Bearflag on Etherium Classic
Looking at the hIgher timeframe on Etherium Classic, we can see a BEAR FLAG is starting to form.
I'm looking for a swift clean break to the downside with Target 1 at the 1.272% Fib extension and a 1.618% FIB extension. I will be using a STOP LIMIT order to catch the fall.
This trade does rely on how Bitcoin -1.00% reacts over the weekend of course. But with the downtrend still in play, there is no real reason to be buying - unless your very good at picking tops/bottoms.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
I'm looking for a swift clean break to the downside with Target 1 at the 1.272% Fib extension and a 1.618% FIB extension. I will be using a STOP LIMIT order to catch the fall.
This trade does rely on how Bitcoin -1.00% reacts over the weekend of course. But with the downtrend still in play, there is no real reason to be buying - unless your very good at picking tops/bottoms.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active
Trade triggered. Always good to reduce risk to half or even break-evenTrade active
TARGET 1 Hit!!! Holding partial position towards target 2 after retrace.
Trade closed: target reached
Closed remainder of position at BE. Tidy trade for a nice profit.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.