Crypto_pimp2
Long

Ethereum's next impulse coming sooner than later.

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
340 0 3
Every trader has their own style. I will share how I enter a trade. I tend to have several steps before getting into a position. My charts are a lot messier than this but I hate that shit so I start removing some of my lines to get a clear picture.

First, it's imperative to identify the trend. ETH has been sideways for a few days and now is getting ready to go in either direction. I am bullish at this point so I am betting that it will surge upward towards the $600-$605 range.

I first look at coinmarketcap.com to see the overall market activity to make sure I am not buying into a withdrawing market. As I am writing this, the market cap is at 327billion. It has been fluctuating from the low 300's to the highest point of about 330billion.

I believe we will hit a low of 320billion and then a surge of new money will come in maybe hitting that 340billion mark then see a nice sell off.

I am going to list most of the indicators that I have on my checklist.

+ EMA's of 12, 21 and 55.
+ OBV
+ MACD
+ I draw support and resistance lines on the DAILY chart
+ Use Fib retracer from the trend reversal point. Since I am bullish , I am looking at the .382 level and above. Strong support in the $485-492 area.
+ At the end, I like to zoom out and use the Ichimoku cloud to somewhat check my work.


I've been wrong before but this system I am creating for myself helps me manage my risk. I always use STOP LOSS and I stick to my plan. I am selling at least 65% of my holdings when we hit the $585-$592 range.

I am sharing my idea on TV so I can keep records of my trades because I want to get better. Please, if you have any constructive criticism, I would appreciate it if you shared your thoughts with me.
Comment: EMA was 12 and 21 on this chart even though I shared that I use the 9, 21, and 55.
Comment: *Update
I was expecting a slightly stronger pullback but the selling volume isn't there. This can only mean one thing. Moon Soon.

GL. Trade with caution.
Comment: Super strong psychological support at $500.

Will add to my bag if it drops again. Until then, keep your seat belts on.
Comment: Fuck yeah.
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