DLavrov
Long

Ethereum: My Trading Plan

BINANCE:ETHUSDT   Ethereum / TetherUS
It was cool! The upward movement to 280.00 allowed us to make a good profit. But what's next?

If you skipped buy opportunities based on reversal and breakout signals below 200.00, now you need to think about how to join the uptrend. The market is bullish , and buying is logical in this market. But how to do it properly?

The price reached the resistance zone . We should be ready to see a reversal as the market looks overbought. RSI is in the overbought zone. It will be able to provide us a good bearish signal. Yes, MACD lines, histogram, and DMI confirm the strength of buyers and the further upward movement. If the price breaks 280.00 resistance, it will be able to reach 366.75 level, and it will be the top of the previous bullish movement. But I don't want to follow a possible breakout signal. The market will become super overbought, and it will increase the chances to buy on the top. It will be better to miss a profitable trade than to do stupid things.

The market is bullish , and it is a very important signal now. It means we have to wait for pullbacks and buy using reversal signals from support levels, SMA50, SMA100, SMA200, and important trend lines .
I would like to buy from 220.00, and it is my 1st buying zone. If the price moves below it, there will be other buy opportunities. Such type of trading will allow me to get good entry points not far from support zones. It will make stops small, and the market will have a good space for the upward movement.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Recommended Crypto Exchange: http://bit.ly/2SL8UnH

Recommended FOREX Broker: http://bit.ly/2KUNQIr



PREMIUM Trading Ideas: http://bit.ly/36jZ00kM

FREE and Cool Stuff for traders: https://t.me/dlavrov_tch

Comments

Nice TA as always. But I think we need to keep in mind that a vertical price jump like this could trigger FOMO. Of course you can't really include psychological factors in a TA.
Considering the current market conditions (JP Morgan+ConsenSys, 1 Billon USD DeFi cap, rising ETH Futures Volume) I see no reason for ETH to fall back as much as 42% from 280 to 160 whatsoever.
In deed the market is becoming overbought on several time frames. Dips are bought very quickly these days so the 220 support line can be used for a reasonable reversal bet with a nice Risk/Reward Ratio.
However, a buy-in in the area between the 'local high of Aug 6th at 240' or the 'channel high from Feb 9th at 230' and the 220 line, might be a saver option than hoping for the price to really touch the sup line at 220.
+4 Reply
Thanks for sharing.
So what would be your your SL?
+1 Reply
Good plan
+1 Reply
DLavrov teppi020387
@teppi020387, thanks!
Reply
Thanks for sharing.

Impressive so prepared you are ahead of time.

A real battleplan.
Reply
decent work
what's your thoughts on this?
Reply
can you spell gains? up 40% since update. click play to recap.
linkbtc daily up to 100% upside (NEW).
Reply
Just buy because its going well above 300 and likely before the daily candle closes
Reply
very good analysis) eth break descending triangle upward
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out