WE WILL HIT THE 50% FIB AND FROM THERE RETEST THE PREVIOUS HIGHS.
ENTER LONG AT 12.35, 0.10 ABOVE THE 50% FIB AND SET INICIAL TARGET TO AROUND 15.00. SECONDARY TARGET IS 14.00. IF IT HOLDS AT 14.00 AND PULLS BACK DONT PANICK UNLESS IT FALLS BELOW THE 38.2% FIB OF 12.94. IF TARGET IS BREACHED THEN AT LEAST 16.00.
IF 16.00 IS BREACHED THEN ETH IS OUT OF BEARISH GROUND FOR GOOD AND A 20.00 COIN IS PLAUSIBLE AND VERY LIKELY.
SET STOP LOSS AT 11.50 FOR A 3:1 RISK/REWARD RATIO.
IF 11.50 IS BREACHED THEN PREPARE TO SHORT AT A 12.00 PULLBACK!!
GOOD LUCK!
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Looks like my original thoughts where right. we have retraced again to the 12.00 mark. lets wait for confirmation and buy the long.
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PLACE A LIMIT BUY AT 12.00 WITH STOP LOSS AT 11.50!!!
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UPDATED MY LIMIT BUY TO 12.15. WE WANT TO GET FILLED.
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TOOK MY LONG POSITION AT 12.15 WITH A STOP LOSS AT 11.80. LETS SEE HOW WE DO. GOOD LUCK!