In the SNIPER'S SIGHTS.
So, ETH is doing some nice and very technical moves here. I sold my position in ETH a few days ago, after our last great trade (check it at the end of this analysis), and now I’m waiting for the pullback. Follow me to keep in touch with our trades, I do daily analysis here. We bought ETH near U$ 175 and it reached our main target, U$ 215, which is a fib retracement.
It practically touched the purple trendline, but the bulls are strong here, and now it’s back at the U$ 205. I’m still waiting for a real pullback, because I’m still not comfortable with this. In any case, let’s see how the hourly chart is behaving:
Now that’s interesting! A double bottom just above a support, with a pullback to the black line (top between the bottoms), that’s classical. I usually don’t like to do fast trades or daytrade, but I’m seriously thinking in buying at least a little right now (maybe ¼ of my regular positions). But I don’t know, that kind of trade just isn’t my style, who follows me know this. I like trades that lasts for days, even weeks sometimes, and catch a big movement.
ETH reached our main target and now there’s not much to do. If you are a sniper, like me, you are patiently waiting, no stress and no rush. The risk/reward relationship is not good for any trade right now, be it long or short, and I don’t think it’s worth. There are some opportunities if you are a faster trader, and I wish you luck, but as I said, not my style. I prefer to make few awesome trades that a lot of regular trades, and I trade only when I’m absolutely confidant.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
It practically touched the purple trendline, but the bulls are strong here, and now it’s back at the U$ 205. I’m still waiting for a real pullback, because I’m still not comfortable with this. In any case, let’s see how the hourly chart is behaving:
Now that’s interesting! A double bottom just above a support, with a pullback to the black line (top between the bottoms), that’s classical. I usually don’t like to do fast trades or daytrade, but I’m seriously thinking in buying at least a little right now (maybe ¼ of my regular positions). But I don’t know, that kind of trade just isn’t my style, who follows me know this. I like trades that lasts for days, even weeks sometimes, and catch a big movement.
ETH reached our main target and now there’s not much to do. If you are a sniper, like me, you are patiently waiting, no stress and no rush. The risk/reward relationship is not good for any trade right now, be it long or short, and I don’t think it’s worth. There are some opportunities if you are a faster trader, and I wish you luck, but as I said, not my style. I prefer to make few awesome trades that a lot of regular trades, and I trade only when I’m absolutely confidant.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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