Ascending wedge LONG ETHBTC

Jan 1, 2018

BTCUSD just broke out of a descending channel to the upside with retracement to the channel ceiling . Bullish.
ETHUSD has been trading in a wedge and looks to breakout to the upside. However the pattern is most exact on ETHBTC.
I will enter long if price retraces to the bottom of the wedge with a stop beneath previous low.
Profit target: Upper extent of green area

Example
Stop 0.052
Entry 0.054
Take profit 0.082
Risk :Reward 15:1

Jan 8, 2018

Note

ETH is very strong compared to BTC. It has shot up to the top of the channel. With such a strong move , it can have the momentum to push through it. I will wait tot see if it forms support on top of this channel for another leg higher

Jan 8, 2018

Note

so I may move my take profit up. We should know within 24 hours

Jan 8, 2018

Note

Preparing to close out this trade.
Alarm for bar close placed at double ascending line. I will close the trade if it crosses this line

Jan 8, 2018

Note

This one minute chart shows a descending channel into the double ascending lines.
It will probably first become a wedge which will break up or continue down as a channel. We will have our answer soon

Jan 8, 2018

Trade closed: target reached