[Watch it] Ether, a symmetrical triangle about to break
It's not a / pennant, it's a symmetrical triangle.
Slight bias upwards, due to oscillators state.
Not much meaningful, considering declining volume.
Rule is always the same: watch for breakout, look for volume on a low TF as a confirmation.
Likely to move within 24/48H.
Act accordingly and use caution.
Slight bias upwards, due to oscillators state.
Not much meaningful, considering declining volume.
Rule is always the same: watch for breakout, look for volume on a low TF as a confirmation.
Likely to move within 24/48H.
Act accordingly and use caution.
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Long time supports.
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And here we go, 7% up already since OP.
Bias was right.
SL in break even and let it go.
Bias was right.
SL in break even and let it go.
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Now let's hope this has some legs, as we've seen plenty of rejections lately.
Never forget to place a SL.
Never forget to place a SL.
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A pretty good bounce.
Remember to lock in some profit.
Remember to lock in some profit.
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+23% swing intraday
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Beware, ETH is nearing resistance confluence.
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Got some at 122$
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ETH bull desperately need this pennant to be confirmed in order breakout resistance above 140$.
We'll see.
We'll see.
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and got over 140$.
Don't forget to use a TP.
Don't forget to use a TP.
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Resistance gone.
So far so good.
So far so good.
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Over 190$.
Set your Take Profit, volatility ahead.
Set your Take Profit, volatility ahead.
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Ether is either going to start a parabolic rise ( see that blue channel ) or to confirm a rising wedge.
While i'd prefer the former option, i'm inclined to think the latter being the most likely outcome unless Bitcoin starts rising any soon. Incase of break down hopefully a consolidation will follow towards the bottom of current channel.
So HAVE a TP, don't get caught off guard.
While i'd prefer the former option, i'm inclined to think the latter being the most likely outcome unless Bitcoin starts rising any soon. Incase of break down hopefully a consolidation will follow towards the bottom of current channel.
So HAVE a TP, don't get caught off guard.
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Update:
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Soon we'll have a strong move,
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Here it is, seems hyphothesis was good.
New channel ( if it manages to hold it ).
New channel ( if it manages to hold it ).
Trade closed: stop reached:
Closed 50% of the trade at 211$.
Profit management.
Profit management.
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As you see Ether couldn't keep the blue channel and went down about 10% already
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Would consider a buy in the lower half of the channel, having the opportunity.
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Test ongoing, watch it.
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(Short term)
Mind a possible bear flag.
Mind a possible bear flag.
Trade active:
Well, got orders filled both at 181$ and 190$.
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It would be very importano for Ether to bounce up within next few hours.
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Push Ether, or i'm gonna hate you ...
Channle recovery needed, a rejection here would be bad.
Channle recovery needed, a rejection here would be bad.