FX_Guru
Short

ETHEREUM breakout, Possible ABCD pattern forming

BITFINEX:ETHUSD   Ethereum / Dollar
COINBASE:ETHUSD            

Ok, so ETH had a breakout at point X, the first thing what we can expect considering it's current price action is a formation of ABCD pattern with completion at around 985 area, followed by a correction towards support line. My strategy will be as follows, I'll wait until price tests supposed point D price level after that I'll will enter short with tight stops targeting support line, let's see how it goes.
Comment: ABCD pattern completed
Trade active: Entering short
s\l 1031
t\p 800
Trade closed: stop reached
Are you basing expected support off of the trend line there?
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@TheGush, Exactly like that
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