mortymortician

mortymortician

I executed this trade based on my own strategy that uses Ichimoku cloud break out and fibs BUT! I also saw this HS pattern and some trend line tests that I wanted to share that are just further verification for me. Happy trading!

mortymortician Updated 

This is what I'm looking at next. Just hanging out for a day or two to see how things shake out but definitely looking at shorts for a little bit. Long term still Net long ETHUSD.

mortymortician

I know this is a bit late to the game for this post (sorry I was working) so this is more of an after action report at this point. On the hourlies, I saw this wedge forming up so I put in bracket orders. I felt like it would go south. bracket was buy at 165.5 and sell at 162.5. sell got triggered on news and I got out at 153 for a 7% gain. next up im...

mortymortician

Got a little double bottom forming up on the 15 min, possible opportunity for a little $20 bump before things continue lower.

mortymortician

I know its a pretty crappy looking wedge but that has been the trend for about the last 15 wedge patterns that have popped up. 12 of the 15 ive seen have broke out opposite of entry direction. given that we have had a test and retest of the 640 support 3 times now and its held im looking for price to go North.

mortymortician

1:1 equal measured move puts us in the neighborhood of 600, strong psychological number, but i wouldn't be surprised if we see a .618 retracement back to 500 before this is done. RSI is already over sold but it can stay down there a while as has been demonstrated in the past.

mortymortician

now just how far south is she goona go mates!

mortymortician Updated 

9 out of 10 wedges breakouts have been reversals on the 15 min chart in the last 10 days. Price is currently pushing below the supporting trend line. i think it could fall off here pretty far

mortymortician

ETH/USD has some history of breaking out of wedge pattern in the opposite direction of entry. Its consolidating along the trend line reaching back to april. Im long already at 673 (thats another story) looking for T1 at around 700 if it breaks that T2 745. let me know what you think. thanks guys and gals

mortymortician

Got a double top, RSI over bought on the first test. Consolidation at previous structure expecting a break out to the down side atleast an equal measured move strong confluence of fib inversion and fib extension previous major structure

mortymortician

Is this still a legitimate Gartley?

mortymortician

Ichimoku cloud possible break out in a day or two on good RSI.