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Here's the bigger picture hopefully.
I have a long for ETHBTC on Coinbase @ 0.04157732 BTC
Here's a look at the fib levels we will face in the short-to-medium term
Here's a look at the fib levels we will face in the short-to-medium term
Trade closed: target reached:
I missed the dip by early this morning but no big deal. I have a small short open @62.95. There is a shooting star on the hourly. I think 61.12 is a good target.
Currently working on a longer timeframe chart. Will update soon.
Trade active
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My small short from earlier got stopped but who cares I went long again. Entry: $63.39. Current target is 75+.
Trade closed manually:
Closed not too long ago. Godmode gave the sell signal near that last high but i didn't listen. Oh well. Small short now, setting low buy entries to ride back up.
Trade active:
I believe ETH is rode a 12345 EW to that $69.5 high. Now it looks like its following a healthy ABC correction. Opened a short at $66.31. Target is the 0.382 fib level ($60.06), but ill take profits at the .786 ($61.78) and .618 ($61.07) if we get there.
Trade closed manually:
Not entirely sure what ETH wants to do right now. I'd rather long BTC to the top of the current drive.
Trade active:
Did someone say ETH MEGABULL?
Long Entry: $70.82
Target: $79
Will take profits nearing $76-$78 range most likely. Will update soon.
Target: $79
Will take profits nearing $76-$78 range most likely. Will update soon.
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It's gonna bounce off the .618 extension. The time has come.
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I originally made this idea for ETHBTC, but I've been trading ETHUSD so here is a new idea.
I will try to update this ETHBTC idea based on short term movements, while I update the ETHUSD one off longer term movements.
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ETH hit my fibs on the nose and double bottomed. Reversal is happening now to continue uptrend.
Keep your eyes peeled for dirty shakeouts we are nearing the end of wave 3. I am testing a new curve theory as well and it is going great. Here is a look at how its working on the daily.
Basically, those curves are drawn from all the low touch points (including wicks), as well as from all the high touch points. when the price gets close to the curve it is likely to cross over and reverse trend. ETH's curve at this point is nearing the point where it goes straight up. It will cross over I predict around 91.78 based on fibs, and that will be the end of wave 3. It will then retrace until wave 4 completes. I will then be able to narrow the second "curve zone" for more accurate fib predictions. Keep your eyes peeled for updates.
Keep your eyes peeled for dirty shakeouts we are nearing the end of wave 3. I am testing a new curve theory as well and it is going great. Here is a look at how its working on the daily.
Basically, those curves are drawn from all the low touch points (including wicks), as well as from all the high touch points. when the price gets close to the curve it is likely to cross over and reverse trend. ETH's curve at this point is nearing the point where it goes straight up. It will cross over I predict around 91.78 based on fibs, and that will be the end of wave 3. It will then retrace until wave 4 completes. I will then be able to narrow the second "curve zone" for more accurate fib predictions. Keep your eyes peeled for updates.
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Also, please leave your thoughts on this curve theory. It will be very powerful if it works out!
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For anyone interested in how to setup Godmode here is the tutorial. I posted it earlier on this idea but I thought I'd send it again. It is great!
I will be writing a tutorial for my new system very soon so make sure to follow me!
I will be writing a tutorial for my new system very soon so make sure to follow me!
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THIS IS VERY REAL
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TRADE: LONG
TARGET: $80.12
Analysis: The chart posted above is slightly inaccurate. I have made improvements since. This is going to be a first glimpse of the foundation of the new trading system I am building (more info tomorrow on that).
In the first eth bull flag chart i had drawn I saw a possible flag but did not draw as accurately as possible. Thanks to @jsburgos, who questioned why I drew the bottom of the flag breakout point so low, I noticed that the drawn price did not line up with the fibonacci arcs crossing point that I drew. I then realized it is actually making a pennant flag. The breakout point is 4-6 days. Remember this timeframe, as I have another important idea coming out soon.
Essentially, one main part of my new system build's foundation are fibonacci arcs. These things are very powerful and I think they are undervalued by the trading view community, as I never really see charts with them drawn. The price should theoretically rise when the curve is moving upward, based on exponential growth, and fall when the curve is moving downward, but not throughout the whole "arc zone", just at the critical buy and sell points. I have an idea to make this an indicator but I have no experience with pinescript. So if anyone is interested in helping me create this indicator please message me! I have an idea for how I would write the indicator if I knew the syntax. This can be a very powerful indicator in my opinion and I would really like to use it for my system so I don't have to draw arcs all the time.
I have been charting Ethereum for over a week straight almost nonstop (not joking). I have been building a new system that will be introduced sometime soon, when finished. Follow me on twitter @jordan_london for more updates in case my TV account gets suspended. Anil Mangil got suspended for pretty much no reason. I want to have some sort of outlet to post ideas at all times, as I want everyone in this trading community to enjoy profits. Teamwork will make us all very rich, remember that.
TARGET: $80.12
Analysis: The chart posted above is slightly inaccurate. I have made improvements since. This is going to be a first glimpse of the foundation of the new trading system I am building (more info tomorrow on that).
In the first eth bull flag chart i had drawn I saw a possible flag but did not draw as accurately as possible. Thanks to @jsburgos, who questioned why I drew the bottom of the flag breakout point so low, I noticed that the drawn price did not line up with the fibonacci arcs crossing point that I drew. I then realized it is actually making a pennant flag. The breakout point is 4-6 days. Remember this timeframe, as I have another important idea coming out soon.
