Buy the rumour, sell the news

POLONIEX:ETHBTC   Ethereum / Bitcoin
ETH bounced from last significant FIB Speed trendline and is now touching the top of the triangle.

A few minutes ago, Coinbase released the news which was leaked two days ago from Google             cache. Visual Studio supports Ethereum             .

,,Buy the rumour, sell the news." Trader Bible, pp. 1

I am going short here. It is a very risky trade with not that high chance for success, but with very nice Risk/Reward.

Entry: 2940 - 2990

1st tgt             2150
2nd tgt             1590 - 61.8% fib retracement

Stop loss - around 3000, might be careful for stoploss hunt.

For more insight on bearish bias, see previous analysis.

Happy trading!
Trade active: Shorted 2940, btc started rising and this is going down
Comment: This risky trade (considering how many fake articles were released) is playing out.

Yesterday we failed to retouch 2800. It's high chance we're not visiting 2800 ever in the future. RSI is still slowly declining, yet it hasn't even entered the oversold area yet.

Today we're gonna break 2700.

Expect more down and some acceleration.

Happy trading!
Comment: Trade is still active, from 2940.

As forecasted, we broke 2700 and witnessed some acceleration.
Prognosis: 2800 will not be revisited.

We're keeping shorts from 2940 on main account. On second account, we try to play the bounces. But, I suggest to stop buying the dips now because we are about to accelerate. Safest option: go short and keep it until target of 2150 is hit. Then decide whether to continue down to 1590.

Happy trading!

P.S. 4 hour Ichimoku is bearish as hell, like ultimate bear mode!
Conversion + price < base line.
Cloud entered, cloud pierced, cloud broke downwards... not to be regained soon imo.
Lagging span < base line.

Trade closed: target reached: Quick update: I am taking profit here. Nice 520 pips.

2940 -> 2420.

It may go lower but it may also bounce here.
Comment: It bounced 1h later to 2580.
Consider yourself lucky if u subscribed to this idea.

I did take a long from 2420 to 2550. Now I shorted 2570, but it's risky and Im on my phone. So, do not expect precisely timed updates like before, but I'll try my best.
Trade closed: target reached: 2530 was my target from this bounce of 2570. Got hit while writing comment. This is too fast so just letting us know I am out of position now.

Happy trading!
Trade active: Taking another short here. From 2570 average.

This time, focus is on 2350 and 21xx targets. Unless btc starts to rally, in which case we might go straight sub-2000.

Can't post chart since I am in hospital and they took my laptop.

Happy trading!
Trade closed: target reached: Short-term bull pennant might be forming. Taking profit here at 252x from short from 2570 and gonna wait how the pennant resolves. Medium and long-term my bias is strongly bearish.
Trade closed: target reached: This trade is finally complete and fulfilled. I closed ALL shorts on all accounts at 1650.

1290 pips trade: short from 2940 to 1650.
60 pips stop-loss.

Risk/Reward 20:1.

Now I am becoming biased towards a long.. I got home after 8 days in hospital without a laptop, so give me time and soon I will publish a chart.
Well done! I hope you are well. Looking forward to seeing the your next trades. Thanks for sharing!
+1 Reply
MarcelV swifteagle
Thank you :)
Excellent trade! i was keeping up you're trading on this one.
+1 Reply
MarcelV rexlomax
Thank you :)
Nice chart, we have good chance for .02150 even .02070
+1 Reply
MarcelV StokyDoky
Thanks! :) We will run against support @ 2352, which is a 38.2% fib ret level and has served as a support two times in the past. This time we should break it without much effort.
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