ETC Dont Miss the bus, but wait for the right station to enter!
Updated
Hello All,
We can see That ETCBTC is on a bit of a Bull (UP) Tear away. Its broken and then retested the 200 ema ( Green Line) and then taken off. Its then broken out of its bullish channel and taken out resistance levels at 0.0030 and 0.0036 with apparent ease. Its always tempting to jump straight in when we see this type of move buts its dangerous as the move is extended and likely to retrace.
We need to wait for another ABC pattern here, Price as Advanced though our levels, we need a pull Back to one of them, and then, we can trade for price to Continue in the original direction. So we are currently looking for a pullback to either 0.0036 or preferably the top of the channel. The brave can enter off the levels, and the conservative head down to an hourly or 4 Hourly chart for a reversal (Up) bar,
To make DOLLARS your decisions must make SENSE, don’t jump early here, it’s a low percentage play to this far into the move
What I do intend to do is trade it, make money from it and share my thoughts with you.
Feel free to follow for more profitable trade ideas.
This trade will be updated with buy positions when presented.
We can see That ETCBTC is on a bit of a Bull (UP) Tear away. Its broken and then retested the 200 ema ( Green Line) and then taken off. Its then broken out of its bullish channel and taken out resistance levels at 0.0030 and 0.0036 with apparent ease. Its always tempting to jump straight in when we see this type of move buts its dangerous as the move is extended and likely to retrace.
We need to wait for another ABC pattern here, Price as Advanced though our levels, we need a pull Back to one of them, and then, we can trade for price to Continue in the original direction. So we are currently looking for a pullback to either 0.0036 or preferably the top of the channel. The brave can enter off the levels, and the conservative head down to an hourly or 4 Hourly chart for a reversal (Up) bar,
To make DOLLARS your decisions must make SENSE, don’t jump early here, it’s a low percentage play to this far into the move
What I do intend to do is trade it, make money from it and share my thoughts with you.
Feel free to follow for more profitable trade ideas.
This trade will be updated with buy positions when presented.
Note
Make sure to be patient wait for the retrace, we are not in the business of buying high and selling low.The fear of loss costs traders the most money especially with new traders in this market.
We are here to earn money patience will drive you to success.
I am a newly retired investment advisor of 25 years in financial markets, I am here to stay age is against me knowledge is with me.
We will be doing many profitable trades for 2018, I look forward to earning with you all, but lets do it when timing comes i will update this trade when time arrives.
We are here to make money, lets do it!
Note
Be patient here with opening positions we want it to retrace back to .0036 (yellow line) or preferably the top of the channel before we open a position.Some trades we don't enter as the chars don't allow us but its much safer then running off dreams and hopes.
Note
Patience always pays as you can see we have crossed the yellow line and was worth the wait.If you had a buy set on my target you will now be in ETC.
If you weren't patient and didn't follow trade instructions you would now be at a loss, this is why its always important don't trade with your emotion trade the chart.
You can get very rich in this industry by trading charts However, if you trade emotion you can lose your capital even faster and be stuck in long hold positions preventing you from opening new opportunities.
Buy low sell high all very simple.
Enjoy your profits
Note
Targets below.Well done again for those who waited and took my advise. Now we have seen a cheaper entry on which means we MAKE MORE MONEY.
Its great to see volume heading up as we trade another confirmation we are in at the right spot.
Some of you will already be in for those that aren’t If you jump down from the daily chart to the hourly Chart you can see the buying bar we have been waiting for. When the bar closes buy the next time the high of the bar is taken out.
We will have a Stop Loss around 0.0035, and the targets are the red lines 0.0048, 0.0055 and 0.0059.
We encourage aggressive profit taking in this market.
Always remember if you want to make dollars your decisions need to make sense. Try and wait for this bar to close and but the break of the top of it. Buying now will also work, and will provide higher returns but more risk of losing on a random move.
Note
I still have my position here, if want to buy you can wait for a reversal (UP) bar at around .0036 satsNote
For the conservative traders waiting for an bar up past .0036 keep watching charts.Aggressive traders that bought the retrace when crossed yellow please not if it goes below .0033 best get out as thats the last support for a while.
Trade active
Hopefully most of you weren't entered in this trade as we didnt get the reversal bar we were seeking. If you were you can jump out for a loss, or hold on for the next leg up. I am still expecting a leg up.If price falls below the low of today's bar i would exitTrade active
We have covered that most people shouldnt be in this trade. If you are then you should be out at 0.0033.Note
Getting a few questions about the pair. At the moment the retracement is only about 50%, the support at 61.8 retracement are around the same place. I expect the picture will become clearer around there.Order cancelled
I have cancelled this trade as we posted another and people shouldnt be in this by our post
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