Yo yo yo,
Quick analysis of some ETHUSD. We saw this thing tumble over the last 30 days. It's forming a nice symmetrical triangle on the 4 hour chart. I wanted to keep this post simple. The market doesn't pay you to be a fortune teller, it pays you when you listen to it. Here is what it is speaking to me. The overall trend is BEARISH....HOWEVER the huge drop that lead into this triangle completed 5 elliott waves and is now almost complete with consolidation, which means the next move will be a correction or a continuation of the downtrend. If we can close above $302 with a huge bullish candle I will look to go long. If we get a strong bearish candle that closes below $270 I will look to short. All entries will be off the re-test.
BEWARE OF MARKET MANIPULATION
Good Luck!
Quick analysis of some ETHUSD. We saw this thing tumble over the last 30 days. It's forming a nice symmetrical triangle on the 4 hour chart. I wanted to keep this post simple. The market doesn't pay you to be a fortune teller, it pays you when you listen to it. Here is what it is speaking to me. The overall trend is BEARISH....HOWEVER the huge drop that lead into this triangle completed 5 elliott waves and is now almost complete with consolidation, which means the next move will be a correction or a continuation of the downtrend. If we can close above $302 with a huge bullish candle I will look to go long. If we get a strong bearish candle that closes below $270 I will look to short. All entries will be off the re-test.
BEWARE OF MARKET MANIPULATION
Good Luck!