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Is Ethereum Poised To Drop Further? Timeframe: 240M Main Scenario: ETH/USD could resume the downside movement if the rate will make a valid breakdown below the 150% Fibonacci line. You can see that it has developed a minor chart pattern, so a valid breakout from this pattern will confirm further drop on the short term. Alternative Scenario: We may have an upside movement if the rate will make a valid breakout on the upside. You should know that an important upside movement will be confirmed only after a valid breakout above the outside sliding line (sl). Entry/Stop Loss/ Take Profit: Maybe you can go short from 401.36 level and you should place a Stop Loss at 414.04 level. The Take Profit could be at 375.71 level. Duration: 3-5 days Consolidation/Ratification level: The Stop Loss can be dragged below the opening price if the rate will make a valid breakdown and if it will stabilize below the 397.84 level. Warning Level: You should be careful because a false breakdown from the minor chart pattern will signal a potential bullish momentum Risk Management: Risk/Reward Ratio: 2.02
BITFINEX:ETHUSDShort
by Forex_Academy
1
2 proposed scenarios on EthereumThe bearish case: We've seen the 850-900 range as a key support and resistance level for ETH. Given that ETH has failed at the 50% fib and at lower end of this range at 840, im relatively bearish on ETH. Also given the likes of NEO/EOS/ICX, being almost direct competitors to ETH, first mover advantage may be the only trump card that it has left in its arsenal. The bullish case: For all those ETH bulls out there, we can observe that ETH has printed a large 'cup'. It takes two prerequisites for ETH to relive its glory days. (1) Find support at 23% fib around the 600-650 price range. (2) Complete the handle pattern, revisiting the 850-900 range followed by the anticipated breakout. A good trade setup may be to go long at 600-650, with tight stop loss, and patiently wait for its fruition, however, always measure your risk-to-reward ratio. Sometimes, one may enter only on the breakout, but this lowers the R-to-R ratio, ultimately, this is up to the individual. Watch for other indicators such as the MACD and RSI. Always remember to combine your TA with some fundamental analysis and observation of the larger market situation. *Not financial advice, and should not be interpreted as such :)*
BITFINEX:ETHUSD
by gingerbre4d
Undervalued company with GREAT financials! FREE VALUE PICKHeres some easy money, Navios Maritime Midstream Partners L.P. is a services and shipping company. It has been priced at a premium by the market as a result of overreaction to selling of ships. These ship sales have increased the company's cash flow and helped them build an already extremely beefy balance sheet. I believe the market has priced NAP at around a 30 percent premium. You shall see in due time Peace out plebs (Happy free trade sunday!) Darklord_
NLong
by I_I_I_I_I_I_I_I_I_I_I_I_I_I_I
Another "Flag Break" on GTO/ETH making a quick 8% profitIt has been a while since our first and last trade but we're at it again with another nice Flag Break trade setup on GTO/ETH at Binance. To give you some context, the goal with our trading on our Binance account is to increase our ETH. At the beginning of this month, we started with 4.49 and after our first trade that grew to 4.8. Today we saw a quick trade opportunity on on GTO/ETH at Binance. After a huge run yesterday it consolidated on light volume and found support around 40.500 while forming a flag pattern. Trade Plan: Enter trade when the flag is broken Trade Management: 1. Entry: After flag break, above moving averages (12 and 50 on 3m timeframe) for higher probability. We missed the initial break of the flag but got in when price started running again at 45.197. 2. Profit: Usually you can take 1/3 - 1/2 of initial run as profit target/exit if you have the patience. But since we saw some big sell walls in the order book and we're satisfied with a decent quick profit, we decided to take partial profits just before the big sell walls. Sold at: 1. 47.989 2. 48.979 3. 49.769 3. Stop: -2.5% of entry, 44.067 4. Profit: 7.8% With this trade our ETH's grew from 4.80 to 5.17. Please like and share if you found this informative and helpful. Leave a comment if you have any questions. Leave you with a quote: "It's not the daily increase but daily decrease. Hack away at the unessential" - Bruce Lee And until next time, good luck with your trading.
GLong
by Trade_Masters
GBP/AUD Multiple setup opportunity GBP/AUD is inside of a symmetrical triangle formation. You could issue a scalp buy after the break and retest of the descending trend line, as it will try to reach the longer term descending trend line. Once Price reaches the primary descending trend line, you need to wait and see if it fails to break through on a 4hr time frame. In the event it does break through, wait for a retest on a 4hr time frame, after the retest confirmation issue your buy and hold for at least 50 pips.
by NEXT_LEVEL_ENTREPRENEUR
Weekly Technical View - Platinum Only a break higher above 1185 or out of the long term down trend line will be sufficient for the bulls to retake control. Short in this sellers market. Price continue to trade below the 20 WMA which is now sitting at 1180. Our stance remains the same here, Platinum to have a corrective rally as long as it trades within the triangle - creating higher low and lower high. As long as it trades within the long term downtrend line, we will not go long.
XShort
by sugardaddyFED