Elliott Waves + HnS Trending target Target + Long Term Log Trend

12 cze 2018

ETHUSD is most likely preparing for at least a decent ($100+) bounce, due to these reasons -

• - We have most likely finished 5 waves down of something bigger,
  
  - We are hovering right above upward trending HnS target (drawn by the channel)
  
  - Right under that channel, we have a log longterm trendline support as well.
  
  

Target - 50% retracement of those 5 waves.

Stop loss around $450.

12 cze 2018

Uwaga

The longterm logarithmic chart support line that I was talking about above (red line).

13 cze 2018

Uwaga

And if we zoom in:

13 cze 2018

Zlecenie aktywne

14 cze 2018

Uwaga

Both the trendline and the channel have failed to perform as well as I expected. The price is still hanging around their boundaries and we still most likely will see some upside movement currently but now my plan is to take 50% profit at 530s, setting a stop loss at the new, lower BE and then hold out the other 50% of the trade till 620s-640s (50% retracement of the 5 waves shown above).

Also, yesterday I almost got stopped out (the price bounced literally $0.1 away from the stop loss) and to be honest this price action is not very comfortable to be in a trade now, I might have rushed into the trade too early.

14 cze 2018

Uwaga

Correction - the channel has FAILED to do anything at all, while the longterm log trendline is doing meh at the moment.

14 cze 2018

Uwaga

cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not-securities-but-some-cryptocurrencies-may-be-sec-official-says.html

Well, that helps xD

14 cze 2018

Uwaga

Scratch selling 50% of the long at $530, selling only 25-30% there.

21 cze 2018

Uwaga

A good idea is to take part of the profit here @$530 (30 or 50% of the trade amount), putting stop loss either at $480 or your new BE for the rest. Next targets 580s and 620s.

22 cze 2018

Uwaga

Got stopped out,

Next support zone where I will enter long (if we reach there of course) is $370 (the equal leg area on recent EWs count) and 340s (an important longterm log trendline area).