Long

$ETH - BUY - Smart Money Retracement near 70.5%

Updated

Nothin but upside from hear as it just cleared an intermediate high. It's going higher

Note

Take profit zones are as follows.
$25 increase on the first Take Profit. and then we do a $56 dollar increase on the second take profit. Take profits wisely. I usually do 50% of my lots on my first take profit and lower my stop loss. Just a brief hint of how I trade.

Note

I hope someone else caught my mistake and was able to wait until the trade unfolded. Because eventually, it hit the true 70.5%. The above idea was not the correct support to set your fib. The follow chart is correct.

It made equal lows as I was calling for the buy which created liquidity. Price did drive down through more liquidity. which led it to the price that it did.
The good thing is we're still in profit either way and I hope you're taking profits as much as possible. The reason I say that is due to the fact that there is an area between 1130 and 1155 that it could possibly dip to because there are equal lows and and a bullish order block just below those equal lows. And if we move the fib to that low spike that order block is near the 70 .5% retracement. So there's still a good possibility it could fall to 1141. (See Chart)

But with the way its looking, it's looking very bullish and I'm good with that. lol.

Note

Close enough to Take Profit 2 to do it.

Note

What I'm afraid of not is the possible drop associated with this idea. So I would set my remaining take profit to break even now.

Note

Close it up and set your previous stop loss as a new buy limit. But if it breaks new highs, cancel that idea. Not sure if it will get there but it never hurts just in case.

Note

Taken out of original Trade

BodiesXWix

You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.

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