As many have noticed, we broke down from a major rising wedge yesterday on Ethereum. That along with the loss in bull momentum could mean we will have a similar outcome as shown in the fractal here.
Comment
⋅
ETH testing the 4hr 50EMA for the third time now. Needs to remain above it to stay short term bullish.
Trade active
⋅
And there we go! Dropped perfectly as predicted, very nice 10% trade from entry. This has hit my first TP at $139.
Comment
⋅
Update on Fractal idea, although the drop can usually be predicted from historic patterns as shown in this idea, the correction and descent rarely matches to a previous fractal therefore I would not rely on this to trade.