MarcPMarkets
做多

ETHUSD: Buyers Are Back. Looking for Longs Low 260s Support.

BITFINEX:ETHUSD   以太坊/美元
ETHUSD             Update: The reversal played out from the major support area in the lower 240s that I highlighted in my previous evaluation. It just didn't play out as the "double bottom" formation that I was anticipating. The buying that I was waiting for is back. Price compromised the pivot resistance area which is a clear sign of strength and a signal that price is in line with the bigger picture, which has been bullish all along. Recalling the concept of support/resistance inversion, the 262 area (old resistance) should now act as a significant support. That level also overlaps with the . 382 retracement of the current swing. As long as 262 to 264 support holds, I expect prices to continue higher. I have not gotten long, and do not like buying highs, even in a strong market.

I plan to wait for price to retrace back into the 264 to 260 area and look for reversal patterns on smaller time frames to get long. My risk will be measured from just below our current support which is 260. Also another support to measure risk from is the 254 area. The conservative target for this trade is 288, and the more aggressive target is 302. Assuming an average entry price of 262, my RR theoretically is around 8:1 for T1 and 14:1 for T2. Yeah these numbers might seem a little outrageous, but that's the wonderful world of ethereum             for you. The time frame for these targets is within the next 24 to 48 hours. If price does not pull back, then I will wait for the next retrace opportunity.

We are currently sitting under the 273 resistance which was previously an important support, so a retrace from here is reasonable to expect. My bullish scenario will be negated if price goes below 243. That would be a sign of significant weakness returning to the market. Let's see what happens.



评论: My retrace scenario is not in effect. Price is nearing my anticipated targets. I will wait for next retrace and evaluate from there.
交易开始: Long at 270.66 with a stop at 261.30. RR is 2:1 for T1, and about 4:1 on T2. Let's see what happens.
Marc Principato, CMT |Author: Analyze Any Financial Market Like The Pros Using Price Action| http://www.Priceactiontraders.net | Cofounder http://www.seekingcryptos.com (S.C.)





you still in for long with the volume being low?
回复
@tceternal, yes I am still long. I don't mind the low volume, I'm in from a good price, as long as price sits here, this is easy to hold. It will be interesting to see where this goes once volume comes back.
回复
its retracing right now, how much do you think it can pull back before the next raise?
回复
@tceternal, 270 to 268 is the first support I am looking for it to reverse back up from. If that support breaks, then 262 is the next one I am watching.
回复
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 我的支持通知 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出