Mornau-Research

ETHUSD - Less risk and 14% profit

Long
BITFINEX:ETHUSD   Ethereum / U.S. Dollar
After a solid upwards movement in the past days it's time to publish an analysis on ethereum . BITFINEX:ETHUSD

I am sure that everybody remembers my past analysis (11.5.2020) on ethereum in which i announced a long entry.
The traders who followed my advice can already enjoy a gain of 14%, be aware that i already decreased my stop-loss to 397.9! (Past 368.76$)

In the next weeks i expect ethereum to reach prices above 500$ and it's very likely that we reach our profit target at 540$.
The chart will unfold in a classic 1-2-3-4-5 wave structure, however a risk on the downside still exists.

If ethereum should break below 436$ and 397$ we will correct very likely to prices below 250$. However the RSI is looking good and we still have some space upwards.
Keep in mind that ethereum forms a solid 1-2 in the long run, so don't be nervous about future price movements.

Current setup:

Entry: 408.63$
Profit target: 544$
Stop-Loss: 397.9$


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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
Trade active: Trade still active since 11.5.2020 !
If you should have any questions or want to get signals before i publish them on tradingview, feel free to contact me.

Comments

hello
+2 Reply
ferGOD ferGOD
+1 Reply
@ferGOD, Wave 3 target at 1200$ is a little high, but i sure won't mind making more profit !
+1 Reply
Good chart and timeframe. This is a very plausible scenario.
+1 Reply
@ich1baN, thank you, i appreciate it.
+1 Reply
Nice Idea!

Very good, do you have a discord or a website to participate in the next trades?
Reply
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