Hi guys, and Ether are printing exactly the same pattern, so although I´m short in Ether, I´ll focus the analysis in since what happens in will happen in Ether. In my previous ETH analysis I was debating wether we are making a symmetrical triangle (which definitely is not) or an from December 15th. So there is another chance as well, this also could be an , which in the current bear market and coming from an downtrend, is a continuation of it. Triangles normally are made of abc´s but waves 1-3-5 can be made as well of impulsive waves. So far, waves 1 and 3 are impulsive, so there is not clarity wether the price is going to hold 3540 or not, but I´m sure at least around that levels we will see a very nice bounce.
Now we have to focus on the current correction up. On the 25th, the price went almost to 38.2, which makes me think that a continuation upwards to 50% or 61.8 fibo retrace is possible. Since whales are who moves this market and not us, I want to prevent being out of the market in case of a hard dump. So my first entry is at current level in 3922 and 142 in ETH with a 5% of my capital. I have another short order ready of 2.5% at 50% fibo and another 2.5% at 61.8, now is just a matter of time until the price touch at least the base of the triangle I draw.
Remember that trading is not a game of being always right rather than guessing the overall direction of the trend and the proper use of tools to define your entries together with a capital management strategy, so if the price starts going up, is still is under my parameters.
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Published at Wed, 27 Feb 2019 13:23:49 +0000
