IvanLabrie
Long

ETHEUR: Two possible pathways

KRAKEN:ETHEUR   ETHEUR
We should go long ETH at market, using dollars or euros ideally, but diverting some BTC             funds isn't a bad idea either.
Keep stops below today's low. (or use this distance to measure risk and use no stops!)
If we find price holds above the 7.6078 mark for a month, we could expect uptrend continuation and a move up towards the 9-10.25 range, before rallying strongly again.
Fundamentals suggest it's likely to see some accumulation coming into play, due to the start of the slock.it presale today.
Thanks to @TheOwl for reminding me: https://daohub.org/
This process WILL take time, so, be patient, but this is currently the lowest risk long entry you can take.
We'll get further chances to accumulate ETH once we confirm my thesis.

If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.

Cheers,

Ivan Labrie.
Comment: We'd need a break of the previous daily high within 2 days ideally, and price hitting 9.48 to confirm the momentum. If it doesn't hit that target it's ok, as long as we get new highs and price starts to hover above 7.60 in a stable manner.
Comment: Join my live stream today. I'll do a broad market coverage and discuss a few setups. Starting at 7pm, GMT-3: https://www.youtube.com/watch?v=dFRgg2WwgyQ
Comment: Prices firmly above resistance, we should see uptrend continuation as outlined.
Comment: Path A or B still viable, but, it's clear price won't come back down. Hold longs and buy dips.
Comment: We have confirmed a 30+% rally from here yesterday, you may to longs on a dip with stops under yesterday's low if you want.
Comment: Nice!
Comment: Perfect so far.
Comment: And now it's clear the green pathway is more probable, let's see how it goes.
Trade closed: target reached
one was blue and the other was red, or is my lack of sleep affecting me? :)
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My eyes might be failing me haha. Thing is, the steeper uptrend path is the one that seems to be happening.
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dub00 PRO IvanLabrie
I thought it was me. Looking forward to a good rest tonight after closing very good BTC & LTC trades at the highs. Left Ether open as I also feel it potentially has considerably more. Cheers for clarification of your view
+1 Reply
What did you use to draw these two possible pathways?
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Hi. I copied bars from previous legs of the uptrend using the bar pattern tool.
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asenski PRO IvanLabrie
Thank you! I see. I thought it was some probability based projection. :)
Still not sure which tool you are talking about though.
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Here's my take on it. But be careful as there are events next week as well as hype around "The DAO".

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I really don't like that kind of trendline that goes through price, it's very 'guess-y'. I mean, you could find so many of them in so many timeframes...
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asenski PRO IvanLabrie
It is support turned resistance. I find more of those that work, than those that don't, but I do filter them based on other criteria.
We did get a reaction to it, but now I think we are resuming the upside trend.
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