Great, we seem to have completed a double combo (WXY), and the wave is now retracing. I entered a long position at €643 and am expecting a respectable retracement to at least .5 fib levels. I'm laddering sells at various price points at the .5 and .618 ranges.
Now, the tell tale sign for whether we are continuing in a bearish trend or back into a bullish trend...
First time posting, so take with a pinch of salt.
This is how a bullish case for ETHEUR can develop as I see it.
I'm taking the peak of €794 as wave 1, which therefore makes the correction we are currently undergoing wave 2. Assuming a 1:1 fib extension, wave 3 should be hitting highs of €862 in the coming days – PROVIDED THAT we do not fall outside of the...
