Looking at the chart now and how it behaved prior to the 2017 boom, you'll find a lot of similarities. If ETC does follow it's previous path, we can expect a significant upwards movement in the coming days (probably around May 21-25).
Best-case scenario = 16 EUR
Semi-best case scenario = around 13 EUR
Worst-case scenario = 9-10 EUR
RSI , MACD & Fab all show...
Based on bigger picture (bellow), I'll go with 5% risk with trade as charted - entry an long term resistance, stop loss bellow previous low, target 1 at 0.382 Fib retracement level and final target at 0.618 Fib retracement level of last drop. If things will be OK, I'll leave part of trade for longer run.
Disclaimer: this idea is solely for my own purposes, to...
We have many reasons to enter long trade at this level:
1. Previous lower area was (somehow) tested and rejected with low at 8.9.
2. Currently ETC is fighting around 61.8 Fib level, which acted as support two times in the past.
3. We can draw Gartley pattern, where level of point D corresponds to longer time resistance line.
- entry 10.50 (or...
Thank you for your interest in this idea.
When we look at the weakly chart of ETC, we see a big H&S forming.
What are you thinking about this H&S, or do you think ETC will go to the moon soon?
Share your thoughts with us.
This is just an observation, not a real technical analysis. I found it interesting (or amusing, if you like :) that each time ETC reached the peak around 16 EUR, it retraced all way down to 0.786 Fib level after app. 1 month - notice bottoms at the end of June and at the beginning of August. Will it hit 13 in September? Hope not, but will be interesting to check...
ETC is obeying support line nicely. Simple trade idea is to enter at pullback to this support line at 13.8 with target at 15.4, stop loss at 13.4.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
As already posted a year ago, most coins are very tightly coupled and spreading money across them, is just an illusion of risk management.
I don't pretend to know much about trading nor analysis, but one could ask him/herself the following question: for such a diverse variety of coins which all try to solve some kind of problem in their own way (and each of them...
If we look at long term, we can see a pattern here. ETC needs to break above 19 with nice daily close - not just break through and retrace bellow it. Also starting point from where it breaks is important - we are looking for starting point as close to 19 as possible.
In the past it tried and failed twice (marked in red) - there was just break and then close...