It has been exactly 18 hours since I wrote that the target of 4000 usd would be met within a few days but it has already happened!
Congratulations with Ethereum and the 4000 reached level! What is next now?
We are seeing now many divergences on multiple time frames among others in the MACD, RSI, STOCHASTIC. We are also forming a DOJI on a daily basis but the daily candle has not yet closed so it is not confirmed. You can see also a bearflag. These factors and the 4000 level which make me expect a correction.
To be more precise, I expect a pullback now to the levels 3500 usd, 3200 usd and 3000 usd. 3000 usd seems to me the ultimate buying moment but probably everyone is too negative and thinks it will go even deeper. I will wait with patience anyway because my style is buy low (with a discount) and sell high with nice profits!
Right now I am short Ethereum with a stop at 4060 and first target at 3500 usd. Is my stop hit than I had a very small loss but a very good Risk reward! I will turn bullish again if we break all time high and come back with a RE-TEST of that level.
My buy order is already placed at 3050 USD with a stop at 2790 USD and a target of 4000 USD.
This is my own personal view on Ethereum and not investment advice. Always use your money management and stops when trading. Have fun and trade safely!
See also the related posts from Ethereum because they are very useful!
If you guys appreciate my posts it would be great to follow and like me! It motivates me to continue with these analyses!
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Traders one note. My short is a counter trend trade with a very close stop. Countertrend trading is not for everybody. One of the best trend following methods is buy when ETH touches the lower boundery of the trend channel en a stop at the last low before. Zoom in on short timeframe for the perfect entry with MACD and or Candlestick, Hammer, pinbar, bullish engulfing and so on. Then sell or placea stop under when ETH reaches the upper boundery of the trendchannel. All with stops and max 1% risk!
Trade closed: stop reached
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Hello traders, My stop was hit at 4060 as I wrote before. This was a counter trend trade and in an uptrend the possibility that it works is far less then trend following trades but my stop was very tight!
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Watch carefully for a stop below the trendchannel. That would be very bearish if this breaks down there!
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Guy's here is the latest update of Ethereum: Must see!
How is this a bear flag while the pattern is in the uptrend?
Ether2020
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@proftariq, thanks for your remark, happened by mistake. Just ignore ;-)
Cryptomania2363
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Not going to 3500 again. Buy at 5k fam
Ether2020
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@Cryptomania2363, Yes my stop was hit with a very small loss. It will go higher for sure! Thanks!
swaydanmohamad
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I hope you are true but man you need balls of steel to short now
Ether2020
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@swaydanmohamad, Thanks for your comment! No not at all! I have an amazing risk reward right now and my risk on capital is 1%. The profits can be high with this high probability trade with low risk.
Trade safe my friend!