Long
ETP Falling Wedge - 500% Profits Potential!
Hello friends! Welcome to this beautiful analysis on ETP. We can see from the 4hr log chart that ETP has formed a huge falling wedge on its way down from its ATH and currently we are going to have what will likely be the final touch of the bottom of the wedge. If you are a risk lover, you can buy once the bottom of the wedge is touched with a stop loss 5% below your buy in price. Personally, I always advise my followers to wait for a confirmed breakout before placing any orders. Remember to book partial profits at each level.
For the indicators, MACD is about to cross over bullish, RSI and Stoch are both oversold and all these combine to give us heavy bullish signals.
The targets for this trade are shown on the chart. Remember to do your homework before investing. This idea is not meant to constitute investment advice.
Much love from Commodore!
For the indicators, MACD is about to cross over bullish, RSI and Stoch are both oversold and all these combine to give us heavy bullish signals.
The targets for this trade are shown on the chart. Remember to do your homework before investing. This idea is not meant to constitute investment advice.
Much love from Commodore!
Note
We got a break down of the wedge instead. Brace up for a fall towards 0.70. This is one of the obvious dangers of trading a pattern before a breakout. However, this doesn't render the wedge pattern invalid, since 'e' waves are known to exceed
or not even touch the trend line very often. Let's see how this develops.
Note
Pattern is still valid. We got a nice spring down the bottom of the falling wedge and now it's wrestling with the top resistance. If we get a close above the top of the wedge, then we're definitely going to the moon. Buckle up guys. This doesn't go without saying we should all keep an eye on the movement of BTC' as it has a very heavy impact on the performance of other coins.
Good luck from Commodore
Order cancelled
BTC is in such a huge mess right now, wont allow alts to shineNote
These two trendlines have been punishing ETP all the way from the ATH. Whenever this coin gains the strength to get above both lines, we'll have a very massive bull run.Note
We finally broke through the resistance line that has lasted for monthsNote
This coin is recommended for long term hold
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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.
Related publications
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.