ETHUSD heading for $300 at least.

ETH left downtrend and started a new up cycle.
Just broke out,wait for a correction. First target is 260, wait for a correction towards yellow trendline .
Dont chase candles!
Updates will follow on lower timeframe.
Aug 05
評論: Perfect touch of first targetzone @260 and trendline. Right now retracing. Lets wait and see till how far this correction can go.
Aug 06
評論: First target reached, perfect in the blue box.
Let's see if we get a (small) correction before further up towards 300

Aug 09
評論: Tagetbox got hit, I'm expecting some pullback now.
Lets see how far before next leg up.
Once pullback is completed, we can determine next target.

Aug 09
評論: sorry, wrong chart above. No function to edit an update

Aug 10
評論: After topping out, ETH retraced as I expected which looks to me as a classic ABC-correction. Currently forming a bearish pattern bearflag which indicates more downside.
We have 2 options right now:
1) It doesnt break top at 304 and retraces back to (C)
2) It goes a bit more up as RSI shows it has short term room to the upside and retraces from the little blue box in top.

Trading advice: wait for further correction to (C) and watch price action there for next leg up or go short if it breaks the trendline. I will update if necessary.

Aug 10
評論: Just a small note extra about Trading Advice: if B extends to the blue box, it will be also a nice short to C. If it doesn't break to the upside!
Aug 12
評論: So, it was the second option....
Price hit the target zone and is retracing a bit now. If it breaks the yellow trendline, its very likely to visit the blue box in the bottom of channel what should be a good point to consider adding longs for the run to (5)

Aug 14
評論: Watch price action.....
A break out to the upside changes the pattern
Aug 14
評論: does it work now?

Aug 15
評論: On its way.....
I repositioned the targetbox slightly as it became more clear now (B) is in position

Aug 15
評論: Targetbox got hit already!
Based on RSI + MACD, I'm expecting some more downside. Possible scenario in blue.
Breakout to the upside could be a buysignal, watch priceaction near upper trendline but be carefull as I', still bearish on ETH.

Aug 17
評論: ETH broke out of the down trend channel but it didnt convince me....
I cant really explain, but I have the feeling it will look for more downside.
Currently in a expanding triangle which is a trend reversal pattern (down)
Aug 20
評論: ETH is about to finish its 5th leg. Watch priceaction near 5.
I'm still bearish, these 2 channels look like an ABC correction for me.
Lowered my target

Aug 20
評論: Wanted to upload this chart with the ABC in it:
Aug 20
評論: Forming a bigger pattern.....
If it breaks, we might have started a new uptrend already. but not yet convinced.
Remember, it already hit my targetbox so the initial correction is in. I was looking if it can go lower.

Crypto_Ed Smokwawelski
@Smokwawelski, please dont post your trades in my posts. Its wrong use of Harmonic Patterns. I dont want my followers to be informed in the wrong way.. thanks and good luck in your own posts.
Crypto_Ed Smokwawelski
@Smokwawelski, because your idea is not following the rules for harmonics. Besides we could argue if completed "animals on charts" work or not, I just don't like it when you post bad examples in my posts.
You're free to trade and post them, but pls in your own posts. Thanks for understanding.
What do you think about ETHUSD for now ? Up or down ? :)
Crypto_Ed NikolasBalog
@NikolasBalog, last update is still valid
Watching closely, lost my ### trying to catch a few swings over the last few months lost ground from 62 ETH to 41 :/ Hoping to ride this wave up and recover my funds... or if there's going to be a correction selling now at 300 and buying back in at the bottom would work too but I'm not convinced it's going down right now for any sort of a correction. My guess is we are going to see it break up??
@JWos, We'll let the market decide.... Trade what you see, not what you think ;-)
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