COINBASE:ETHUSD   Ethereum / U.S. Dollar
149 0 2
2/12/18 (4:29pm EST):
Short Entry (845) Target (500) Stop loss (930) <Possible bear trap>

Logic :
ETH like all cryptos are in a downtrend, consistently fallen and bounce off key support and fib levels after brief capitulation of about a week or so. Afterward, the price action rolls over and the volume increases to the downside until it reaches the next support or fib level.

Typically ETH falls 2-3 standard deviations (stdevs) from its previous bounce peak and then jumps ~30-70% before losing ~50% again and retesting lower support levels (which typically coincide with previous support or fib levels). The high from this most recent bounce was $900, which makes the expected drop range ~450; which happens to coincide with where the next large support range is and 0.382% fib levels. $500 is a round number which usually means bids will enter the market around that level. I expect the selling to touch $450, but want to sell my shorts into the bids coming in at $500 to make sure I get out.

Obviously, this historicism of trading works until it doesn't, so I will keep a close eye on when this trend reverses and adjust my expectations and strategy accordingly.
Comment: 2/21/18: stopped out of original play. I failed to spot the changing market environment and bias. Although I can see ETH retesting the $700 level, I decided to wait and see first. My timing has been about 1 week off thus for my trades, so I will reassess shortly.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out