Ether Update | Possibilities... | Comment your view
If you are following my updates, you had an idea of current dump is due to breakdown of of Symmetrical triangle, i have marked the possible dump and a red line of target however that time i was seeing bullish side but corrections and profit bookings are much necessary for a healthy market and it is the way it works, it is usual.
Here is my last update
# According to the chart we have not opened any long positions because pennant does not breakout.
# In case you have traded breakdown it was a 5% straight down.
# I am not bearish on it because corrections are much needed things.
So now what ?
I have marked the green area below and it is a good level to buy back. It is also a support zone of Weekly Chart. Here i am not saying that we are going to get those levels but in case the price fall be ready to buy in that zone.
If we jumped back from that area the targets marked are still possible however that can be a swing trade and not a quick profit.
If price broke through the green zone we may see the below targets, well it is not the time to do detailed analysis for downside, we will do it after getting which side current scenario is turning to.
Note: It is just an overview on ETHER possibilities. It is not a financial advice to trade or invest. If you do it will be your choice.
If you think this short analysis gives a better view. Please support this idea by giving a like on it.
Here is my last update
# According to the chart we have not opened any long positions because pennant does not breakout.
# In case you have traded breakdown it was a 5% straight down.
# I am not bearish on it because corrections are much needed things.
So now what ?
I have marked the green area below and it is a good level to buy back. It is also a support zone of Weekly Chart. Here i am not saying that we are going to get those levels but in case the price fall be ready to buy in that zone.
If we jumped back from that area the targets marked are still possible however that can be a swing trade and not a quick profit.
If price broke through the green zone we may see the below targets, well it is not the time to do detailed analysis for downside, we will do it after getting which side current scenario is turning to.
Note: It is just an overview on ETHER possibilities. It is not a financial advice to trade or invest. If you do it will be your choice.
If you think this short analysis gives a better view. Please support this idea by giving a like on it.
Trade closed: target reached:
All the targets reached well. We closed our trade fully. :)
Price is jumped back a little from the marked buying zone and showing some sellers seems active ATM but still we will not go bearish until price broke through the green zone of the chart and if price broke through this area the target should be around 122.5 to 117 further updates will be in new idea.
For now let’s watch the charts to bring some momentum to either side.
Till then take care of yours and your loved onces.