Ether Trend Change - Bear: Short Opportunity

15 Sep 2020

LWC: Location GSC2B: Diagonal Triangle (D top = G) Need smaller time frame confirmation of candles. Labeled the correction with ABC for clarity, so B on the chart is actually the D triangle top on smaller time frame.
Trend - Down;
Recent Pivot - G $489.57
Candlestick pattern Red Engulfing:
• G may be top
• The formation is one candle
• September 2020 bar

Validation/Confirmation
- Multiple time pivots on G
- Failed at .236 major retracement resistance
- GSC2 fourth wave violations
- Three, three, three, three, three pattern
- Declining vol.
- slight bearish divergence
- Strong bull rotation of A_F
- Recent MA death cross
- D and F first two rising bottoms
- Short the pivot point G after smaller time frame candle confirmation or after dropping below the low of $311
- C is ATH, with red engulfing candle reversal

Projection/Trade Tactic
- GSC2 bottom: $100 (Projected H)
- Short the pivot point G after smaller time frame candle confirmation or after dropping below the low of $311
- High risk Stop loss: $315 (1% above $311)
- Low risk Stop loss: $494 (1% above G)
- Pick your profit level based on supports below or a MA bounce
• $285
• $205
• $165
• $120
• GSC2 projected bottom: $100
- Projected H may be 3rd bottom for buying

Here are the data points:
Price Pivots
A $0.15
B $5.92
C $1,594.89
D $80.56
E $138.60
F $89.80
G $489.57

LWC: Trends
- GSC1: B_C
- GSC2_SCa: C_D
- GSC2_SCb: D_E
- GSC2_SCc: E_F
- GSC2_SCd: F_G

Trend Range GFactor GDegree Time
A_B $ 5.77 2.4021 432.37 16
A_C $ 1,594.74 39.9342 7,188.16 29
B_C $ 1,588.97 39.8619 7,175.14 13
B_D $ 74.64 8.6394 1,555.10 24
B_F $ 83.88 9.1586 1,648.55 39
C_D $ 1,514.33 38.9144 7,004.59 11
C_E $ 1,456.29 38.1614 6,869.05 17
C_F $ 1,505.09 38.7955 6,983.19 26
C_G $ 1,105.32 33.2464 5,984.34 32
D_E $ 58.04 7.6184 1,371.31 6
D_F $ 9.24 3.0397 547.15 15
D_G $ 409.01 20.2240 3,640.32 21
E_F $ 48.80 6.9857 1,257.43 9
E_G $ 350.97 18.7342 3,372.15 15
F_G $ 399.77 19.9942 3,598.96 6
A_F $ 89.65 9.4684 1,704.31 55
A_D $ 80.41 8.9672 1,614.09 40

My overall TA strategic approach of various cryptocurrencies, in the form of my personal guidelines and foundational values driving trend analysis-based swing trading. Remember risk management and setting stops before you trade.

1) LWC is the map, time our compass - validate on price and confirm with candlesticks
2) EVERY trade: LWC location, time bearing, price validation, and candle confirmation are required
3) All LWC counts, Gann degrees/factors, and time assessments need validation at a smaller time frame
4) Trade off candlesticks that confirm pivots which display a trend change
5) Trust the process and numbers
6) Trade with the trend in your chosen time frame
7) Start large and work small