34productions

Bullish Bat Pattern BTC/ETC Poloniex

POLONIEX:ETHBTC   Ethereum / Bitcoin
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My thesis is based on the fact that there is from my observations an immediate negative correlation between BTC/USDT and ETH/BTC . BTC has been pumping up for a long while now and an important outside return is expected,, the detph of the draw-down I estimate will be a min of 3% and this turn will make ETH react in the opposite direction similarly. This alongside RSI and Stoch movement.

Targets based ON previous structure, Fib Retrace and ABCD harmonic confluences.

70 percent success rate based on personal historical backtesting results with this instrument thus far.
Apr 20
Comment: If price goes into "d" zone, i will begin the process to buy ETH if my signals line up right.
If I buy then i will aim to sell in the upper target zone, Now depending on what my indicators are saying i will then decide to take half or all my position in profits
More analysis will be needed at that point.
Let's see how this unfolds,,Enjoy
Apr 21
Comment: ok now we are looking at pattern completion in the "d" zone.. signals are lining up for an upward move
Apr 21
Trade active:
Apr 21
Comment: looks like we had a retest, lets see if this set-up, I adjusted targets with a Bullish Gartley pattern update, personally I have no stop-loss because I believe Eth as a good long-term investment, but if my strat demanded one I would place it there,, Cheers
Apr 22
Trade closed: target reached: first target have been reached
Apr 22
Trade active: the trade is NOT closed (error in last update)
Apr 24
Trade closed: target reached: I see we hit target not too long ago,, this was a fun ride!
And now we wait
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