ETHBTC Elliot Wave Analysis + Trade idea
Playing with Elliot waves still, yesterday's idea was my first TA and worked well!
1) I used fundamentals of BIP uncertainty to decide ETH is going down with BTC, would rather want to read that from TA alone.
2) I should set wave lines to be parallel, it's the best gradient info we got when completing a pattern, my line 4 was too slow.
3) I should follow my own damn advice! I put buy at line 5 exit (0.094) and went to sleep and it went down all the way.
Today's idea continues with a new Elliot wave (cause that's all I know right now, lol), making it an upward triangle on fundamental of BTC testing long downtrend breakout 2400.
Gonna try and trade my suggestion once Elliot point C reversal is confirmed, buy ETH at 0.087, sell at 0.093.
How should I set the stop loss for this, never used stop loss before?
1) I used fundamentals of BIP uncertainty to decide ETH is going down with BTC, would rather want to read that from TA alone.
2) I should set wave lines to be parallel, it's the best gradient info we got when completing a pattern, my line 4 was too slow.
3) I should follow my own damn advice! I put buy at line 5 exit (0.094) and went to sleep and it went down all the way.
Today's idea continues with a new Elliot wave (cause that's all I know right now, lol), making it an upward triangle on fundamental of BTC testing long downtrend breakout 2400.
Gonna try and trade my suggestion once Elliot point C reversal is confirmed, buy ETH at 0.087, sell at 0.093.
How should I set the stop loss for this, never used stop loss before?
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