If you have been following my Ethereum analysis you will notice that I am getting mixed signals on this sum of a bitch! I had some free time today since I am sitting on the sidelines right now and have closed all of my positions until I get confirmation. I feel like there is a grand plan here for the whales and they are toying with us. I always try to be prepared for all angles and that's why I am a profitable trader. Always wait for confirmation is the number one thing I would teach to other traders, however lately it has been fake out city and what you may think is a confirmation winds up turning into a huge wick therefore making it very hard to trade this market. What we want are the large swings in momentum and trend. That's where the money is. If I'm not comfortable with a trend I have no problem closing my position and re entering upon confirmed confirmation, even if I have to buy in at a slightly higher price. As you can see here on Ethereum we have mixed signals as to whether to go long or short. Be careful guys. Be sure to check out my charts and you will see that I am a step ahead of the heard! Happy trading!!
Comment:
So it looks like our triangle is in tact. My last post had u me indecisive and had us going either way. So we did head up and are in the middle of the D wave. What I'm watching out for is to see if our symmetrical triangle stays in tact and heads down for the E wave or will it continue up and break through the triangle to the $262 area which would now form a bullish ascending triangle. Either way, I am looking to short this. If we break up to $262 there is a nice short in play and even if we hold the symmetrical triangle at $254 I will be shorting as well.