ENTRY: 178.18 (0.25 pivot) - Mech Short
TP1: 170.38 (close 40% and move stop-loss to 174.84)
TP2: 165.05 (close 30% and move stop-loss to 170.38)
TP3: 162.15 (close remaining 30%)
Why was this trade taken?
ETHUSD bounced off the 174.84 support 3 times, each time making a lower high, thus forming a descending triangle.
Hidden Pivot looks to have us in a long here. Dugong with his TTM and god mode in that wonderful indicator down there is showing us some confirmation of the price action idea's I have for the weekly. This is long term, and FX so... you know. Don't be surprised. But I like the strength.
So, I like MCF. Good ol' t3mpoz at Crypto Traders TV just was looking at it. Thanks to him, I think I have me a trade. .25 is entry, well a little below, a little below 0 stop, 1 is final target to let rest ride in profit. Mechanical setups and the hidden pivot method developed by Rick Ackerman have changed my trading my friends.
This is my long term perspective on Gold, based on the Elliot Wave principle and another technique I use called Hidden Pivot. This is my first published idea and I do it simply because this is what I see currently and I'm currious to see where it will be in comparison, let's say a year or two from now... I may elaborate further on smaller TF as things develops, if...