Many thanks to Al for this one Excellent trade. We may reenter if it returns to the uptrend line (not the pitchfork) and becomes support. This could take 8 to 24 hours. I will update in about 6 hours
This Schiff pitchfork captures the downward price movement. No reason to be long if it passes the ascending line. This is a sliding parallel of the support line from the daily chart. I will wait for the establishment of a new support level before entering.
Someone asked why I got out at .18. I could see that this was a temporary high and I knew that I would be away from the computer for 16 hours.
@btcn2009,
Hi
It is probably not clear from the above what is going on. I was recommended to me 12 hours before I posted it. So I got in at 0.00009 and got out at 0.00018 , which is the very top so far. I exited then because I saw the momentum fade on a one minute chart. I like low risk trades with excellent Risk to reward ratio. If TRXETH returns to this line I will consider reentry. So if it returns to this line tomorrow price could be 0.00012 or the next day it could be more. So price is time dependent. But now it is showing no signs of weakness
a1Keith
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@a1Keith, Just because I think it might go higher is not a reason to enter. My goal is to enter a trade and immediately become profitable so timing and risk are important
btcn2009
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@a1Keith, Thanks. I also like get profitable right on entering but guess that's the most difficult part. BTW now it's ATH 0.20
This Schiff pitchfork captures the downward price movement. No reason to be long if it passes the ascending line. This is a sliding parallel of the support line from the daily chart. I will wait for the establishment of a new support level before entering.
Someone asked why I got out at .18. I could see that this was a temporary high and I knew that I would be away from the computer for 16 hours.