ETHUSD has cleared and held the $352 level and besides a couple more resistant levels, it is set for $580 and $685, or a 60%+ potential gain. Stop Loss should be placed at $345. At the 1.272 Fib Extension ($487), I would take 50% of my position off and trail the other 25% (by using the 21 EMA on a closing basis) until the $580 level (1.618 Fib Extension). The last 25% should be taken off at the $685 (Fib Extension 2), unless it closes below the 21 EMA in the meantime.
The $685 Level coincides with the projection of the High set back in June 2017, minus the low of the July 2017 ($412-$136 = $276), from that High.
So, $412 + $276, brings us to the $688 level (very close to the $685 Fib Extension).
Happy Trading!
Lindosskier
The $685 Level coincides with the projection of the High set back in June 2017, minus the low of the July 2017 ($412-$136 = $276), from that High.
So, $412 + $276, brings us to the $688 level (very close to the $685 Fib Extension).
Happy Trading!
Lindosskier
Fib Extension of 1.272% at $487 hit today!!! High of the Day was $487.5!!!
I hope you sold half of your position, as suggested in my original post for a 33%+ gain in 3 days!!!
Now, ETHUSD should take some time to rest and then, continue its uptrend towards the next Fib Level of $580, or until the price action warrants that we close our position. This would should happen if the price closes below the 21 EMA on the Daily chart.
Happy Trading!
Lindosskier