ETHUSD heading for $300 at least.

2017年8月5日

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.

2017年8月5日

註釋

Perfect touch of first targetzone @260 and trendline. Right now retracing. Lets wait and see till how far this correction can go.

2017年8月7日

註釋

First target reached, perfect in the blue box.
Let's see if we get a (small) correction before further up towards 300

2017年8月9日

註釋

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.

2017年8月9日

註釋

sorry, wrong chart above. No function to edit an update

2017年8月10日

註釋

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.

2017年8月10日

註釋

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!

2017年8月12日

註釋

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)

2017年8月14日

註釋

Watch price action.....
A break out to the upside changes the pattern

tradingview.com/chart/Z1iG7mSF/

2017年8月14日

註釋

does it work now?

2017年8月15日

註釋

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

2017年8月15日

註釋

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.

2017年8月17日

註釋

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)

2017年8月20日

註釋

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

2017年8月20日

註釋

Wanted to upload this chart with the ABC in it:

2017年8月21日

註釋

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.