Long

ETH $340 - 360: I am long again.

Updated

I give it a new try and be long now.
Got in at $299 after I sold last time at $303

Japan and China will wake up soon.
Europe is already go to sleep without much downward movement.

Volume is increasing. Symmetrical triangle is closing.
Bitcoin is again at an all time high.
Other alt coins like NEO, PAY and OMG going down or stagnating.

Seems to be a good moment for ETH.
Trend will be confirmed if we break resistance at $303-306.

My targets are $310, $340 and $360.

Tight stop loss is at $293.
In best case this is a RR of 1:10.

Do your own risk analysis.
Good luck!

Note

We already broke out from our $303-306 range.
Remember, this was a heavy one two days ago.

Pair ETH/BTC is already at $310. Not too late to get in, tho.

Note

Ok. Target 1 is already taken.
As expected we hit $310 and fall back to $305.

Pair ETH/BTC is already back at $311.
On GDAX USDT/ETH is already back at $309.5.

Now we are waiting for China waking up to reach our next target.

Have fun! :)

Note

By the way, I am trading on BITTREX but still use the Poloniex chart here.
Sorry if this makes any confusion.

Note

We broke the last high of August, 9th.
So we have a higher high now. #moon #soon

Note

Here we go. It seems like the next wave is about to start.

Note

Now we are waiting for Europe to wake up.
Bitcoin is already about to hit new all time high $3700.

So far it looks good, tho?

Note

ETH/USDT on GDAX/Kraken/CEX at $312-315.
On Polo/Bittrex/Bitfinex oversold at $309-310.

People taking profit or panic selling because some analyzes show pullback to $236 if minor target at $335 is hit.

I´ll stay long.

Note

We got a higher high now. But still not much increase in price.
To many people sell. It seem they don´t want a new all time high and we have to take them out. ;)

Trade closed manually

Actually I stick to my plans. But I no longer trust in this analysis because we broke the orange line. What makes me doubt. The patterns remind me of August 9th.

If even Japan & China (just woken up) is not bringing this back to track a more bigger correction to the $295 area or even lower is likely for me.
So why not taking profit now to buy cheaper later?

I closed this trade manually with a smooth profit off almost 4%.
Now I wait for another opportunity. Maybe there is a situation to get in cheaper.
And if not thats okay for me as well.

Note

Definitely sold in a good moment. ;)

r2d2One

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