Longing breakout potential

29 Okt 2019

To be honest ETH looks more aggressive against the USDT then BTC.

Clear triangle to me, with a flat top. Taking to consideration an impulsive move up that preceded the current consolidation I am long-biased.

Longing from 186.9.

Aiming range's high 199.8 for a 2.9R

30 Okt 2019

Trade aktif

Extending my stop to the low of the range. The R:R is only 1 but decided to concentrate on HTF

30 Okt 2019

Catatan

30 Okt 2019

Trade aktif

So why I decided to extend my stop:

I think that a shakeout is a potential today. The price is now trading in a range defined by inside bar from yesterday on Daily candle. So probably we can see a stop hunt below the low of the Daily bar.

My original stop was placed right at the bottom of the range defined by yesterday’s bar. So why give away a god position? This is why I placed my stop to a safe place which is, I think the low of the bigger range, as marked on the chart above.

Now my R is no sexy but who gives a f*ck?! The main idea in trading is no f*cking around but making money. I think the idea of longing ETH breakout is valid until we don’t close daily below the range 171.80. Up until then I want to concentrate on HTF and my stop be safe.

Have a nice trade, pips!

30 Okt 2019

Catatan

I expect BTC reclaiming 9300 rather sooner than later. For a moment it looks like ETH is lagging behind but hopefully it will gain momentum.

So far my proposed scenario is at work. The low of 171.8 was taken and price now is trading near 184, making daily look like inside day failure.

I would like to see a daily close around 186

31 Okt 2019

Trade aktif

So the daily closed like an inside bar failure though the close is not as good as I would have wished.

Holding my long

31 Okt 2019

Catatan

2 Nov 2019

Trade aktif

If ETH manages to close the day above 185 that will be great for bulls. The target stays the same.