ETHUSD - 30m ST Continue?
Updated
First and foremost, hello! I don't Publish often, this will be a first. I got into TA a few months ago, and have had a close eye on ETHUSD.
With that said, Charting Accuracy has been quite an interesting endeavor with this Pair, yet I am generally enthusiastic about it.
Let's see if the Bulls have anything left after the 15 day beating in the downtrend channel, and the recent dump from $114 to nearly $100.
Looks like a Symmetrical Triangle Continuation with upside resistance at the .618 Fibonacci Level - which is also position at the upper resistance of the downward channel.
With that said, Charting Accuracy has been quite an interesting endeavor with this Pair, yet I am generally enthusiastic about it.
Let's see if the Bulls have anything left after the 15 day beating in the downtrend channel, and the recent dump from $114 to nearly $100.
Looks like a Symmetrical Triangle Continuation with upside resistance at the .618 Fibonacci Level - which is also position at the upper resistance of the downward channel.
Note
Conversely, this also looks like a Bear Pennant, and could retest $100 Support.I'll be watching the march to impulse 5 closely. Short or Long?
Bear Pennant Pattern:
chartpatterns.com/flagandpennantcharts.htm
Trade active
Update: I little more accuracy after zooming into the 5 min and getting some tighter top/bottom trend lines. We'll see if impulse 4 holds. Trade active
Note: Impulse 2 and 4 have Red 9 from TD Sequential - which I believe is a signal of seller exhaustion/reversal (very short term of course - 30 min chart.)Note
Impulse 5 Reached. What Next? Bear Flag, or Bull Break?Note
I guess I got lucky. Bullish Entry into the Triangle, Plus Red 9 on Daily Time Frame was a rather nice indication that validatedTrade active
Hopefully we are going to go up and test the top of the channel once again, a break above would be huge. Bull Flag almost complete?
Note
A second Bull Flag may be forming, and we're again approaching the Trend line.The last 3 times these two met, it didn't go so well. Will the Bulls have the momentum to finally penetrate? Are we swapping positions.
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