EthereumLong
Ethereum: When Do We Take PROFITS?
Ethereum has been a powerhouse over the last days and weeks.
It is following our predictions perfectly. I've been in this since 225, my target is around the old highs of 400.
I like to look at smaller time frames to time my entries and exits and to get a more in depth picture of price behavior.
MY PROJECTION:
We should continue in this ascending wedge pattern for the next days until about 380.
The question then is, do we get some early profit takers who get scared and sell out? Then we could see a quick drop as often happens in cryptos. But I think we will see buyers come in for the push to 400.
OR we could breakout with some strong momentum and push to 400, breaking UP out of this ascending wedge pattern. I think we'll definitely get a sell off there, as it will be the all time highs. Watch for a strong sell off and keep your stops tight.
if you want to take some profits early, then around the 370, 380 level might be a good place. Take off 1/3 of your position to lock in some profits.
Overall, looks strong, and should continue to around 400. NOT A GOOD PLACE to enter if you haven't already on this time frame. But good to watch to see how price behaves at a target / resistance level.
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
It is following our predictions perfectly. I've been in this since 225, my target is around the old highs of 400.
I like to look at smaller time frames to time my entries and exits and to get a more in depth picture of price behavior.
MY PROJECTION:
We should continue in this ascending wedge pattern for the next days until about 380.
The question then is, do we get some early profit takers who get scared and sell out? Then we could see a quick drop as often happens in cryptos. But I think we will see buyers come in for the push to 400.
OR we could breakout with some strong momentum and push to 400, breaking UP out of this ascending wedge pattern. I think we'll definitely get a sell off there, as it will be the all time highs. Watch for a strong sell off and keep your stops tight.
if you want to take some profits early, then around the 370, 380 level might be a good place. Take off 1/3 of your position to lock in some profits.
Overall, looks strong, and should continue to around 400. NOT A GOOD PLACE to enter if you haven't already on this time frame. But good to watch to see how price behaves at a target / resistance level.
---
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.