IvanLabrie
Long

ETHEUR: DAO Hack and Crowdsale key levels

KRAKEN:ETHEUR   ETHEUR
4 months ago
The DAO key levels are acting as a guiding light in the land of ETH. It seems the smart money likes to make buyers drown before sending ETH back up. The average time they can hold their breath 'under water' is 5 bars. Let's see if that's the case this time. I'm holding longs and expecting another test of the resistance up next.
For this type of instrument, stops are problematic, and it's simply wiser to adjust size based on the average true range value of your trading timeframe.

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Ivan Labrie

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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance             on such information.
4 months ago
Comment: Back above the key level after 4-5 days as expected. I went long, and holding now. Looking for a longer term position off this rally from the lows.
3 months ago
Comment: I trailed my long stop to where the key level sits, it should move straight up, else I don't want to hold longs.
3 months ago
Trade active: We can enter long and risk one average range down.
3 months ago
Comment:
snapshot
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BTCMarket PRO
4 months ago
This setup is looking more invalid by the hour, ethbtc broke support and is looking more like a short any bounce opportunity.
snapshot
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IvanLabrie TOP BTCMarket
4 months ago
I think it'll bottom around here actually. I don't really use trendlines or other more traditional tools.
You're holding shorts?
Cheers, thanks for the comments.
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rivet.popper
4 months ago
Can this still be valid if we dip under the key level, like today?

And are you still considering ETH a hedge against BTC, or have they started to move in the same direction now (down)?
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IvanLabrie TOP rivet.popper
4 months ago
We need time for it to bottom, but I doubt it'll go any lower.
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IvanLabrie TOP IvanLabrie
4 months ago
ETH is now following BTC again.
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rivet.popper IvanLabrie
4 months ago
Up? or down? You said ETH was on an uptrend but that it was a hedge against BTC. Has that changed and now BTC going up again?
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IvanLabrie TOP rivet.popper
4 months ago
No, everything going down for now. There was a hack at Bitfinex too, I'd stand aside for now.
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rivet.popper IvanLabrie
4 months ago
How do finex users "stand aside" when we're locked out while we watch this thing dump?
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IvanLabrie TOP rivet.popper
4 months ago
I'm using kraken...a shame that finex does this. I suspect they are behind it too.
Hopefully you can get out unharmed.
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rivet.popper
4 months ago
Good to see you're back in the long. Now all I need is access to my Finex account so I can get out at that 40 USD you spoke of...
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rivet.popper
3 months ago
Are we starting a new 5 bars of underwater now, or has this pattern been broken?
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IvanLabrie TOP rivet.popper
3 months ago
As long as it holds above the key level it'll likely keep going up. My long is risk free now, I'll wait.
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rivet.popper IvanLabrie
3 months ago
Bounced off key level yesterday and seems to be holding there. Are you? Still holding, that is...
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IvanLabrie TOP rivet.popper
3 months ago
You can go long again, risk is 1 ATR down.
+1 Reply
rivet.popper IvanLabrie
3 months ago
Thanks, can you explain Average True Range a bit please? How do you use it?
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DomarkasM rivet.popper
3 months ago
There are some Youtube videos explaining how to use ATR for stop loss
+1 Reply
rivet.popper DomarkasM
3 months ago
Thanks, can you at least tell me where the ATR would be in this case?
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DomarkasM rivet.popper
3 months ago
I am not entirely sure, but if you bought at 9.99 eur, stop loss would be around 9.09 - 9.00 eur. (considering 1 ATR risk).
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IvanLabrie TOP DomarkasM
3 months ago
snapshot
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rivet.popper IvanLabrie
3 months ago
I appreciate this Ivan, and thanks also Domarkas. So Ivan are we not holding for ultimate target of 40 USD anymore?
+1 Reply
IvanLabrie TOP rivet.popper
3 months ago
Not set on a take profit level for now. Just watching how it evolves. The uptrend target is invalid now.
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Rocketman PRO
3 months ago
Yes! Kick 'em right where it hurts!!!
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rivet.popper
3 months ago
Any reason to stay in this trade now?
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