ETHUSD swing/position long for a HL
Updated
Similar to my BTCUSD idea I am looking to get into a swing/position long on ETH.
- Entries aren't set in stone, just a general idea, like my BTC trade I'll enter live while monitoring PA.
- BTC has already fulfilled the 70.5% retracement level, ETH is hovering around the 50%.
- Both pairs could go much deeper and I am prepared to bid further down on each, this is a swing/position trade I'll be averaging in and am OK being underwater for a while.
- I don't think we V-bottom I believe we will see consolidation and a long drawn out range before (if) we get continuation to the upside.
Will update this as we go.
- Entries aren't set in stone, just a general idea, like my BTC trade I'll enter live while monitoring PA.
- BTC has already fulfilled the 70.5% retracement level, ETH is hovering around the 50%.
- Both pairs could go much deeper and I am prepared to bid further down on each, this is a swing/position trade I'll be averaging in and am OK being underwater for a while.
- I don't think we V-bottom I believe we will see consolidation and a long drawn out range before (if) we get continuation to the upside.
Will update this as we go.
Trade closed manually
I'm flat on all my trades after waking up to this dump. No reason to rush into a trade at this point IMO, my idea was wrong, going to let price settle before making my next move.
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