Demark Buy Signal ETHBTC pending confirmation
Updated
ETHBTC has generated a Demark Setup Perfection Buy signal on the 3 day chart.
The 3 day bar will end 8/5 (Sunday) with the confirmation of the buy signal.
My trading plan is to take the high swing of the #9 bar and place a buy stop (if below) or a limit buy (if above that level when this bar closes).
With a stop on a 3 day bar *close* below the risk level stop (blue dots).
The signal has not yet been confirmed and even after the signal it will take a bit of patience to get the order filled. Additionally these trades take a bit of time to play out so I won't be jumping the gun too early here. Notably we have hit a potential support level on BTCUSD and could move higher from here. If that happens that may negate this signal.
This pattern currently exists across multiple crypto /btc pairs LTC/BTC and ETH/BTC notably.
The 3 day bar will end 8/5 (Sunday) with the confirmation of the buy signal.
My trading plan is to take the high swing of the #9 bar and place a buy stop (if below) or a limit buy (if above that level when this bar closes).
With a stop on a 3 day bar *close* below the risk level stop (blue dots).
The signal has not yet been confirmed and even after the signal it will take a bit of patience to get the order filled. Additionally these trades take a bit of time to play out so I won't be jumping the gun too early here. Notably we have hit a potential support level on BTCUSD and could move higher from here. If that happens that may negate this signal.
This pattern currently exists across multiple crypto /btc pairs LTC/BTC and ETH/BTC notably.
Trade active
Buy Signal confirmedBuy: .058599 or better
Stop: 3 Day bar close below .049779
A lot of this move will depend on how BTC itself trades.
I write a newsletter about edges in financial markets…and life. Traders responsible for 9+ figures in daily transactions read it and you should too. Former USMC. pollinatetrading.com
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