usmanshahid
Long

ETH More to Go HIgh (bullish Peanut)

BITFINEX:ETHUSD   Ethereum / Dollar
1591 7 13
In my previous analysis about ETH... We saw a Nice bullish symmetric triangle Breakout,,
ETH after the Previous High breakout reached 1.41 extension Fib level( Resistance) and now FOrmed Support at 1.27 Extension Fib level measure from 395 to 198... Market is still very Bullish SO it maynot be possible that we see again 400 soon
The next potential stop 517 which is extension FIB level (1.618)...
Risk/Reward ratio is very good for this trade...
Although if market isnt able to break the symmetric triangle( Bullish Peanut) and went down the next stop will be previous high ,,,
But ETH has formed a very good support at 450 level..
Good luck
Trade active:
snapshot
Trade closed: target reached
The call you made for hitting 517 was aces, well done
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@jimeny, Thankyou
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Man I think u mean PENNANT
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@qdoc, samee thing
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qdoc PRO usmanshahid
@usmanshahid, really ok no worries have never heard anyone call it a peanut before but i'm not a TA guy. Nice analysis ;-)
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@qdoc, np thankyou
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qdoc PRO usmanshahid
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