ETH/BTC textbook H + S

POLONIEX:ETHBTC   Ethereum / Bitcoin
414 0 10
8 months ago
I need not get into the fundamentals and everything going on with ETH, if you are unaware you are not following lol.

Look at the volume:

"Volume: As the Head and Shoulders pattern unfolds, volume plays an important role in confirmation. Volume can be measured as an indicator (OBV, Chaikin Money Flow ) or simply by analyzing volume levels. Ideally, but not always, volume during the advance of the left shoulder should be higher than during the advance of the head. This decrease in volume and the new high of the head, together, serve as a warning sign. The next warning sign comes when volume increases on the decline from the peak of the head. Final confirmation comes when volume further increases during the decline of the right shoulder."
8 months ago
Comment: fyi, I don't use manual stops, I like to use my judgement and wait for a close above stop on higher time frames if I feel necessary, in this case did not close yet.
8 months ago
Comment: *I use manual stops
8 months ago
Comment: Any lasting and convincing action above this trendline I will close:
8 months ago
Comment: still open
8 months ago
Comment: added more. 1d dripping.
7 months ago
Comment: Should pick up momentum when this breaks:
7 months ago
Comment: Looking good, new stop losses, for 1 trade-a convincing break above the trendline, for the other, can be more risky--convincing break above the red box:
7 months ago
Trade closed: target reached
7 months ago
Trade active: New trade, looks like the up move or inverse H + S failed, nice downside if so and good R/R:
7 months ago
Comment: Above stop, still keeping it open but cautiously and keeping an eye on it, reason being is that the combined market of ethc + eth is actually up prefork, IMO this will not last and one will fall. Doesn't necessarily mean it will be eth but for now that is my assumption.
7 months ago
Comment: risky move but adding more here at .019, considering the potential target--the extra risk is justified to me and it seems like the up move has failed.
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