Ethereum (Update)

AaronHynninen Updated   
Update: Change to ETHAUD symbol.

Previous: These are my current thoughts on ETHAUD.

Alternatively, you can hold until 14000 - 23000 at 940/980 (1300% - 2200% return).

This is based on the alignment of trendlines , lower lows, consistent pullbacks, potential retracements, fibonacci levels, and market conditions.

If market conditions change, then adjusting previously held beliefs is important.

This publication is for reflection on the accuracy of ideas (price/dates).

Update: The ETHUSD symbol glitched in the previous chart.

I've also made a few slight adjustments for accuracy.

The 42.5% only applies if purchased at 1400aud,
Percentage gain is ~38% from 1450aud.
The top trendline should have started @ $3,790 on 03 Jun 21,
Instead of the current position @ $5,300 on 10 May 21.

As you can see, there is more sideways movement occuring.
However, this is in-fact great news for traders, as it means the sell position will be higher upon the rebound from 1400-1450.
Let's see how things progress over the next few weeks.
Let's concentrate on the 1st retracement/rebound
It looks like our bounce has occurred, but at the 2K level. Nice profit for those who caught it!
Watching closely for the next retracement & re-thinking my approach.
Trade closed manually


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