Breaking down the 4hr on Ethereum at the moment, we have had some good trades on ETH over the last few weeks and its still giving us the goods.
Wednesday we got a re entry off the 38 with short term area of interest being the bottom of supply at .03724, our algo giving us a warning as volume dropped we exited for a 27% profit take on 10x from our entry, it just wasnt eth's time to punch through so we figured lets take profits and let it have another go.
Now out and waiting for a 38-50% hit again over the next few days laddering in on a lower leverage this time and giving it some more time.
If we do not get another entry off fibs and price starts to breach supply, we will be looking at placing buy stops over .038 once we see some signals of that supply breaking.
The daily is still spitting out some high volatility candles consolidating in this region but volume is on a steady climb which could be an indication we are going to push up soon leading up to this next fork in another week or so.
Wednesday we got a re entry off the 38 with short term area of interest being the bottom of supply at .03724, our algo giving us a warning as volume dropped we exited for a 27% profit take on 10x from our entry, it just wasnt eth's time to punch through so we figured lets take profits and let it have another go.
Now out and waiting for a 38-50% hit again over the next few days laddering in on a lower leverage this time and giving it some more time.
If we do not get another entry off fibs and price starts to breach supply, we will be looking at placing buy stops over .038 once we see some signals of that supply breaking.
The daily is still spitting out some high volatility candles consolidating in this region but volume is on a steady climb which could be an indication we are going to push up soon leading up to this next fork in another week or so.
Trade active:
another slow climb to the bottom off supply and finding another rejection with dropping volume.
failed to make a higher high so im thinking we may get our entrys back down at the 50-618 now.
time to sit on our hands and wait for the trade to come to us :)
failed to make a higher high so im thinking we may get our entrys back down at the 50-618 now.
time to sit on our hands and wait for the trade to come to us :)
Comment:
Trade active:
playing out well and on its way to final short term target for now