ETHUSD Update Risk Management Today
Neutral whilst Trading between the lines, but great for day traders whilst it lasts.
Left this as a sell off the underside of the lower parallel at
469 but it only reached 468 before it came off...two little
pins off the underside was enough warning to exit and
traders had plenty of time to see it form and take action.
We looked to buy back at 455 and since then it's risen to
hit the underside of the same parallel - and what was once
support is now resistance to the upside in classic
fashion...so that was a sell again (was banned from
updating anything for 12 hours last night for making honest
error of uploading a Litecoin chart to the sad little fellow
who haunts the gold chat room on TV. So was banned
because he reported my error and some jackbooted
apparatchik moderator shut me down. Who would have the
time to go report someone for making an error? Who are
these people ffs?) So couldn't update this beautiful chart
action...anyway it's been fantastic to trade in and out of if
you've followed the lines on this chart which are
unchanged from yesterday with addition of the new
uptrend line which had formed here over the last 48 hours.
Fairly obviously it's a buy off the new uptrend line supporting
the entire move and a sell off the parallel above it...until the
chart tells us it's changing.
It either pops above the parallel and then comes back to test
it from above once popped, it holds up ...very bullish
outcome. get long again...you have missed about 3 points and
a massive risk (if it fails from the parallel and you haven't
closed out at the high).
And alternatively if the uptrend line supporting this entire
move gives way at any point it will come off to 446 again and
potentially to 433 should 446 give way at any point.
Something has to give here pretty soon now. Be ready for it.
Follow what the chart tells you. Chart not heart. Always
Neutral whilst Trading between the lines, but great for day traders whilst it lasts.
Left this as a sell off the underside of the lower parallel at
469 but it only reached 468 before it came off...two little
pins off the underside was enough warning to exit and
traders had plenty of time to see it form and take action.
We looked to buy back at 455 and since then it's risen to
hit the underside of the same parallel - and what was once
support is now resistance to the upside in classic
fashion...so that was a sell again (was banned from
updating anything for 12 hours last night for making honest
error of uploading a Litecoin chart to the sad little fellow
who haunts the gold chat room on TV. So was banned
because he reported my error and some jackbooted
apparatchik moderator shut me down. Who would have the
time to go report someone for making an error? Who are
these people ffs?) So couldn't update this beautiful chart
action...anyway it's been fantastic to trade in and out of if
you've followed the lines on this chart which are
unchanged from yesterday with addition of the new
uptrend line which had formed here over the last 48 hours.
Fairly obviously it's a buy off the new uptrend line supporting
the entire move and a sell off the parallel above it...until the
chart tells us it's changing.
It either pops above the parallel and then comes back to test
it from above once popped, it holds up ...very bullish
outcome. get long again...you have missed about 3 points and
a massive risk (if it fails from the parallel and you haven't
closed out at the high).
And alternatively if the uptrend line supporting this entire
move gives way at any point it will come off to 446 again and
potentially to 433 should 446 give way at any point.
Something has to give here pretty soon now. Be ready for it.
Follow what the chart tells you. Chart not heart. Always