Whenever the market does not AT ALL act as expected, it is time to step back, cut the bias and have a fresh & adjusted look at the situation. As far as the ETHEUR chart is concerned, these are the results...
The wick down on Oct 29th was as violent as it was useful on two different levels. First of all, it must be taken as reminder that a healthy risk management is crucial. NEVER overleverage a position and/or set reasonable S/L. In a rather illquid market, such massive wicks must be expected at any time and should never lead to liquidation.
On the other (technical) hand, it has provided an important point of orientation. Connecting the two prominent wicks (08-02 & 10-29) and taking it as base line, we now can identify 3 BULLISH channels (black/orange/blue) and important support (low 9s) /resistance (10.88-11.33) areas.
And that is pretty much the plan. BUY in low/mid 9s (S/L 9.11) and SELL when hitting resistance. A local top around the yellow circle is to be expected.
Happy Trading!
(NEUTRAL since no active position, yet)
The wick down on Oct 29th was as violent as it was useful on two different levels. First of all, it must be taken as reminder that a healthy risk management is crucial. NEVER overleverage a position and/or set reasonable S/L. In a rather illquid market, such massive wicks must be expected at any time and should never lead to liquidation.
On the other (technical) hand, it has provided an important point of orientation. Connecting the two prominent wicks (08-02 & 10-29) and taking it as base line, we now can identify 3 BULLISH channels (black/orange/blue) and important support (low 9s) /resistance (10.88-11.33) areas.
And that is pretty much the plan. BUY in low/mid 9s (S/L 9.11) and SELL when hitting resistance. A local top around the yellow circle is to be expected.
Happy Trading!
(NEUTRAL since no active position, yet)
تعليق:
The new Monthly did not open exactly bullish... Let´s see how this plays out.
تعليق:
Idea as described remains valid for the time being...
تعليق:
Zooming in on the Daily, 9.34 is proposed as most desirable entry.
تم فتح الصفقة:
Longed this here.
تعليق:
Entry target hit spot on...
تعليق:
Target: 10.80-11.00
تعليق:
Very bullish daily opening. Re-longing...
تعليق:
Pressure being built. Proper pop expected...
تعليق:
Flying penguin spotted...
تعليق:
Daily confirms bullish setup... To da Eeether!
تعليق:
Idea still stands stands as described...
تعليق:
New Daily looks very promising.
