ETHEUR: DAO Hack and Crowdsale key levels

KRAKEN:ETHEUR   Ethereum / Euro
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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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.
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.
Trade active: We can enter long and risk one average range down.
Any reason to stay in this trade now?
Yes! Kick 'em right where it hurts!!!
Are we starting a new 5 bars of underwater now, or has this pattern been broken?
IvanLabrie rivet.popper
As long as it holds above the key level it'll likely keep going up. My long is risk free now, I'll wait.
rivet.popper IvanLabrie
Bounced off key level yesterday and seems to be holding there. Are you? Still holding, that is...
IvanLabrie rivet.popper
You can go long again, risk is 1 ATR down.
+1 Reply
rivet.popper IvanLabrie
Thanks, can you explain Average True Range a bit please? How do you use it?
DomarkasM rivet.popper
There are some Youtube videos explaining how to use ATR for stop loss
+1 Reply
rivet.popper DomarkasM
Thanks, can you at least tell me where the ATR would be in this case?
DomarkasM rivet.popper
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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