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sehinz
Dec 17, 2016 11:34 AM

ETHEUR : from a bubble to the mean Short

Ethereum / EuroKraken

Description

ETHEUR is a perfect example of a bursting bubble and - like other bubbles - we can see on this chart that it is attracted by its mean.

2 target areas can be identified from extrem fibonacci retracements :
- the first one is very likely to be reached and price will surely fluctuate nearby (the mean)
- the second one represents a real excess of the market and would provide a great long entry

Trade closed: stop reached

Closed @ 8.0, could not be more wrong :(
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