Long

Updated

Get ready to Long Ethereum

Technically it's still soon, no hurry.
Anyway get ready for resistance breakout, then watch for Weekly Parabolic SAR reversal.
Lazy guys may go Long now with SL under support ( 100-110$ ).
Others should await after a breakout on volume.

Good luck, DYOR.

Trade active

Opening a Long right here.
SL under support:

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I've set my stop on break even.

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ETH Bulls need to breakout resistance ad to take about 160$, in order to achieve a Weekly SAR reversal. PArabolic SAR is pretty continuous, so that would allow a further rise.

Flip of the cooin: if price fails that and gets rejected by resistance may further drift and test support. Anyway, it's still a falling wedge, so i guess they would have some further chance there.

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Dear Santa, i've 2 wishes.

A hammer on tonight weekly clos and Parabolic SAR reversal by next week.

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Close to a hammer.

According to Bulkowski specifications it falls a bit short on extension of the wick ( < 2x 'body' height).

Anyway, on weekly TF that's probably the CLOSEST 'thing' to a hammer Ethereum ever painted in years. So it can be a decent candidate for a bottom.

To be fair hammer reliability as a reversal pattern isn't much impressive ( about 60% ). Yet *IF* price pierces that resistance here then it will have a prettty very good probability to reach at least 170$. If so Parabolic SAR would reverse, likely springing a further surge ...

Anyway that's just speculation for now.
Look for signals: eyes on resistance, on a hypothetical breakout watch Parabolic SAR.

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Get ready for test of long term resistance:

Still within a falling wedge, let's see.

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Moment of truth ...

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Bulls need a daily close over resistance,and to consolidate within the upper half of Bollinger Bands. As you notice price plunged in the lower half on November 14th and coundn't recover since then. A recovery now would be a good signal.

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Come on bulls, it's about time ...

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Come on Ethereum, wake those bulls ...

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So far so good ...

But now volume should pick up, as price is already challenging the upper bound of Bollinger Bands and low volume would mean high rish of rejection there.

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Looking forward to breakout of weekly Parabolic SAR on sunday close.
Hopefully.

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Come on ...

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Close.

Holding breath while aìwaiting this weekly Parabolic SAR reversal:

We'll see on sunday.

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In the meantime +20% already since my Long signal above.
Have a nice trip, don't forget to place a TP.

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+34%, nice.

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First target of 170$, mentioned on Dec 23th, was reached today.

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Likely to move again within 24hrs.

Caution if moving under 160$.
Anyway, always remember to protect your gains.

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Ok, possibly a bullish pennant with an exit route.

We'll see, for now mind that support.

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Sparse rising wedge, overbought.
Either FOMO or retrace, the latter being theoretically more likely from here.

Let it go, but remember to protect your open positions with a TP.

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At local resistance.

Awaitoing outcome. It may be a broadening wedge, in case of a breakout price may move towards 200$ area.

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Do it, ether.

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Do it, don't waste this opportunity, pretty please.

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Razor's edge.

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Ok it's on flight.
Let's see how far it can go.
Don't forget to place a TP, let it go.

Here are weekly BBs for reference.

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(short term)

Crossroad:

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(short term)

Careful now, mind support and resistance.

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And finally ...

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First higher high since october, for Ether ...
Good.

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Ether entered the target area of the measured move up proposed days ago.

197$ was the "statistical" target, 218$ is the theoretical target.

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Meanwhile the Long trade opened above on Dec 17th is still running, currently with a +70% gain.

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As you may see Eth did also reach the upper limit of weekly BB:

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Oh, well:

price almost at designated pattern target.
Awaiting further signals.

Here we had a +80% Long trade within about 40 days.
Not bad, right ? You may wish to take some profit or go for the longer and bumpy road.

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In the latter case, mind the fact you need to have a TP set at any time.

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Watch out.
price flirting with FOMO edge.

If you take a risk here remember to apply a TP.

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Taking profit on 50% of trade in order to mitigate risk.
Price was open just below 120$, +85%.

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Watch it.

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little buyback @238$

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Let's see whether short term support holds.

Buying more around the 228$ mark in the case-

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We had a fulfilled H&S here.

Let's see what's next.

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Try it, Ether.

Volume please!

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If inverted H&S works it may push well over 300$

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[SHORT TERM]
Seemingly a flag, yet a very sparse one.
Volume undecisive.

Tightening TP under support.

Trade closed: stop reached

TP matched at 273$

Trade closed: target reached

Target #1 finally reached on July 20, 2020

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