ETHUSD Trading StrategyETHEREUM/DOLLAR ETHUSD Trading Strategy
You either chase momentum - or sit back and go fishing.
This only works when range bound, obviously, as ETHUSD is.
That's not uncommon, but what is unusual is the 50% range
here, from 246 to 373 at extremes. Useful, potentially.
If you prefer fishing, set sell orders at 350 with stops above
375. Or you can just set one sell order at 360 with stops above
375 - it won't get hit as often but risk/reward ratio is higher
still. And the set a buy order at 267 with a stop under 240, or
at 255 with same stop, but once again it probably won't get
struck as often. But it's volatile, that's the point, so it might
do yet, given a few days.
In the near term, we can see that the real meat of each
candle on the daily chart shows that 337 is actually containing
daily close price (yes, it never closes, but does for data
gathering purposes) but that underneath the noise of each
bar, there is an upward underlying trend running under the
closing price since the closing low on 23rd October - picked up
pretty much bang-on by today's low price at 304...once 295
gives way you should get a chance at buying from the range
lows. It's meeting a solid wall of supply at 351, too. Plain as a
pikestaff. Relax, watch, wait, lay bait. It may get taken yet.
Truth Be Told
No one really knows Jack about any crypto. We may think we
do. Some may know they do. If you really know your space,
not just think you do, you're bound to do well. For the rest of
us, they're just lines on a chart. But, amazingly, the chart is
like a treasure map and if you just do what the chart tells you
to do next, you can always remain just one step ahead of the
posse chasing behind. You only need to be that one step
ahead. Be lucky. Be cool too
