ETCBTC - Cloud Reading - Upcoming Long Entry
Updated
ETC has broken through the Kumo cloud and looks like it is retracing to the flat Kumo area, or possibly further down to the Kijun which corresponds to the 50% fib. The T-K lines crossing twice within a few weeks time span of each other and Kumo Twist is a good indication that price is shifting to a bullish trend.
I'll be waiting for a Heiken Ashi doji candle to form before looking for a long position. The Chikou Span can give some indication of how long we might have to wait for a good entry, to me this looks like anywhere from two days to a week for it to clear turbulence in the cloud.
If ETC price breaks above the recent high, a possible edge to edge trade is in play on the Daily with an adaptive MA system:
This gives a possible first target at ~.003 or +45%.
I'll be waiting for a Heiken Ashi doji candle to form before looking for a long position. The Chikou Span can give some indication of how long we might have to wait for a good entry, to me this looks like anywhere from two days to a week for it to clear turbulence in the cloud.
If ETC price breaks above the recent high, a possible edge to edge trade is in play on the Daily with an adaptive MA system:
This gives a possible first target at ~.003 or +45%.
Note
Nice looking Heiken Ashi Doji forming on MAMA support, sooner than expected:Trade active
Buy Signal confirmed. After the Doji candle a good bullish momentum candle is forming:Trade active
+15% in profit so far.Edge to Edge trade in play, expecting price to hit target with high volatility:
Trade active
Adding 4HR perspective with E2E trade:Trade active
Progressing nicely. I recommend placing close orders at target 1 as price typically likes to bounce off of it quickly before retracing and deciding a direction for the next trend.Trade closed: target reached
+60% closing some positions. Letting the rest run until Stop Loss is hit
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