just beneath 4,2871. A fourth wave can't retrace below the first wave so a move beneath that level would invalidate the count. There isn't much room for error in this trade but that's ok. We actually love these setups! We are risking 0,75% to gain 3,10%. That are pretty good odds if you ask us!
Happy trading!
Currently the cryptomarket seems to trend sideways. It's pretty hard to trade a market with leverage when there isn't any form of volatility so we will do something different today. Our eye fell on ETC while we were scanning the market. The market is currently in a corrective ABC bounce. Although there are some indications that we finished that bounce, we still think that we will have one more push higher to the 4,45 - 4,51 zone.
We entered a position @ 4,3193 and placed a stop just beneath 4,2871. A fourth wave can't retrace below the first wave so a move beneath that level would invalidate the count. There isn't much room for error in this trade but that's ok. We actually love these setups! We are risking 0,75% to gain 3,10%. That are pretty good odds if you ask us!
Happy trading!
Comment:
Stoploss got hit. Well that can happen in trading. We search for the best setups possible so we lost only a tiny fraction of our portfolio!