Essentially, one main part of my new system build's foundation are fibonacci arcs. These things are very powerful and I think they are undervalued by the trading view community, as I never really see charts with them drawn. The price should theoretically rise when the curve is moving upward, based on exponential growth, and fall when the curve is moving downward, but not throughout the whole "arc zone", just at the critical buy and sell points. I have an idea to make this an indicator but I have no experience with pinescript. So if anyone is interested in helping me create this indicator please message me! I have an idea for how I would write the indicator if I knew the syntax. This can be a very powerful indicator in my opinion and I would really like to use it for my system so I don't have to draw arcs all the time.
I have been charting Ethereum for over a week straight almost nonstop (not joking). I have been building a new system that will be introduced sometime soon, when finished. Follow me on twitter @jordan_london for more updates in case my TV account gets suspended. Anil Mangil got suspended for pretty much no reason. I want to have some sort of outlet to post ideas at all times, as I want everyone in this trading community to enjoy profits. Teamwork will make us all very rich, remember that.
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That long target I noted above is just toward the top of the pennant, where I think it is going next. I am going to swing trade the pennant most likely. I will update more accurate predictions based on fibonacci swings tomorrow.
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I charted that a couple hours ago. Trade the swings with me.
Long from point 5 for sure. I will give confirmation when we get closer.
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The moment of truth is coming. Short eth if you want your balls to shrivel up, long eth if you want them to drop for the next decade. Do you want to be rich?
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ETH BOTTOM AT 47.4ish! I closed my short and went long. We are going to the top of the pennant guys.
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ETHEREUM SUBWAVES FORMED A SMALLER PENNANT!
Next target 80.2, then fall to 79.3.
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Going short for a bit here.
ETH 12345 subwave was bound to fall out of the inner pennant. It might do an ABC correction to the bottom of the outer pennant.
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HUGE CUP AND HANDLE FORMATION!
This might hurt your eyes, but it is necessary. Look at the golden fib ratios (.618s). Lines up perfectly with my circle points.
I believe my system is telling me price wants to go for the golden fib at 74. It might even go for one of those purple circles drawn to form an even bigger cup and handle. I have not charted this nearly enough haha. I will do a new chart from beginning to end soon and will make a youtube video timelapse of it. Also, look out for my tutorial on how I have been using fibs. I will upload when I get a chance.
I get the feeling price might do something like this..
Elliots line up with my arcs to form a big cup and handle. End of the 2nd impulse wave at around 84.5 I believe. 3rd wave should retrace to about 57ish im guessing.
I have another good idea coming out in the next day or so. Follow me so you can see when it is out. It will be very important for you to see.
This might hurt your eyes, but it is necessary. Look at the golden fib ratios (.618s). Lines up perfectly with my circle points.
I get the feeling price might do something like this..
I have another good idea coming out in the next day or so. Follow me so you can see when it is out. It will be very important for you to see.
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TOP?
I have not been charting Ethereum on smaller timeframes too much, as I have been very busy, but I am pretty sure based on my fib arcs that this is top for now. My system confirms that as well. Can't see ETH going higher than 85ish for a while. Those white circles where my fib arcs cross tend to signify that the arcs are strong. Price wont go past the higher green arc where the white circle is in my opinion.
I have not been charting Ethereum on smaller timeframes too much, as I have been very busy, but I am pretty sure based on my fib arcs that this is top for now. My system confirms that as well. Can't see ETH going higher than 85ish for a while. Those white circles where my fib arcs cross tend to signify that the arcs are strong. Price wont go past the higher green arc where the white circle is in my opinion.
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WOW. Literally right after I updated it wicked up to 84.5. Hit my fib on the nose. If that's not top I'll be kind of upset. That would tell me my system is not working well. Godmode is now overbought on the 4h. I guess I just didn't draw an arc.
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Sorry for these updates guys. I hope no one is making trades simply on my analysis. Remember, I am not a professional. Use my ideas for you own analysis. You should never trade solely on someone else's ideas. I have lost too much money that way.
Like I said, I haven't drawn enough arcs. I have been very busy with other important work. Highest it could go is 93. Earlier today I went short. I am down -11% lol. I definitely did not chart enough. Highest in my opinion that it might go on this run is 93, but my system is telling me it is very overbought. My Litecoin short is nice right now thankfully :D
I am going to have to start adding this disclaimer to every update I guess. I don't want people losing money because of a mistake I may make.
DISCLAIMER: DON'T MAKE ANY TRADES SIMPLY BASED ON MY IDEAS. USE MY IDEAS FOR YOU OWN ANALYSIS. DO NOT BLAME ME FOR A BAD TRADE. YOU CLICKED THE BUTTON.
Like I said, I haven't drawn enough arcs. I have been very busy with other important work. Highest it could go is 93. Earlier today I went short. I am down -11% lol. I definitely did not chart enough. Highest in my opinion that it might go on this run is 93, but my system is telling me it is very overbought. My Litecoin short is nice right now thankfully :D
I am going to have to start adding this disclaimer to every update I guess. I don't want people losing money because of a mistake I may make.
DISCLAIMER: DON'T MAKE ANY TRADES SIMPLY BASED ON MY IDEAS. USE MY IDEAS FOR YOU OWN ANALYSIS. DO NOT BLAME ME FOR A BAD TRADE. YOU CLICKED THE BUTTON.
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Look: imgur.com/a/YqVZA
That last wick up topped at 89.74. I was .05 away from liquidation. God must be on my side. Thank you fibonacci you are a blessing in disguise. Goodnight all.
That last wick up topped at 89.74. I was .05 away from liquidation. God must be on my side. Thank you fibonacci you are a blessing in disguise. Goodnight all.
I've been trying out the Godmode indicator. It is telling me ETH wants more up. So far it works very accurately. If anyone is interested in learning how it works check here:
I am currently learning how to trade Elliot Waves, so that is what I will be using to trade the rest of the channel. If you want a good long term trade, seems like ETH is a good option right now.