ETHUSD - Sustained Upward Pressure May Be Under Way NOW.
Keep an eye on the White Energy in the Daily and the 2-Day to assist with CONFIRMING sustained upward pressure.
It's important to recognize there is a POTENTIAL for one more push down. Meaning, this COULD POTENTIALLY be one last bull trap with a push up only to push it down one more time before finally taking it up. Which is WHY I mentioned it's IMPORTANT to have a stop loss in place to keep losses small and gains large. If our stop loss gets triggered, it's no big deal. We will have another chance to get in at an even lower price. Getting in at the lower price will make up for the stop loss getting triggered IF a triggered stop loss ends up being the case.
A stop loss is there to help us not only control RISK but to also control EMOTIONS. Having a stop loss triggered is simply part of the process at times. However, it's one of the most important tools we can use to keep losses small an gains large.
It's important to recognize there is a POTENTIAL for one more push down. Meaning, this COULD POTENTIALLY be one last bull trap with a push up only to push it down one more time before finally taking it up. Which is WHY I mentioned it's IMPORTANT to have a stop loss in place to keep losses small and gains large. If our stop loss gets triggered, it's no big deal. We will have another chance to get in at an even lower price. Getting in at the lower price will make up for the stop loss getting triggered IF a triggered stop loss ends up being the case.
A stop loss is there to help us not only control RISK but to also control EMOTIONS. Having a stop loss triggered is simply part of the process at times. However, it's one of the most important tools we can use to keep losses small an gains large.
Comment:
Two possible scenarios. White scenario indicates we had a "Double-Bottom Accumulation Schematic" and the Aqua scenario indicates we had a "Classic Cup and Handle; also referred to as an Accumulation Schematic No. 1" We will have to wait and see where the price action runs up to in order to determine which Scenario we are in.
